Madrona Funds LLC bought a new position in shares of Apple Inc. (NASDAQ:AAPL) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,985 shares of the iPhone maker’s stock, valued at approximately $1,116,000.
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Several other institutional investors have also recently added to or reduced their stakes in AAPL. Avondale Wealth Management increased its position in Apple by 25.4% during the second quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock worth $63,000 after buying an additional 64 shares in the last quarter. NuWave Investment Management LLC grew its holdings in Apple by 2,245.0% during the 2nd quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock valued at $93,000 after buying an additional 449 shares in the last quarter. Kahn Brothers Group Inc. DE purchased a new stake in Apple during the 3rd quarter valued at approximately $112,000. Horan Securities Inc. grew its holdings in Apple by 64.2% during the 2nd quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock valued at $112,000 after buying an additional 221 shares in the last quarter. Finally, Belvedere Advisors LLC purchased a new stake in Apple during the 2nd quarter valued at approximately $119,000. 59.51% of the stock is owned by hedge funds and other institutional investors.
AAPL has been the subject of a number of research analyst reports. UBS Group reaffirmed a “buy” rating and set a $280.00 price objective on shares of Apple in a report on Tuesday, November 19th. Sanford C. Bernstein set a $205.00 price objective on shares of Apple and gave the company a “hold” rating in a report on Tuesday, September 3rd. Monness Crespi & Hardt increased their target price on Apple from $265.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Credit Suisse Group reiterated a “neutral” rating and set a $221.00 target price on shares of Apple in a research report on Tuesday, November 19th. Finally, Deutsche Bank increased their target price on Apple from $210.00 to $230.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. They noted that the move was a valuation call. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $244.54.
AAPL traded up $3.48 during trading on Monday, reaching $265.26. The company had a trading volume of 442,152 shares, compared to its average volume of 25,066,480. Apple Inc. has a 52 week low of $142.00 and a 52 week high of $268.00. The stock has a market cap of $1,164.18 billion, a P/E ratio of 22.29, a PEG ratio of 1.86 and a beta of 1.25. The business has a 50 day simple moving average of $246.79 and a 200-day simple moving average of $213.27. The company has a quick ratio of 1.50, a current ratio of 1.54 and a debt-to-equity ratio of 1.01.
Apple (NASDAQ:AAPL) last released its earnings results on Wednesday, October 30th. The iPhone maker reported $3.03 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.19. Apple had a return on equity of 53.82% and a net margin of 21.24%. The business had revenue of $64.04 billion during the quarter, compared to the consensus estimate of $62.86 billion. During the same period last year, the company earned $2.91 earnings per share. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, equities research analysts expect that Apple Inc. will post 13.17 EPS for the current fiscal year.
The firm 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 of this dividend was Thursday, November 7th. This represents a $3.08 annualized dividend and a dividend yield of 1.16%. Apple’s dividend payout ratio (DPR) is 25.90%.
In other news, insider Chris Kondo sold 3,932 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $233.26, for a total transaction of $917,178.32. Following the transaction, the insider now owns 15,464 shares in the company, valued at $3,607,132.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Arthur D. Levinson sold 37,394 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $301,788,823.83. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 182,998 shares of company stock valued at $42,351,593. Corporate insiders own 0.05% of the company’s stock.
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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