Apple Inc. (NASDAQ:AAPL) Shares Acquired by Bay Rivers Group

Bay Rivers Group raised its position in Apple Inc. (NASDAQ:AAPL) by 0.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,721 shares of the iPhone maker’s stock after buying an additional 554 shares during the period. Apple makes up about 7.9% of Bay Rivers Group’s holdings, making the stock its biggest holding. Bay Rivers Group’s holdings in Apple were worth $15,106,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Christopher J. Hasenberg Inc bought a new position in Apple during the 1st quarter valued at $35,000. Fidelis Capital Partners LLC increased its holdings in Apple by 17.9% in the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after buying an additional 31,278 shares during the last quarter. A.P. Gilfoyle & Co. L.P. acquired a new stake in Apple during the fourth quarter valued at approximately $39,000. University of Texas Texas AM Investment Managment Co. lifted its holdings in Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after buying an additional 368 shares during the last quarter. Finally, Clarity Asset Management Inc. bought a new stake in shares of Apple in the 4th quarter valued at approximately $85,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Barclays decreased their price objective on shares of Apple from $187.00 to $186.00 and set an “underweight” rating for the company in a report on Friday, August 2nd. Citigroup reaffirmed a “buy” rating and issued a $255.00 price target on shares of Apple in a report on Tuesday, August 27th. Bank of America reiterated a “buy” rating and set a $256.00 price objective on shares of Apple in a research note on Thursday, September 5th. TD Cowen lifted their target price on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Monness Crespi & Hardt reiterated a “buy” rating and set a $245.00 price target on shares of Apple in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $239.17.

Insider Activity at Apple

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

Apple Stock Performance

Shares of AAPL opened at $228.20 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The firm’s 50 day moving average is $222.41 and its 200-day moving average is $200.41. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.23. The stock has a market capitalization of $3.50 trillion, a P/E ratio of 35.49, a P/E/G ratio of 2.62 and a beta of 1.24.

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

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio is 15.55%.

About Apple

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.