Resources Management Corp CT ADV purchased a new stake in Apple Inc. (NASDAQ:AAPL) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 82,361 shares of the iPhone maker’s stock, valued at approximately $18,446,000. Apple makes up about 3.4% of Resources Management Corp CT ADV’s portfolio, making the stock its 2nd largest position.
Several other hedge funds have also recently made changes to their positions in the business. Avondale Wealth Management raised its position in Apple by 25.4% in the second quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock worth $63,000 after purchasing an additional 64 shares in the last quarter. Horan Securities Inc. raised its holdings in shares of Apple by 64.2% in the 2nd quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock worth $112,000 after buying an additional 221 shares in the last quarter. Kahn Brothers Group Inc. DE bought a new position in shares of Apple during the 3rd quarter worth approximately $112,000. Belvedere Advisors LLC bought a new position in shares of Apple during the 2nd quarter worth approximately $119,000. Finally, Fulcrum Equity Management acquired a new stake in Apple in the 3rd quarter valued at $135,000. Institutional investors own 59.19% of the company’s stock.
In other news, Director Arthur D. Levinson sold 37,394 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $257.79, for a total value of $9,639,799.26. Following the transaction, the director now owns 1,170,677 shares of the company’s stock, valued at approximately $301,788,823.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 67,554 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $219.04, for a total transaction of $14,797,028.16. Following the completion of the transaction, the chief operating officer now directly owns 237,517 shares in the company, valued at approximately $52,025,723.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 182,998 shares of company stock valued at $42,351,593. 0.05% of the stock is currently owned by corporate insiders.
AAPL has been the subject of several recent analyst reports. Wedbush reiterated a “buy” rating and set a $325.00 price objective (up from $300.00) on shares of Apple in a research note on Friday, November 15th. They noted that the move was a valuation call. Daiwa Capital Markets set a $223.00 target price on shares of Apple and gave the company a “buy” rating in a research note on Wednesday, August 7th. DZ Bank upgraded shares of Apple from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Rosenblatt Securities set a $150.00 target price on shares of Apple and gave the stock a “sell” rating in a report on Friday, September 13th. Finally, Loop Capital increased their target price on shares of Apple to $250.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Apple has an average rating of “Hold” and an average target price of $244.70.
AAPL stock traded up $2.29 during trading on Wednesday, hitting $261.74. The company had a trading volume of 16,236,750 shares, compared to its average volume of 20,557,046. The company has a quick ratio of 1.50, a current ratio of 1.54 and a debt-to-equity ratio of 1.01. The firm has a 50-day moving average price of $254.72 and a 200-day moving average price of $216.92. Apple Inc. has a 12 month low of $142.00 and a 12 month high of $268.25. The stock has a market cap of $1,162.98 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 1.90 and a beta of 1.24.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Wednesday, October 30th. The iPhone maker reported $3.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.19. The firm had revenue of $64.04 billion for the quarter, compared to the consensus estimate of $62.86 billion. Apple had a return on equity of 53.82% and a net margin of 21.24%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.91 EPS. Equities analysts expect that Apple Inc. will post 13.18 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a dividend of $0.77 per share. The ex-dividend date was Thursday, November 7th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.18%. Apple’s payout ratio is currently 25.90%.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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