OV Management LLC Has $8.18 Million Stake in Apple Inc. (NASDAQ:AAPL)

OV Management LLC lifted its stake in Apple Inc. (NASDAQ:AAPL) by 1.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,826 shares of the iPhone maker’s stock after buying an additional 408 shares during the period. Apple comprises 5.7% of OV Management LLC’s portfolio, making the stock its 3rd biggest holding. OV Management LLC’s holdings in Apple were worth $8,178,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Access Investment Management LLC acquired a new stake in shares of Apple during the first quarter worth approximately $140,000. Hoese & Co LLP grew its stake in shares of Apple by 6.7% during 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 last quarter. Sage Financial Group Inc. bought a new stake in shares of Apple during the second quarter valued at approximately $206,000. Benchmark Wealth Management LLC bought a new stake in shares of Apple during the second quarter valued at approximately $208,000. Finally, Sequent Asset Management LLC bought a new stake in shares of Apple during the second quarter valued at approximately $214,000. Institutional investors own 60.41% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on AAPL shares. UBS Group reissued a “hold” rating and set a $236.00 price target on shares of Apple in a research report on Wednesday, October 16th. Wedbush reissued an “outperform” rating and set a $285.00 price target on shares of Apple in a research report on Monday, September 9th. TD Cowen lifted their price target on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Raymond James lifted their price target on shares of Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, Tigress Financial lifted their price target on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $236.23.

Apple Stock Performance

Apple stock opened at $222.91 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The company has a market cap of $3.39 trillion, a PE ratio of 33.93, a PEG ratio of 2.45 and a beta of 1.24. The company’s 50-day moving average is $227.18 and its two-hundred day moving average is $212.03.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.15. The business had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. Apple’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.46 EPS. Equities analysts anticipate that Apple Inc. will post 6.6 earnings per share for the current year.

Apple Announces Dividend

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

Insider Transactions at Apple

In related news, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the transaction, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $24,416,137.76. The trade was 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 through this link. In other Apple news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction dated 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 transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Luca Maestri sold 59,305 shares of Apple 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 completion of the transaction, 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 517,924 shares of company stock valued at $114,786,399. 0.06% of the stock is currently owned by corporate 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.