Sykon Capital LLC raised its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 41.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,621 shares of the iPhone maker's stock after purchasing an additional 7,253 shares during the quarter. Apple comprises 2.0% of Sykon Capital LLC's holdings, making the stock its 17th biggest position. Sykon Capital LLC's holdings in Apple were worth $5,186,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in AAPL. Bellwether Advisors LLC raised its position in Apple by 387.3% during the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker's stock worth $5,128,000 after buying an additional 19,352 shares during the last quarter. Gentry Private Wealth LLC purchased a new position in shares of Apple during the second quarter worth $876,000. WT Asset Management Ltd purchased a new position in shares of Apple during the second quarter worth $80,057,000. TD Asset Management Inc lifted its position in Apple by 10.3% during the second quarter. TD Asset Management Inc now owns 16,745,201 shares of the iPhone maker's stock valued at $3,526,874,000 after purchasing an additional 1,557,848 shares during the period. Finally, Councilmark Asset Management LLC purchased a new stake in Apple in the first quarter valued at $11,776,000. Hedge funds and other institutional investors own 60.41% of the company's stock.
Insiders Place Their Bets
In other news, CFO Luca Maestri sold 59,305 shares of the company's stock in a transaction on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the transaction, the chief financial officer now owns 107,788 shares of the company's stock, valued at $24,416,137.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Luca Maestri sold 59,305 shares of the business's stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the sale, the chief financial officer now directly owns 107,788 shares of the company's stock, valued at approximately $24,416,137.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the 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 transaction, the senior vice president now directly owns 191,543 shares of the company's stock, valued at $39,542,136.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 517,924 shares of company stock valued at $114,786,399 over the last quarter. 0.06% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the company. Citigroup boosted their price objective on Apple to $185.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Tigress Financial boosted their price target on Apple from $245.00 to $295.00 and gave the company a "strong-buy" rating in a report on Wednesday, August 28th. The Goldman Sachs Group upped their price objective on Apple from $265.00 to $275.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. Jefferies Financial Group lowered shares of Apple from a "buy" rating to a "hold" rating and lifted their target price for the company from $205.00 to $212.92 in a report on Monday, October 7th. Finally, Moffett Nathanson assumed coverage on shares of Apple in a report on Monday, August 19th. They set a "neutral" rating and a $211.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $235.91.
Get Our Latest Report on AAPL
Apple Trading Down 1.8 %
Shares of AAPL stock traded down $4.19 on Thursday, hitting $225.91. 63,984,468 shares of the stock traded hands, compared to its average volume of 59,357,734. 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 twelve month low of $164.07 and a twelve month high of $237.49. The firm's 50-day moving average price is $227.23 and its two-hundred day moving average price is $211.59. The stock has a market capitalization of $3.43 trillion, a PE ratio of 34.39, a PEG ratio of 2.40 and a beta of 1.24.
Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. Apple's revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.26 EPS. As a group, analysts anticipate that Apple Inc. will post 6.65 EPS for the current year.
Apple Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple's payout ratio is 15.22%.
About Apple
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Free Report)
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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