AlTi Global Inc. Has $60.97 Million Holdings in Apple Inc. $AAPL

AlTi Global Inc. grew its holdings in Apple Inc. (NASDAQ:AAPL) by 3.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 292,230 shares of the iPhone maker’s stock after purchasing an additional 8,830 shares during the period. Apple makes up 1.5% of AlTi Global Inc.’s portfolio, making the stock its 13th biggest position. AlTi Global Inc.’s holdings in Apple were worth $60,971,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Ryan Investment Management Inc. acquired a new position in Apple in the 2nd quarter valued at approximately $31,000. ROSS JOHNSON & Associates LLC increased its stake in shares of Apple by 1,800.0% in the first 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 period. Nexus Investment Management ULC increased its position in Apple by 333.3% during the second quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock worth $53,000 after acquiring an additional 200 shares during the period. LSV Asset Management acquired a new stake in Apple during the fourth quarter worth about $65,000. Finally, Elite Financial Inc. acquired a new stake in Apple during the first quarter worth $58,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AAPL. Wall Street Zen lowered Apple from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Jefferies Financial Group upgraded Apple from an “underperform” rating to a “hold” rating and upped their price objective for the company from $203.07 to $246.99 in a report on Friday, October 31st. Wedbush restated an “outperform” rating on shares of Apple in a report on Tuesday, October 21st. Morgan Stanley boosted their price target on shares of Apple from $298.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Finally, Sanford C. Bernstein set a $325.00 price target on Apple in a report on Monday, November 3rd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average target price of $278.22.

Apple Stock Up 1.6%

Shares of NASDAQ:AAPL opened at $275.92 on Tuesday. The business has a fifty day simple moving average of $260.27 and a 200 day simple moving average of $229.92. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $277.32. The firm has a market cap of $4.08 trillion, a P/E ratio of 41.87, a P/E/G ratio of 2.62 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. The company had revenue of $102.47 billion during the quarter, compared to the consensus estimate of $101.65 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm’s revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company earned $1.64 earnings per share. Analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 10th were given a $0.26 dividend. The ex-dividend date was Monday, November 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s payout ratio is 13.92%.

Insider Transactions at Apple

In related news, CEO Timothy D. Cook sold 129,963 shares of the business’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total value of $33,375,798.03. Following the transaction, the chief executive officer owned 3,280,295 shares in the company, valued at $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevan Parekh sold 4,199 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer directly owned 8,765 shares of the company’s stock, valued at $2,168,373.35. This trade represents a 32.39% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 228,052 shares of company stock worth $58,604,588. Company insiders own 0.06% of the company’s stock.

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.