Prairiewood Capital LLC Acquires 91 Shares of Apple Inc. $AAPL

Prairiewood Capital LLC lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,086 shares of the iPhone maker’s stock after acquiring an additional 91 shares during the quarter. Prairiewood Capital LLC’s holdings in Apple were worth $633,000 as of its most recent SEC filing.

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

Apple Price Performance

Shares of NASDAQ AAPL opened at $245.27 on Monday. The stock has a market capitalization of $3.64 trillion, a PE ratio of 37.22, a P/E/G ratio of 2.39 and a beta of 1.09. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The business has a fifty day moving average price of $237.61 and a two-hundred day moving average price of $215.83. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. During the same period in the previous year, the firm earned $1.40 EPS. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. As a group, equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s payout ratio is 15.78%.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 129,963 shares of the business’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the completion of the transaction, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at approximately $842,412,558.95. The trade was a 3.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction on 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 transaction, the senior vice president directly owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This trade represents a 20.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 254,922 shares of company stock valued at $64,320,190. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the subject of several recent research reports. HSBC set a $220.00 price target on Apple and gave the company a “hold” rating in a research note on Monday, September 8th. Wedbush set a $310.00 price target on Apple and gave the company an “outperform” rating in a research note on Monday, September 22nd. Citigroup restated a “buy” rating on shares of Apple in a research note on Wednesday, September 10th. Morgan Stanley set a $298.00 price target on Apple and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Finally, Jefferies Financial Group downgraded Apple from a “hold” rating to an “underperform” rating and reduced their price target for the company from $205.82 to $205.16 in a research note on Friday, October 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $248.29.

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.