Delta Investment Management LLC Has $13.28 Million Stake in Apple Inc. (NASDAQ:AAPL)

Delta Investment Management LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 0.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,068 shares of the iPhone maker’s stock after selling 143 shares during the quarter. Apple makes up approximately 2.9% of Delta Investment Management LLC’s investment portfolio, making the stock its 8th largest position. Delta Investment Management LLC’s holdings in Apple were worth $13,283,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Access Investment Management LLC acquired a new stake in Apple during the 1st quarter valued at approximately $140,000. Hoese & Co LLP increased its position in Apple by 6.7% during the 2nd 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. acquired a new stake in Apple during the 2nd quarter valued at approximately $206,000. Benchmark Wealth Management LLC acquired a new stake in Apple during the 2nd quarter valued at approximately $208,000. Finally, SMH Capital Advisors Inc. acquired a new stake in Apple during the 2nd quarter valued at approximately $209,000. Institutional investors own 60.41% of the company’s stock.

Insider Activity

In related news, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the transaction, the chief operating officer now owns 489,944 shares in the company, valued at $111,148,695.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Chris Kondo sold 8,706 shares of the business’s 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 completion of the transaction, the insider now owns 15,419 shares in the company, valued at $3,469,275. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the sale, the chief operating officer now owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 412,746 shares of company stock valued at $93,021,362. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AAPL shares. StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 price objective on shares of Apple in a research report on Tuesday, September 10th. Cfra raised their price objective on shares of Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Tigress Financial raised their price objective 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. Finally, Monness Crespi & Hardt reissued a “buy” rating and issued a $245.00 price target on shares of Apple in a research report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $235.51.

Apple Price Performance

Shares of AAPL opened at $224.23 on Wednesday. The business’s 50 day moving average is $226.72 and its 200 day moving average is $215.06. 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 12-month low of $164.07 and a 12-month high of $237.49. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 EPS. Research analysts expect that Apple Inc. will post 7.43 earnings per share 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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Friday, November 8th. Apple’s dividend payout ratio is currently 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.