Raelipskie Partnership Raises Position in Apple Inc. (NASDAQ:AAPL)

Raelipskie Partnership boosted its stake in Apple Inc. (NASDAQ:AAPL) by 1.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,899 shares of the iPhone maker’s stock after buying an additional 340 shares during the period. Apple accounts for approximately 2.6% of Raelipskie Partnership’s portfolio, making the stock its 11th largest position. Raelipskie Partnership’s holdings in Apple were worth $4,823,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AAPL. Wheelhouse Advisory Group LLC bought a new position in shares of Apple during the fourth quarter valued at approximately $1,306,000. Knights of Columbus Asset Advisors LLC increased its stake in shares of Apple by 1.0% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 284,563 shares of the iPhone maker’s stock valued at $54,787,000 after purchasing an additional 2,804 shares in the last quarter. Ninepoint Partners LP increased its stake in shares of Apple by 19.5% during the fourth quarter. Ninepoint Partners LP now owns 5,553 shares of the iPhone maker’s stock valued at $1,069,000 after purchasing an additional 905 shares in the last quarter. Zhang Financial LLC increased its stake in shares of Apple by 3.4% during the fourth quarter. Zhang Financial LLC now owns 184,471 shares of the iPhone maker’s stock valued at $35,516,000 after purchasing an additional 6,014 shares in the last quarter. Finally, Roth Financial Partners LLC increased its stake in shares of Apple by 4.5% during the fourth quarter. Roth Financial Partners LLC now owns 11,565 shares of the iPhone maker’s stock valued at $2,227,000 after purchasing an additional 501 shares in the last quarter. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on AAPL. UBS Group raised their target price on shares of Apple from $190.00 to $236.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. KeyCorp reissued a “hold” rating and set a $247.61 price target on shares of Apple in a research report on Wednesday, August 28th. Raymond James raised their price target on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $265.00 price target on shares of Apple in a research report on Tuesday, September 10th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $261.00 price target on shares of Apple in a research report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average price target of $239.17.

Apple Stock Down 2.8 %

AAPL opened at $216.32 on Tuesday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23. The firm’s fifty day moving average is $222.91 and its 200 day moving average is $199.00. The stock has a market cap of $3.32 trillion, a price-to-earnings ratio of 33.64, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter in the prior year, the firm earned $1.26 EPS. The business’s revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts forecast that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date was Monday, August 12th. Apple’s payout ratio is 15.55%.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,469,275. The disclosure for this sale can be found here. Insiders have sold a total of 113,884 shares of company stock valued at $23,723,887 in the last quarter. 0.06% of the stock is currently owned by insiders.

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.