Ninepoint Partners LP Has $1.38 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Ninepoint Partners LP raised its position in Apple Inc. (NASDAQ:AAPL) by 16.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,511 shares of the iPhone maker’s stock after buying an additional 793 shares during the quarter. Ninepoint Partners LP’s holdings in Apple were worth $1,380,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Tumwater Wealth Management LLC bought a new stake in shares of Apple in the 4th quarter valued at $1,287,000. Envestnet Portfolio Solutions Inc. increased its position in shares of Apple by 9.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 875,674 shares of the iPhone maker’s stock valued at $219,286,000 after buying an additional 77,170 shares during the period. Ascent Capital Management LLC bought a new position in shares of Apple in the fourth quarter worth approximately $7,073,000. Pollock Investment Advisors LLC bought a new position in Apple during the fourth quarter valued at approximately $1,915,000. Finally, Tidemark LLC boosted its stake in shares of Apple by 4.5% during the fourth quarter. Tidemark LLC now owns 19,494 shares of the iPhone maker’s stock valued at $4,882,000 after purchasing an additional 831 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Performance

NASDAQ AAPL opened at $195.27 on Monday. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a market cap of $2.92 trillion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The stock’s 50 day simple moving average is $205.04 and its 200-day simple moving average is $225.94.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 160.83% and a net margin of 24.30%. The company had revenue of $95.36 billion during the quarter, compared to analysts’ expectations of $94.04 billion. During the same quarter last year, the firm earned $1.53 earnings per share. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.53%. This is a boost from Apple’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple’s payout ratio is presently 16.20%.

Apple declared that its board has authorized a stock repurchase program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AAPL shares. Needham & Company LLC reiterated a “buy” rating and issued a $225.00 price objective on shares of Apple in a report on Friday, May 2nd. Oppenheimer cut Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. KeyCorp raised Apple from an “underweight” rating to a “sector weight” rating in a research report on Monday, April 14th. Maxim Group upped their target price on Apple to $215.00 and gave the stock a “hold” rating in a report on Friday, February 21st. Finally, Redburn Partners set a $230.00 price target on Apple in a research note on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average target price of $235.80.

Insiders Place Their Bets

In other Apple news, CFO Kevan Parekh sold 4,570 shares of the company’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the sale, the chief financial officer now directly owns 4,569 shares of the company’s stock, valued at $941,214. This represents a 50.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 4,486 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the transaction, the insider now directly owns 15,533 shares of the company’s stock, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,507 shares of company stock valued at $42,694,080 in the last ninety days. Insiders own 0.06% of the company’s stock.

Apple Company 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.