Alight Capital Management LP Purchases 120,143 Shares of Apple Inc. (NASDAQ:AAPL)

Alight Capital Management LP lifted its position in Apple Inc. (NASDAQ:AAPL) by 400.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,143 shares of the iPhone maker’s stock after purchasing an additional 120,143 shares during the quarter. Apple accounts for 7.7% of Alight Capital Management LP’s portfolio, making the stock its largest position. Alight Capital Management LP’s holdings in Apple were worth $31,623,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Azzad Asset Management Inc. ADV lifted its holdings in shares of Apple by 1.1% during the first quarter. Azzad Asset Management Inc. ADV now owns 174,052 shares of the iPhone maker’s stock valued at $29,846,000 after acquiring an additional 1,962 shares during the period. Graphene Investments SAS increased its position in shares of Apple by 11.4% during the 1st quarter. Graphene Investments SAS now owns 54,700 shares of the iPhone maker’s stock worth $9,380,000 after purchasing an additional 5,600 shares in the last quarter. KFG Wealth Management LLC boosted its position in Apple by 31.3% in the first quarter. KFG Wealth Management LLC now owns 23,944 shares of the iPhone maker’s stock valued at $4,106,000 after buying an additional 5,702 shares in the last quarter. Svenska Handelsbanken AB publ bought a new stake in Apple during the first quarter worth about $343,000. Finally, OMNI 360 Wealth Inc. increased its holdings in shares of Apple by 4.1% during the first quarter. OMNI 360 Wealth Inc. now owns 16,308 shares of the iPhone maker’s stock worth $2,796,000 after buying an additional 638 shares in the last quarter. 60.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AAPL has been the topic of several research analyst reports. StockNews.com cut Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. New Street Research reissued a “neutral” rating and set a $225.00 price objective on shares of Apple in a report on Wednesday, September 25th. Tigress Financial boosted their target price on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, August 28th. Barclays decreased their price target on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, November 1st. Finally, The Goldman Sachs Group upped their price objective on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Two equities research 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.51.

Insider Transactions at Apple

In other Apple news, CFO Luca Maestri sold 59,305 shares of the 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Apple news, CFO Luca Maestri sold 59,305 shares of the 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 sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 412,746 shares of company stock worth $93,021,362 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of AAPL opened at $224.23 on Wednesday. The stock has a fifty day simple moving average of $226.72 and a two-hundred day simple moving average of $215.06. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $3.39 trillion, a PE ratio of 36.88, a price-to-earnings-growth ratio of 2.22 and a beta of 1.24. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share 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 business had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same period in the prior year, the business posted $1.46 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. As a group, equities analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Friday, November 8th. Apple’s payout ratio is 16.45%.

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.