Black Diamond Financial LLC raised its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,956 shares of the iPhone maker's stock after buying an additional 1,194 shares during the quarter. Apple comprises about 1.2% of Black Diamond Financial LLC's investment portfolio, making the stock its 28th biggest position. Black Diamond Financial LLC's holdings in Apple were worth $6,980,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the stock. International Assets Investment Management LLC grew its stake in Apple by 20,372.7% in the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker's stock worth $219,829,700,000 after acquiring an additional 93,886,664 shares during the period. Strategic Financial Concepts LLC boosted its holdings in shares of Apple by 14,145.8% during the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker's stock worth $1,603,000 after purchasing an additional 7,558,826 shares during the last quarter. Pathway Financial Advisers LLC grew its position in shares of Apple by 22,870.6% in the third quarter. Pathway Financial Advisers LLC now owns 5,590,588 shares of the iPhone maker's stock valued at $1,302,607,000 after purchasing an additional 5,566,250 shares during the period. William Blair Investment Management LLC acquired a new position in Apple in the second quarter valued at $834,368,000. Finally, National Pension Service lifted its position in Apple by 14.0% during the third quarter. National Pension Service now owns 27,882,996 shares of the iPhone maker's stock worth $6,496,738,000 after buying an additional 3,416,922 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.
Apple Stock Down 0.1 %
AAPL traded down $0.17 during trading on Thursday, hitting $223.66. The company had a trading volume of 60,167,077 shares, compared to its average volume of 55,194,383. The company has a market cap of $3.36 trillion, a PE ratio of 36.79, a P/E/G ratio of 2.18 and a beta of 1.20. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The business has a 50-day moving average of $241.07 and a 200-day moving average of $230.77.
Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.46 EPS. As a group, analysts forecast that Apple Inc. will post 7.43 earnings per share for the current year.
Apple Announces Dividend
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 $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple's payout ratio is 16.45%.
Insider Activity
In other Apple news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares of the company's stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the business's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now owns 389,944 shares of the company's stock, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.06% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have commented on AAPL shares. Loop Capital cut Apple from a "buy" rating to a "hold" rating and set a $230.00 price target for the company. in a report on Tuesday. Bank of America restated a "buy" rating and issued a $256.00 target price on shares of Apple in a report on Friday, January 3rd. KeyCorp downgraded shares of Apple from a "sector weight" rating to an "underweight" rating and set a $200.00 price target on the stock. in a research note on Friday, October 25th. Citigroup boosted their price objective on shares of Apple to $185.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Finally, Maxim Group upped their price objective on Apple from $203.00 to $215.00 and gave the stock a "hold" rating in a report on Friday, November 1st. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $238.14.
Read Our Latest Stock Report on Apple
About Apple
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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.
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