Apple Inc. $AAPL Shares Purchased by Sunpointe LLC

Sunpointe LLC boosted its position in Apple Inc. (NASDAQ:AAPL) by 55.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,492 shares of the iPhone maker’s stock after purchasing an additional 13,404 shares during the quarter. Apple comprises approximately 3.1% of Sunpointe LLC’s investment portfolio, making the stock its 4th largest position. Sunpointe LLC’s holdings in Apple were worth $7,692,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AAPL. ROSS JOHNSON & Associates LLC grew its holdings in Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after buying an additional 180 shares in the last quarter. Conquis Financial LLC purchased a new stake in Apple in the 4th quarter valued at $63,000. LSV Asset Management purchased a new stake in Apple in the 4th quarter valued at $65,000. Elite Financial Inc. purchased a new stake in Apple in the 1st quarter valued at $58,000. Finally, HFM Investment Advisors LLC purchased a new stake in Apple in the 1st quarter valued at $99,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

AAPL opened at $252.31 on Thursday. The stock’s 50-day moving average price is $227.04 and its 200 day moving average price is $212.78. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The firm has a market cap of $3.74 trillion, a price-to-earnings ratio of 38.29, a PEG ratio of 2.64 and a beta of 1.11.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.14. The firm had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.Apple’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.40 EPS. As a group, sell-side analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were given a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple’s dividend payout ratio (DPR) is currently 15.78%.

Analysts Set New Price Targets

Several brokerages have issued reports on AAPL. HSBC set a $220.00 target price on Apple and gave the company a “hold” rating in a report on Monday, September 8th. UBS Group restated a “neutral” rating on shares of Apple in a report on Monday, September 8th. Wedbush set a $310.00 price objective on shares of Apple and gave the company an “outperform” rating in a report on Monday. Loop Capital reduced their price objective on shares of Apple from $230.00 to $226.00 and set a “hold” rating on the stock in a report on Thursday, August 21st. Finally, Evercore ISI boosted their price objective on shares of Apple from $250.00 to $260.00 and gave the company an “outperform” rating in a report on Wednesday, September 10th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $244.66.

Insider Transactions at Apple

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at $30,508,538.40. This trade represents a 20.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is owned by corporate insiders.

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.