North Point Portfolio Managers Corp OH Boosts Stake in Apple Inc. (NASDAQ:AAPL)

North Point Portfolio Managers Corp OH raised its position in shares of Apple Inc. (NASDAQ:AAPL) by 22.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,401 shares of the iPhone maker’s stock after acquiring an additional 1,164 shares during the period. North Point Portfolio Managers Corp OH’s holdings in Apple were worth $1,348,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Brown Financial Advisory increased its position in Apple by 3.8% during the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after buying an additional 50 shares during the last quarter. Core Wealth Management Inc. grew its position in shares of Apple by 1.7% in the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after purchasing an additional 50 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. grew its position in shares of Apple by 1.1% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock valued at $949,000 after purchasing an additional 51 shares during the last quarter. Foresight Capital Management Advisors Inc. grew its position in shares of Apple by 0.3% in the second quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock valued at $4,003,000 after purchasing an additional 55 shares during the last quarter. Finally, Altus Wealth Management LLC grew its position in shares of Apple by 0.6% in the second quarter. Altus Wealth Management LLC now owns 9,508 shares of the iPhone maker’s stock valued at $2,002,000 after purchasing an additional 55 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Wedbush reaffirmed an “outperform” rating and issued a $285.00 price target on shares of Apple in a research report on Monday, September 9th. Robert W. Baird increased their target price on shares of Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Morgan Stanley reiterated an “overweight” rating and issued a $273.00 target price on shares of Apple in a research note on Tuesday, September 10th. KeyCorp reiterated a “hold” rating and issued a $247.61 target price on shares of Apple in a research note on Wednesday, August 28th. Finally, Monness Crespi & Hardt reiterated a “buy” rating and issued a $245.00 target price on shares of Apple in a research note on Monday, September 9th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.27.

Apple Stock Up 1.8 %

Shares of NASDAQ:AAPL opened at $225.77 on Wednesday. The company has a market capitalization of $3.46 trillion, a PE ratio of 35.11, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24. 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 business has a fifty day moving average price of $222.96 and a two-hundred day moving average price of $204.59. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.23.

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

Apple Announces Dividend

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

Insider Transactions at Apple

In related news, CFO Luca Maestri sold 59,305 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. In related news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 517,924 shares of company stock worth $114,786,399. 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.