BayBridge Capital Group LLC Increases Holdings in Apple Inc. $AAPL

BayBridge Capital Group LLC increased its position in Apple Inc. (NASDAQ:AAPL) by 4.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,910 shares of the iPhone maker’s stock after acquiring an additional 199 shares during the period. BayBridge Capital Group LLC’s holdings in Apple were worth $1,007,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. First National Bank of Hutchinson lifted its holdings in shares of Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after purchasing an additional 6,982 shares in the last quarter. Eagle Capital Management LLC raised its position in shares of Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after purchasing an additional 272 shares during the last quarter. Brighton Jones LLC lifted its stake in Apple by 14.8% in the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock valued at $134,554,000 after buying an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in Apple by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock valued at $16,742,000 after buying an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE grew its holdings in Apple by 2.4% during the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock valued at $12,587,000 after buying an additional 1,155 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Barclays boosted their price target on Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a report on Friday, August 1st. CLSA raised shares of Apple to a “strong-buy” rating in a research note on Sunday, October 5th. Monness Crespi & Hardt raised their price target on shares of Apple from $245.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Citigroup reiterated a “buy” rating on shares of Apple in a report on Wednesday, September 10th. Finally, Wedbush set a $310.00 price objective on shares of Apple and gave the company an “outperform” rating in a research note on Monday, September 22nd. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $248.29.

Apple Price Performance

Apple stock opened at $247.66 on Tuesday. 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 quick ratio of 0.83 and a current ratio of 0.87. The firm has a 50 day moving average price of $238.50 and a 200 day moving average price of $216.04. The company has a market cap of $3.68 trillion, a price-to-earnings ratio of 37.58, a PEG ratio of 2.39 and a beta of 1.09.

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

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid 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 dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is currently 15.78%.

Insider Transactions at Apple

In related news, SVP Deirdre O’brien sold 43,013 shares of the firm’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the completion of the sale, the senior vice president directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy D. Cook sold 129,963 shares of Apple stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total value of $33,375,798.03. Following the sale, the chief executive officer directly owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 254,922 shares of company stock valued at $64,320,190. Corporate 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.