Oppenheimer Asset Management Inc. Purchases 84,337 Shares of Apple Inc. (NASDAQ:AAPL)

Oppenheimer Asset Management Inc. boosted its position in Apple Inc. (NASDAQ:AAPL) by 23.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 442,572 shares of the iPhone maker’s stock after acquiring an additional 84,337 shares during the quarter. Apple accounts for 1.2% of Oppenheimer Asset Management Inc.’s investment portfolio, making the stock its 10th biggest position. Oppenheimer Asset Management Inc.’s holdings in Apple were worth $93,215,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AAPL. Fidelis Capital Partners LLC raised its position 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 purchasing an additional 31,278 shares during the period. Access Investment Management LLC purchased a new position in Apple in the first quarter valued at about $140,000. Hoese & Co LLP raised its position in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 57 shares during the period. Sage Financial Group Inc. purchased a new position in Apple in the second quarter valued at about $206,000. Finally, Benchmark Wealth Management LLC purchased a new position in Apple in the second quarter valued at about $208,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of analyst reports. UBS Group reaffirmed a “hold” rating and set a $236.00 target price on shares of Apple in a research report on Wednesday, October 16th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $265.00 target price on shares of Apple in a research report on Tuesday, September 10th. Piper Sandler Companies reaffirmed a “neutral” rating and set a $225.00 target price (up from $190.00) on shares of Apple in a research report on Tuesday, July 9th. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price objective on shares of Apple in a report on Friday. Finally, Jefferies Financial Group lowered Apple from a “buy” rating to a “hold” rating and boosted their price objective for the company from $205.00 to $212.92 in a report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $236.23.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction 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 sale, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. 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. In other news, CFO Luca Maestri sold 59,305 shares of the stock in a transaction on 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 completion of the sale, the chief financial officer now owns 107,788 shares in the company, valued at approximately $24,416,137.76. 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, 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 sale, the senior vice president now owns 191,543 shares of the company’s stock, 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. In the last ninety days, insiders sold 517,924 shares of company stock valued at $114,786,399. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $222.91 on Friday. The stock has a fifty day moving average price of $227.18 and a two-hundred day moving average price of $212.03. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The firm has a market cap of $3.39 trillion, a P/E ratio of 33.93, a PEG ratio of 2.45 and a beta of 1.24. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.15. The firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the company posted $1.46 EPS. Research analysts forecast that Apple Inc. will post 6.6 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Monday, November 11th. Apple’s payout ratio is currently 15.22%.

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.