Apple Inc. (NASDAQ:AAPL) is Oppenheimer Asset Management Inc.'s 5th Largest Position

Oppenheimer Asset Management Inc. grew its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 24.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 550,773 shares of the iPhone maker's stock after buying an additional 108,201 shares during the period. Apple accounts for about 1.5% of Oppenheimer Asset Management Inc.'s holdings, making the stock its 5th biggest holding. Oppenheimer Asset Management Inc.'s holdings in Apple were worth $128,330,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Bull Oak Capital LLC increased its holdings 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 purchasing an additional 111 shares in the last quarter. Hershey Financial Advisers LLC acquired a new stake in shares of Apple during the 2nd quarter worth approximately $42,000. Christopher J. Hasenberg Inc increased its stake in shares of Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker's stock valued at $69,000 after acquiring an additional 144 shares in the last quarter. ARK Investment Management LLC acquired a new position in shares of Apple during the 3rd quarter valued at $110,000. Finally, Cordant Inc. boosted its stake in Apple by 34.3% during the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker's stock worth $158,000 after acquiring an additional 173 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Price Performance

AAPL stock traded down $7.34 during mid-day trading on Tuesday, reaching $222.64. 97,741,716 shares of the company traded hands, compared to its average volume of 54,004,285. The company has a fifty day moving average price of $241.12 and a 200-day moving average price of $230.85. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10. The company has a market capitalization of $3.35 trillion, a P/E ratio of 36.62, a P/E/G ratio of 2.25 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 (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $94.52 billion. During the same quarter in the previous year, the company earned $1.46 earnings per share. Apple's revenue for the quarter was up 6.1% on a year-over-year basis. As a group, analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Friday, November 8th. Apple's dividend payout ratio is 16.45%.

Analyst Ratings Changes

AAPL has been the subject of a number of research analyst reports. Oppenheimer reaffirmed a "buy" rating and issued a $250.00 target price on shares of Apple in a research report on Tuesday, October 1st. Needham & Company LLC reaffirmed a "buy" rating and set a $260.00 target price on shares of Apple in a research report on Tuesday. Rosenblatt Securities lifted their price target on shares of Apple from $261.00 to $262.00 and gave the company a "buy" rating in a research report on Friday, November 1st. KeyCorp downgraded shares of Apple from a "sector weight" rating to an "underweight" rating and set a $200.00 price objective on the stock. in a report on Friday, October 25th. Finally, StockNews.com cut shares of Apple from a "buy" rating to a "hold" rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $238.02.

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,130 shares of the company's 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 directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the sale, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Apple 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.