QRG Capital Management Inc. Has $567.54 Million Holdings in Apple Inc. $AAPL

QRG Capital Management Inc. increased its position in Apple Inc. (NASDAQ:AAPL) by 5.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,766,202 shares of the iPhone maker’s stock after buying an additional 151,438 shares during the period. Apple comprises approximately 5.0% of QRG Capital Management Inc.’s holdings, making the stock its 3rd largest position. QRG Capital Management Inc.’s holdings in Apple were worth $567,542,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Burkett Financial Services LLC boosted its holdings in Apple by 0.6% in the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock worth $3,199,000 after buying an additional 93 shares during the period. Avid Wealth Partners LLC boosted its holdings in Apple by 28.3% in the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock worth $935,000 after buying an additional 930 shares during the period. Bell & Brown Wealth Advisors LLC boosted its holdings in Apple by 0.4% in the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock worth $13,772,000 after buying an additional 240 shares during the period. American National Bank & Trust boosted its holdings in Apple by 2.4% in the 2nd quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock worth $40,107,000 after buying an additional 4,543 shares during the period. Finally, Andina Capital Management LLC boosted its holdings in Apple by 209.2% in the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock worth $1,507,000 after buying an additional 4,591 shares during the period. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $262.82 on Friday. The company has a market capitalization of $3.90 trillion, a price-to-earnings ratio of 39.88, a PEG ratio of 2.52 and a beta of 1.09. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $265.29. The firm’s 50-day moving average is $244.15 and its 200 day moving average is $219.18. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating 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 period in the prior year, the firm posted $1.40 EPS. Research analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

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

Analyst Ratings Changes

Several brokerages have commented on AAPL. Moffett Nathanson upgraded shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 price target on the stock in a research note on Thursday, September 4th. Jefferies Financial Group cut shares of Apple from a “moderate sell” rating to a “strong sell” rating in a research note on Monday, October 20th. Barclays boosted their price target on shares of Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a research note on Friday, August 1st. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a research note on Friday, July 25th. Finally, CLSA upgraded shares of Apple to a “strong-buy” rating in a research note on Sunday, October 5th. Four analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $252.47.

Insider Activity

In other Apple news, CFO Kevan Parekh sold 4,199 shares of the company’s stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $247.39, for a total value of $1,038,790.61. Following the transaction, the chief financial officer directly owned 8,765 shares in the company, valued at $2,168,373.35. This represents a 32.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 129,963 shares of the company’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the completion of the transaction, the chief executive officer owned 3,280,295 shares in the company, valued at $842,412,558.95. This represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 259,121 shares of company stock valued at $65,358,981. 0.06% of the stock is currently owned by company 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.