Single Point Partners LLC Has $3.14 Million Holdings in Apple Inc. $AAPL

Single Point Partners LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 2.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,320 shares of the iPhone maker’s stock after selling 305 shares during the period. Apple comprises about 0.6% of Single Point Partners LLC’s holdings, making the stock its 24th largest position. Single Point Partners LLC’s holdings in Apple were worth $3,143,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Ryan Investment Management Inc. acquired a new position in Apple in the 2nd quarter worth about $31,000. ROSS JOHNSON & Associates LLC increased its position in Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares during the last quarter. Elite Financial Inc. acquired a new position in Apple in the 1st quarter worth about $58,000. LSV Asset Management acquired a new position in shares of Apple during the 4th quarter valued at about $65,000. Finally, HFM Investment Advisors LLC acquired a new position in shares of Apple during the 1st quarter valued at about $99,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

Shares of AAPL stock opened at $262.82 on Friday. The stock has a 50 day moving average of $244.15 and a two-hundred day moving average of $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 Inc. has a 12 month low of $169.21 and a 12 month high of $265.29. The company has a market capitalization of $3.90 trillion, a P/E ratio of 39.88, a P/E/G ratio of 2.52 and a beta of 1.09.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping 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 company had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter last year, the company earned $1.40 EPS. The company’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, equities analysts expect that Apple Inc. will post 7.28 EPS for the current 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 $0.26 dividend. 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%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AAPL. UBS Group reissued a “neutral” rating on shares of Apple in a report on Monday, September 8th. Phillip Securities lowered Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price objective on the stock. in a report on Thursday, September 11th. Sanford C. Bernstein began coverage on Apple in a report on Monday, September 15th. They set an “outperform” rating and a $290.00 price objective on the stock. Raymond James Financial reissued an “outperform” rating and set a $240.00 price objective (up previously from $230.00) on shares of Apple in a report on Friday, August 1st. Finally, The Goldman Sachs Group set a $279.00 price objective on Apple and gave the company a “buy” rating in a report on Tuesday. Four analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.47.

Insider Transactions at Apple

In other Apple news, CEO Timothy D. Cook sold 129,963 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. This trade represents a 3.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 43,013 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at $35,181,866.93. This represents a 23.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 259,121 shares of company stock worth $65,358,981 over the last 90 days. Insiders own 0.06% of the company’s stock.

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.