Apple Inc. (NASDAQ:AAPL) is GAMMA Investing LLC's Largest Position

GAMMA Investing LLC increased its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 34.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 200,214 shares of the iPhone maker's stock after buying an additional 51,842 shares during the quarter. Apple makes up 4.6% of GAMMA Investing LLC's holdings, making the stock its biggest position. GAMMA Investing LLC's holdings in Apple were worth $46,650,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First International Bank & Trust boosted its position in Apple by 8.0% during the third quarter. First International Bank & Trust now owns 6,215 shares of the iPhone maker's stock worth $1,448,000 after purchasing an additional 458 shares during the period. waypoint wealth counsel raised its stake in Apple by 4.7% in the third quarter. waypoint wealth counsel now owns 29,507 shares of the iPhone maker's stock valued at $6,875,000 after purchasing an additional 1,317 shares in the last quarter. Wright Investors Service Inc. raised its stake in Apple by 7.2% in the third quarter. Wright Investors Service Inc. now owns 87,347 shares of the iPhone maker's stock valued at $20,352,000 after purchasing an additional 5,841 shares in the last quarter. Quent Capital LLC lifted its position in Apple by 6.6% during the third quarter. Quent Capital LLC now owns 137,845 shares of the iPhone maker's stock worth $32,042,000 after purchasing an additional 8,483 shares during the period. Finally, Arkansas Financial Group Inc. lifted its position in Apple by 46.8% during the third quarter. Arkansas Financial Group Inc. now owns 6,863 shares of the iPhone maker's stock worth $1,599,000 after purchasing an additional 2,187 shares during the period. 60.41% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Timothy D. Cook sold 223,986 shares of the company's stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 6.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the sale, the chief operating officer now owns 489,944 shares in the company, valued at approximately $111,148,695.84. This represents a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 408,170 shares of company stock valued at $92,007,745. Corporate insiders own 0.06% of the company's stock.

Apple Trading Down 0.8 %

Shares of NASDAQ:AAPL traded down $1.76 on Wednesday, reaching $226.52. 15,109,353 shares of the company traded hands, compared to its average volume of 58,317,230. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The business's 50-day simple moving average is $227.34 and its 200 day simple moving average is $217.31. The stock has a market capitalization of $3.42 trillion, a P/E ratio of 37.33, a price-to-earnings-growth ratio of 2.20 and a beta of 1.24. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts' consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same period in the prior year, the business posted $1.46 earnings per share. Apple's revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple's dividend payout ratio (DPR) is presently 16.45%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AAPL. Wedbush reissued an "outperform" rating and issued a $285.00 target price on shares of Apple in a report on Monday, September 9th. UBS Group increased their target price on shares of Apple to $236.00 and gave the stock a "hold" rating in a report on Tuesday, November 12th. The Goldman Sachs Group increased their target price on shares of Apple from $265.00 to $275.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. Needham & Company LLC reiterated a "buy" rating and issued a $260.00 price objective on shares of Apple in a report on Friday, November 1st. Finally, Raymond James raised their price objective on shares of Apple from $200.00 to $250.00 and gave the company an "outperform" rating in a report on Friday, July 26th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $235.25.

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.