Invst LLC Has $11.70 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Invst LLC increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 8.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,968 shares of the iPhone maker’s stock after purchasing an additional 4,154 shares during the quarter. Apple makes up about 1.3% of Invst LLC’s investment portfolio, making the stock its 20th biggest holding. Invst LLC’s holdings in Apple were worth $11,698,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Swedbank AB acquired a new stake in Apple during the 1st quarter valued at $3,026,492,000. Strategic Financial Concepts LLC lifted its stake in shares of Apple by 14,145.8% during the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after buying an additional 7,558,826 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Apple by 158.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock worth $1,977,582,000 after buying an additional 7,067,379 shares during the period. Lazard Asset Management LLC grew its stake in Apple by 161.2% in the 1st quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock valued at $1,502,068,000 after buying an additional 5,405,542 shares during the last quarter. Finally, William Blair Investment Management LLC bought a new position in Apple in the 2nd quarter valued at about $834,368,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Timothy D. Cook sold 223,986 shares of the 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 transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction 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 completion of 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 trade represents a 35.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 404,040 shares of company stock valued at $91,062,512 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the topic of several research reports. Oppenheimer reaffirmed a “buy” rating and issued a $250.00 target price on shares of Apple in a research report on Tuesday, October 1st. Raymond James upped their price objective on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Robert W. Baird boosted their target price on shares of Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Wedbush reaffirmed an “outperform” rating and set a $285.00 price target on shares of Apple in a research report on Monday, September 9th. Finally, Melius Research reiterated a “buy” rating and issued a $265.00 price target on shares of Apple in a research note on Tuesday, August 27th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $235.51.

Apple Trading Down 1.4 %

AAPL opened at $225.00 on Friday. 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 fifty-two week low of $164.07 and a fifty-two week high of $237.49. The firm has a market capitalization of $3.40 trillion, a price-to-earnings ratio of 37.01, a PEG ratio of 2.21 and a beta of 1.24. The company’s 50 day moving average price is $226.96 and its two-hundred day moving average price is $215.60.

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

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s payout ratio is 16.45%.

Apple Company 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.