Klingman & Associates LLC raised its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 3.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 248,989 shares of the iPhone maker’s stock after acquiring an additional 9,393 shares during the period. Apple makes up 3.6% of Klingman & Associates LLC’s portfolio, making the stock its 6th biggest holding. Klingman & Associates LLC’s holdings in Apple were worth $58,014,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Bull Oak Capital LLC grew its holdings in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after buying an additional 111 shares during the last quarter. Hershey Financial Advisers LLC bought a new stake in shares of Apple in the second quarter valued at approximately $42,000. Christopher J. Hasenberg Inc grew its stake in shares of Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares during the last quarter. ARK Investment Management LLC acquired a new stake in shares of Apple in the third quarter worth $110,000. Finally, Cordant Inc. increased its position in Apple by 34.3% during the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after acquiring an additional 173 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
AAPL has been the subject of a number of research analyst reports. Sanford C. Bernstein upped their price objective on shares of Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Citigroup upped their price target on Apple to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Jefferies Financial Group cut Apple from a “buy” rating to a “hold” rating and boosted their price objective for the company from $205.00 to $212.92 in a research report on Monday, October 7th. Finally, Evercore ISI reaffirmed a “buy” rating and issued a $250.00 target price on shares of Apple in a research report on Thursday, September 26th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $239.85.
Apple Stock Performance
NASDAQ:AAPL opened at $233.28 on Wednesday. The company has a market cap of $3.53 trillion, a price-to-earnings ratio of 38.37, a PEG ratio of 2.41 and a beta of 1.20. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a fifty day moving average price of $240.63 and a 200-day moving average price of $230.52.
Apple (NASDAQ:AAPL – Get Free Report) last released 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. The firm had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the firm earned $1.46 EPS. As a group, equities analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal 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 paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.43%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.
Insider Buying and Selling at Apple
In other news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.
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