Choreo LLC Has $188.13 Million Stake in Apple Inc. (NASDAQ:AAPL)

Choreo LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 90.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 869,690 shares of the iPhone maker’s stock after acquiring an additional 413,678 shares during the quarter. Apple comprises about 3.1% of Choreo LLC’s portfolio, making the stock its 3rd largest holding. Choreo LLC’s holdings in Apple were worth $188,134,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Fidelis Capital Partners LLC grew its holdings in shares of Apple by 17.9% in the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after purchasing an additional 31,278 shares during the last quarter. Access Investment Management LLC bought a new position in Apple during the 1st quarter worth about $140,000. Hoese & Co LLP grew its holdings in Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after acquiring an additional 57 shares in the last quarter. Sage Financial Group Inc. bought a new position in Apple during the 2nd quarter worth about $206,000. Finally, Benchmark Wealth Management LLC bought a new position in Apple during the 2nd quarter worth about $208,000. Institutional investors own 60.41% of the company’s stock.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Chris Kondo sold 5,178 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the transaction, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the sale, the chief operating officer now owns 489,944 shares of the company’s stock, valued at $111,148,695.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 517,924 shares of company stock worth $114,786,399. Company insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $231.41 on Friday. 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 stock’s 50-day moving average is $226.86 and its 200-day moving average is $210.34. The firm has a market cap of $3.55 trillion, a price-to-earnings ratio of 35.99, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. Apple Inc. has a one year low of $164.07 and a one year high of $237.49.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The firm had revenue of $85.78 billion for 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 was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.26 earnings per share. Equities analysts predict that Apple Inc. will post 6.65 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AAPL. Maxim Group reiterated a “hold” rating and set a $203.00 target price on shares of Apple in a report on Tuesday, September 10th. Citigroup increased their target price on shares of Apple to $185.00 and gave the stock a “buy” rating in a report on Wednesday. TD Cowen increased their target price on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Tigress Financial raised their price target on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 28th. Finally, Wedbush restated an “outperform” rating and issued a $285.00 price target on shares of Apple in a report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $235.91.

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.