Apple Inc. (NASDAQ:AAPL) Shares Bought by 1620 Investment Advisors Inc.

1620 Investment Advisors Inc. grew its position in Apple Inc. (NASDAQ:AAPL) by 0.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 9,654 shares of the iPhone maker’s stock after acquiring an additional 45 shares during the period. Apple accounts for approximately 1.6% of 1620 Investment Advisors Inc.’s investment portfolio, making the stock its 8th biggest position. 1620 Investment Advisors Inc.’s holdings in Apple were worth $2,249,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AAPL. International Assets Investment Management LLC boosted its position in Apple by 20,372.7% during the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after buying an additional 93,886,664 shares during the period. Strategic Financial Concepts LLC raised its stake in shares of Apple by 14,145.8% during the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after acquiring an additional 7,558,826 shares during the last quarter. Pathway Financial Advisers LLC lifted its holdings in shares of Apple by 22,870.6% during the third quarter. Pathway Financial Advisers LLC now owns 5,590,588 shares of the iPhone maker’s stock worth $1,302,607,000 after purchasing an additional 5,566,250 shares during the period. William Blair Investment Management LLC bought a new stake in shares of Apple in the second quarter worth $834,368,000. Finally, Ameriprise Financial Inc. increased its holdings in Apple by 6.7% in the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock valued at $10,909,457,000 after purchasing an additional 3,245,281 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Trading Down 0.7 %

Shares of Apple stock opened at $250.42 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The stock has a fifty day simple moving average of $238.41 and a 200 day simple moving average of $228.58. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $260.10. The company has a market capitalization of $3.79 trillion, a P/E ratio of 41.19, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter in the prior year, the company posted $1.46 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, sell-side analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.40%. Apple’s dividend payout ratio is currently 16.45%.

Analysts Set New Price Targets

A number of research firms have commented on AAPL. Moffett Nathanson reduced their price target on Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 19th. Citigroup lifted their price objective on Apple to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Jefferies Financial Group downgraded shares of Apple from a “buy” rating to a “hold” rating and increased their target price for the company from $205.00 to $212.92 in a research report on Monday, October 7th. Wells Fargo & Company boosted their price target on shares of Apple to $275.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Piper Sandler reiterated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $237.47.

Insider Transactions at Apple

In other Apple news, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the transaction, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. The trade was a 35.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 163,435 shares of company stock worth $39,376,002 in the last 90 days. Insiders own 0.06% of the company’s stock.

Apple Profile

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.