Quest Investment Management LLC Has $64.98 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Quest Investment Management LLC grew its holdings in Apple Inc. (NASDAQ:AAPL) by 31.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 308,533 shares of the iPhone maker’s stock after purchasing an additional 74,304 shares during the period. Apple comprises approximately 7.2% of Quest Investment Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Quest Investment Management LLC’s holdings in Apple were worth $64,983,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Frank Rimerman Advisors LLC raised its holdings in Apple by 363.0% during the second quarter. Frank Rimerman Advisors LLC now owns 352,061 shares of the iPhone maker’s stock worth $74,151,000 after acquiring an additional 276,020 shares in the last quarter. Kowal Investment Group LLC boosted its holdings in shares of Apple by 1.4% in the 2nd quarter. Kowal Investment Group LLC now owns 47,464 shares of the iPhone maker’s stock valued at $9,997,000 after buying an additional 648 shares during the last quarter. Lavaca Capital LLC grew its stake in shares of Apple by 1.1% in the second quarter. Lavaca Capital LLC now owns 43,413 shares of the iPhone maker’s stock valued at $9,144,000 after buying an additional 483 shares in the last quarter. Connecticut Wealth Management LLC increased its holdings in Apple by 0.3% during the second quarter. Connecticut Wealth Management LLC now owns 110,175 shares of the iPhone maker’s stock worth $23,205,000 after buying an additional 366 shares during the last quarter. Finally, Symmetry Investments LP increased its holdings in Apple by 324.0% during the second quarter. Symmetry Investments LP now owns 100,695 shares of the iPhone maker’s stock worth $21,208,000 after buying an additional 76,945 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Down 0.1 %

Shares of AAPL opened at $226.96 on Friday. The firm has a 50 day simple moving average of $226.82 and a two-hundred day simple moving average of $214.03. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. 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 $3.43 trillion, a P/E ratio of 37.33, a P/E/G ratio of 2.18 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the previous year, the firm earned $1.46 EPS. Apple’s revenue was up 6.1% on a year-over-year basis. Research analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The business 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 $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Insider Activity

In other news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This 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 accessible through the SEC website. In other news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the transaction, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at $42,309,126.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 412,746 shares of company stock worth $93,021,362. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AAPL. Raymond James lifted their price objective on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. 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. KeyCorp cut Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective for the company. in a research report on Friday, October 25th. New Street Research restated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, September 25th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 price target on shares of Apple in a report on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $235.51.

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.