GAMMA Investing LLC Grows Stake in Apple Inc. $AAPL

GAMMA Investing LLC raised its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 14.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 317,506 shares of the iPhone maker’s stock after purchasing an additional 39,743 shares during the period. Apple makes up about 4.5% of GAMMA Investing LLC’s investment portfolio, making the stock its 3rd largest holding. GAMMA Investing LLC’s holdings in Apple were worth $80,847,000 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. bought a new stake in Apple in the 2nd quarter worth about $31,000. ROSS JOHNSON & Associates LLC boosted its holdings in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 180 shares during the last quarter. Nexus Investment Management ULC grew its stake in shares of Apple by 333.3% in 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. Elite Financial Inc. bought a new position in Apple during the first quarter valued at approximately $58,000. Finally, LSV Asset Management purchased a new stake in Apple in the fourth quarter worth approximately $65,000. Institutional investors own 67.73% of the company’s stock.

Apple Price Performance

NASDAQ AAPL opened at $271.84 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 1.06. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $288.62. The stock has a market cap of $4.02 trillion, a price-to-earnings ratio of 36.39, a PEG ratio of 2.57 and a beta of 1.10. The company’s 50 day moving average is $269.23 and its two-hundred day moving average is $238.57.

Apple (NASDAQ:AAPL) last announced 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 firm had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a net margin of 26.92% and a return on equity of 164.05%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.64 earnings per share. As a group, research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

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

Insider Buying and Selling at Apple

In other news, CFO Kevan Parekh sold 4,199 shares of the business’s stock in a transaction dated Thursday, October 16th. The stock was 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. The trade was a 32.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the sale, the senior vice president 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 SEC filing for this sale provides additional information. Over the last quarter, insiders sold 228,052 shares of company stock valued at $58,604,588. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AAPL shares. Loop Capital reiterated a “buy” rating and set a $325.00 target price (up from $315.00) on shares of Apple in a research note on Tuesday, December 2nd. Seaport Res Ptn raised Apple to a “strong-buy” rating in a report on Wednesday, October 1st. Barclays raised their target price on Apple from $180.00 to $230.00 and gave the stock an “underweight” rating in a research report on Friday, October 31st. Tigress Financial upped their price target on shares of Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a research report on Wednesday, September 17th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Apple in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $283.92.

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.