Apple Inc. (NASDAQ:AAPL) is Saybrook Capital NC’s 2nd Largest Position

Saybrook Capital NC grew its position in Apple Inc. (NASDAQ:AAPL) by 0.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 165,682 shares of the iPhone maker’s stock after buying an additional 375 shares during the period. Apple makes up about 10.2% of Saybrook Capital NC’s investment portfolio, making the stock its 2nd largest holding. Saybrook Capital NC’s holdings in Apple were worth $36,803,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Conquis Financial LLC purchased a new position in shares of Apple during the fourth quarter valued at approximately $63,000. LSV Asset Management purchased a new position in shares of Apple during the fourth quarter valued at approximately $65,000. Pillar Financial Advisors LLC purchased a new position in shares of Apple during the fourth quarter valued at approximately $82,000. Compass Planning Associates Inc purchased a new position in shares of Apple during the fourth quarter valued at approximately $96,000. Finally, Collier Financial purchased a new position in shares of Apple during the fourth quarter valued at approximately $140,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Trading Up 5.0%

AAPL stock opened at $213.12 on Thursday. The company has a market capitalization of $3.16 trillion, a PE ratio of 32.34, a P/E/G ratio of 2.13 and a beta of 1.16. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The firm’s 50-day moving average is $205.84 and its 200 day moving average is $213.24. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. The company had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.40 EPS. On average, research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple declared that its Board of Directors has initiated a stock buyback program on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 11th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, August 11th. Apple’s dividend payout ratio (DPR) is currently 15.78%.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 4,486 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider directly owned 15,533 shares in the company, valued at $3,233,815.27. This represents a 22.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on AAPL. JPMorgan Chase & Co. boosted their price objective on shares of Apple from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Jefferies Financial Group upgraded shares of Apple from an “underperform” rating to a “hold” rating in a research report on Friday, July 18th. Loop Capital cut their target price on shares of Apple from $230.00 to $215.00 and set a “hold” rating for the company in a research report on Wednesday, April 30th. Monness Crespi & Hardt boosted their target price on shares of Apple from $245.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Finally, Citigroup boosted their target price on shares of Apple from $240.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $237.25.

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.