Apple Inc. (NASDAQ:AAPL) Shares Purchased by Marco Investment Management LLC

Marco Investment Management LLC raised its position in Apple Inc. (NASDAQ:AAPL) by 0.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 279,139 shares of the iPhone maker’s stock after acquiring an additional 385 shares during the quarter. Apple makes up about 5.4% of Marco Investment Management LLC’s investment portfolio, making the stock its 2nd largest holding. Marco Investment Management LLC’s holdings in Apple were worth $58,792,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of AAPL. Swedbank AB acquired a new stake in shares of Apple during the 1st quarter worth about $3,026,492,000. Strategic Financial Concepts LLC lifted its stake in shares of Apple by 14,145.8% during the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after buying an additional 7,558,826 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake 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 during the last quarter. Lazard Asset Management LLC lifted its stake in shares of Apple by 161.2% during the 1st quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock worth $1,502,068,000 after buying an additional 5,405,542 shares during the last quarter. Finally, Natixis lifted its stake in shares of Apple by 127.7% during the 1st quarter. Natixis now owns 4,632,987 shares of the iPhone maker’s stock worth $794,465,000 after buying an additional 2,598,742 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AAPL shares. Robert W. Baird lifted their price objective 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 reiterated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research note on Wednesday, October 9th. Evercore ISI reiterated a “buy” rating and issued a $250.00 price objective on shares of Apple in a research note on Thursday, September 26th. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Apple in a research note on Thursday, September 19th. Finally, Cfra lifted their price objective on shares of Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $235.91.

Insider Buying and Selling

In related news, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction that occurred on Friday, October 4th. The shares were 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 directly owns 107,788 shares in the company, valued at $24,416,137.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction that occurred on 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 owns 107,788 shares in the company, valued at approximately $24,416,137.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $39,542,136.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 517,924 shares of company stock worth $114,786,399 in the last ninety days. Company insiders own 0.06% of the company’s stock.

Apple Stock Up 0.9 %

NASDAQ:AAPL opened at $233.40 on Tuesday. The firm’s 50 day simple moving average is $227.01 and its 200 day simple moving average is $211.05. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The company has a market cap of $3.58 trillion, a PE ratio of 36.30, a P/E/G ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same period last year, the company earned $1.26 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. On average, research analysts anticipate 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. Investors of record on Monday, August 12th were given 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 yield of 0.43%. Apple’s dividend payout ratio is presently 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.