Apple Inc. (NASDAQ:AAPL) Stake Boosted by Channing Global Advisors LLC

Channing Global Advisors LLC raised its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 42.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,016 shares of the iPhone maker's stock after purchasing an additional 6,219 shares during the period. Apple accounts for 3.5% of Channing Global Advisors LLC's investment portfolio, making the stock its 10th biggest position. Channing Global Advisors LLC's holdings in Apple were worth $5,263,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Drystone LLC purchased a new position in shares of Apple in the 4th quarter worth about $25,000. Bull Oak Capital LLC boosted its stake in Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker's stock worth $36,000 after buying an additional 111 shares in the last quarter. SPX Gestao de Recursos Ltda bought a new position in Apple during the third quarter valued at approximately $71,000. Teachers Insurance & Annuity Association of America bought a new position in Apple during the third quarter valued at approximately $77,000. Finally, ARK Investment Management LLC purchased a new position in shares of Apple during the third quarter worth approximately $110,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Performance

NASDAQ AAPL traded up $2.52 on Friday, hitting $196.79. 51,328,536 shares of the company traded hands, compared to its average volume of 56,825,645. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. Apple Inc. has a 52-week low of $164.77 and a 52-week high of $260.10. The company has a market capitalization of $2.96 trillion, a price-to-earnings ratio of 31.24, a P/E/G ratio of 2.44 and a beta of 1.26. The business's 50 day moving average price is $219.65 and its 200-day moving average price is $230.13.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Equities analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, February 10th. Apple's dividend payout ratio is currently 15.87%.

Insider Activity at Apple

In other Apple news, CEO Timothy D. Cook sold 108,136 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the transaction, the chief executive officer now directly owns 3,280,295 shares in the company, valued at $733,637,976.75. This represents a 3.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the sale, the chief operating officer now directly owns 390,059 shares of the company's stock, valued at approximately $87,377,116.59. This trade represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 182,451 shares of company stock worth $40,818,720. Company insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of analyst reports. DA Davidson decreased their target price on shares of Apple from $290.00 to $230.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Monness Crespi & Hardt boosted their target price on Apple to $245.00 and gave the company a "buy" rating in a research note on Wednesday, January 22nd. Evercore ISI lifted their price target on Apple from $260.00 to $275.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 18th. Jefferies Financial Group raised Apple from an "underperform" rating to a "hold" rating and dropped their price objective for the company from $202.33 to $167.88 in a research note on Wednesday, April 9th. Finally, TD Cowen reaffirmed a "buy" rating on shares of Apple in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Apple presently has an average rating of "Moderate Buy" and an average target price of $235.85.

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.