Doheny Asset Management CA Has $7.45 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Doheny Asset Management CA trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 51.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,372 shares of the iPhone maker’s stock after selling 37,147 shares during the quarter. Apple makes up approximately 5.8% of Doheny Asset Management CA’s holdings, making the stock its 2nd largest position. Doheny Asset Management CA’s holdings in Apple were worth $7,450,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AAPL. Swedbank AB purchased a new stake in shares of Apple in the 1st quarter worth about $3,026,492,000. Strategic Financial Concepts LLC grew its holdings in Apple by 14,145.8% in the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after purchasing an additional 7,558,826 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Apple by 158.3% during the first quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after purchasing an additional 7,067,379 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Apple by 161.2% during the first quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock valued at $1,502,068,000 after purchasing an additional 5,405,542 shares during the last quarter. Finally, Natixis boosted its position in shares of Apple by 127.7% in the 1st quarter. Natixis now owns 4,632,987 shares of the iPhone maker’s stock worth $794,465,000 after purchasing an additional 2,598,742 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Activity

In related news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 value of $1,121,037.00. Following the transaction, the insider now owns 24,125 shares of the company’s stock, valued at $5,223,062.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 517,924 shares of company stock valued at $114,786,399 in the last ninety days. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of recent research reports. Evercore ISI reiterated a “buy” rating and set a $250.00 price objective on shares of Apple in a research note on Thursday, September 26th. Robert W. Baird upped their price target on shares of Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Piper Sandler Companies restated a “neutral” rating and set a $225.00 price objective (up from $190.00) on shares of Apple in a research note on Tuesday, July 9th. 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. Finally, Moffett Nathanson initiated coverage on shares of Apple in a research report on Monday, August 19th. They set a “neutral” rating and a $211.00 price target for the company. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $235.91.

Apple Stock Up 0.4 %

NASDAQ AAPL opened at $231.41 on Monday. The stock’s 50-day moving average price is $226.86 and its 200-day moving average price is $210.64. The company has a market capitalization of $3.55 trillion, a P/E ratio of 35.99, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. During the same quarter in the prior year, the business posted $1.26 EPS. Apple’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities research analysts predict that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were given a dividend of $0.25 per share. 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 is 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.