Stansberry Asset Management LLC Increases Stake in Apple Inc. (NASDAQ:AAPL)
Stansberry Asset Management LLC grew its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 0.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 44,452 shares of the iPhone maker’s stock after purchasing an additional 305 shares during the period. Apple comprises about 1.3% of Stansberry Asset Management LLC’s investment portfolio, making the stock its 28th largest holding. Stansberry Asset Management LLC’s holdings in Apple were worth $10,357,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Bull Oak Capital LLC raised its stake in shares of Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after acquiring an additional 111 shares during the period. Hershey Financial Advisers LLC purchased a new stake in shares of Apple in the second quarter valued at $42,000. Christopher J. Hasenberg Inc raised its stake in shares of Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after acquiring an additional 144 shares during the period. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Apple in the third quarter valued at $77,000. Finally, ARK Investment Management LLC purchased a new stake in shares of Apple in the third quarter valued at $110,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.
Insiders Place Their Bets
In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
AAPL has been the topic of a number of research analyst reports. Citigroup upped their price target on shares of Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Wedbush restated an “outperform” rating and issued a $325.00 price target on shares of Apple in a report on Thursday, January 23rd. JPMorgan Chase & Co. upped their price target on shares of Apple from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Needham & Company LLC restated a “buy” rating and issued a $260.00 price target on shares of Apple in a report on Friday, January 31st. Finally, Monness Crespi & Hardt upped their price target on shares of Apple to $245.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $242.52.
Check Out Our Latest Research Report on AAPL
Apple Stock Performance
Shares of Apple stock opened at $227.63 on Monday. The firm has a market capitalization of $3.42 trillion, a P/E ratio of 36.13, a PEG ratio of 2.32 and a beta of 1.20. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The company has a 50 day moving average price of $241.26 and a 200 day moving average price of $231.04. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10.
Apple (NASDAQ:AAPL – Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Sell-side analysts expect that Apple Inc. will post 7.28 EPS for the current year.
Apple Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 13th. Shareholders of record on Monday, February 10th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Monday, February 10th. Apple’s dividend payout ratio is presently 15.87%.
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.
See Also
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