Sunpointe LLC Has $6.11 Million Position in Apple Inc. (NASDAQ:AAPL)

Sunpointe LLC grew its position in Apple Inc. (NASDAQ:AAPL) by 15.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,017 shares of the iPhone maker’s stock after purchasing an additional 3,979 shares during the quarter. Apple makes up about 4.0% of Sunpointe LLC’s portfolio, making the stock its 3rd largest position. Sunpointe LLC’s holdings in Apple were worth $6,112,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AAPL. Norges Bank bought a new stake in Apple during the fourth quarter valued at $33,912,466,000. Vanguard Group Inc. grew its stake in Apple by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock worth $253,766,929,000 after purchasing an additional 18,067,216 shares during the period. Swedbank AB bought a new stake in Apple in the first quarter worth approximately $3,026,492,000. Global Assets Advisory LLC lifted its stake in Apple by 23,076.4% in the first quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock valued at $1,584,512,000 after buying an additional 9,200,345 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Apple by 158.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock worth $1,977,582,000 after buying an additional 7,067,379 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AAPL. Cfra lifted their price target on shares of Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. DA Davidson upgraded Apple from a “neutral” rating to a “buy” rating and increased their price target for the stock from $200.00 to $230.00 in a report on Tuesday, June 11th. Barclays lowered their target price on Apple from $187.00 to $186.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. Rosenblatt Securities reissued a “buy” rating and issued a $261.00 price target on shares of Apple in a research report on Tuesday, September 10th. Finally, Loop Capital raised shares of Apple from a “hold” rating to a “buy” rating and raised their price objective for the company from $170.00 to $300.00 in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $239.17.

Insider Activity at Apple

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Apple news, insider Chris Kondo sold 8,706 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,469,275. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,884 shares of company stock worth $23,723,887. 0.06% of the stock is owned by company insiders.

Apple Price Performance

NASDAQ AAPL opened at $228.20 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The company has a market cap of $3.50 trillion, a PE ratio of 35.49, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.23. The firm’s 50-day simple moving average is $222.41 and its two-hundred day simple moving average is $199.99.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. During the same period in the prior year, the company posted $1.26 EPS. Apple’s revenue was up 4.9% compared to the same quarter last year. Research analysts predict that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio (DPR) is presently 15.55%.

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.