Charter Capital Management LLC DE Makes New Investment in Apple Inc. $AAPL

Charter Capital Management LLC DE acquired a new stake in shares of Apple Inc. (NASDAQ:AAPL) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,007 shares of the iPhone maker’s stock, valued at approximately $617,000. Apple accounts for about 0.4% of Charter Capital Management LLC DE’s investment portfolio, making the stock its 28th biggest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AAPL. Advanced Portfolio Management LLC increased its stake in shares of Apple by 0.3% during the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock valued at $3,260,000 after buying an additional 47 shares during the period. Salus Financial Advisors LLC boosted its holdings in Apple by 3.9% in the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock valued at $291,000 after acquiring an additional 49 shares in the last quarter. Sharpepoint LLC increased its position in Apple by 3.5% during the 1st quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker’s stock valued at $322,000 after purchasing an additional 51 shares during the period. Redwood Financial Network Corp increased its position in Apple by 0.6% during the 4th quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker’s stock valued at $2,184,000 after purchasing an additional 53 shares during the period. Finally, Mission Hills Financial Advisory LLC raised its holdings in Apple by 1.3% in the 1st quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker’s stock worth $892,000 after purchasing an additional 53 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on AAPL shares. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a research report on Friday, July 25th. DA Davidson reissued a “neutral” rating and issued a $250.00 target price on shares of Apple in a research report on Thursday, September 11th. Loop Capital dropped their price target on Apple from $230.00 to $226.00 and set a “hold” rating on the stock in a research report on Thursday, August 21st. Phillip Securities downgraded Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price objective for the company. in a report on Thursday, September 11th. Finally, Melius Research set a $290.00 price objective on Apple and gave the company a “buy” rating in a research report on Wednesday, September 10th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus price target of $247.49.

Apple Stock Performance

AAPL opened at $258.02 on Monday. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market cap of $3.83 trillion, a P/E ratio of 39.15, a PEG ratio of 2.51 and a beta of 1.09. The company has a 50 day simple moving average of $233.09 and a two-hundred day simple moving average of $214.69.

Apple (NASDAQ:AAPL) last announced 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. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion for the quarter, compared to analysts’ expectations of $88.64 billion. During the same quarter in the previous year, the company earned $1.40 EPS. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. Equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

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

Insider Activity

In related news, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the sale, the senior vice president directly owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This represents a 20.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Deirdre O’brien sold 43,013 shares of Apple stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. This trade represents a 23.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 254,922 shares of company stock valued at $64,320,190. 0.06% of the stock is currently owned by company insiders.

About Apple

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.