Apple Inc. (NASDAQ:AAPL) is New World Advisors LLC’s 3rd Largest Position

New World Advisors LLC lifted its stake in Apple Inc. (NASDAQ:AAPL) by 10.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,647 shares of the iPhone maker’s stock after purchasing an additional 2,519 shares during the quarter. Apple comprises about 1.6% of New World Advisors LLC’s portfolio, making the stock its 3rd largest holding. New World Advisors LLC’s holdings in Apple were worth $5,976,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Bull Oak Capital LLC increased its holdings in shares of Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares during the period. Hershey Financial Advisers LLC purchased a new stake in Apple in the second quarter valued at approximately $42,000. Christopher J. Hasenberg Inc increased its holdings in Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after buying an additional 144 shares during the period. Cordant Inc. raised its position in Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after buying an additional 173 shares during the last quarter. Finally, Sage Financial Group Inc. acquired a new stake in Apple during the 2nd quarter valued at approximately $206,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Luca Maestri sold 59,305 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the transaction, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This trade represents a 35.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 508,170 shares of company stock worth $117,004,745. Company insiders own 0.06% of the company’s stock.

Apple Stock Down 1.3 %

NASDAQ AAPL opened at $255.59 on Friday. The business’s fifty day simple moving average is $237.41 and its 200-day simple moving average is $227.65. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The firm has a market cap of $3.86 trillion, a PE ratio of 42.04, a P/E/G ratio of 2.41 and a beta of 1.23. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. Apple’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business earned $1.46 earnings per share. As a group, equities analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is presently 16.45%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AAPL. Citigroup increased their price objective on shares of Apple to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $265.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Bank of America boosted their price objective on Apple to $256.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Monness Crespi & Hardt reiterated a “buy” rating and set a $245.00 price target on shares of Apple in a research report on Monday, September 9th. Finally, Oppenheimer restated a “buy” rating and issued a $250.00 price objective on shares of Apple in a research report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $237.47.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.