Apple Inc. (NASDAQ:AAPL) is Orleans Capital Management Corp LA’s Largest Position

Orleans Capital Management Corp LA trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 54,108 shares of the iPhone maker’s stock after selling 518 shares during the period. Apple accounts for 7.2% of Orleans Capital Management Corp LA’s investment portfolio, making the stock its biggest holding. Orleans Capital Management Corp LA’s holdings in Apple were worth $11,396,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in shares of Apple by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock worth $11,160,183,000 after purchasing an additional 2,785,807 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Apple by 6.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock valued at $10,909,457,000 after buying an additional 3,245,281 shares during the period. Capital International Investors lifted its position in Apple by 7.1% in the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after buying an additional 2,474,887 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Apple by 3.2% during the 2nd quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock valued at $7,291,583,000 after buying an additional 1,065,759 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of Apple by 1.7% during the 1st quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock valued at $5,061,296,000 after buying an additional 485,873 shares during the period. 60.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Apple

In other Apple news, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the transaction, the senior vice president now owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the transaction, the chief operating officer now owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. This represents a 10.87 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 404,040 shares of company stock worth $91,062,512. Insiders own 0.06% of the company’s stock.

Apple Trading Down 1.4 %

Shares of AAPL stock opened at $225.00 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The firm’s fifty day simple moving average is $227.04 and its 200 day simple moving average is $215.96. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The firm has a market capitalization of $3.40 trillion, a P/E ratio of 37.01, a price-to-earnings-growth ratio of 2.21 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. 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 prior year, the company posted $1.46 EPS. The business’s revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages recently issued reports on AAPL. Morgan Stanley reiterated an “overweight” rating and set a $273.00 price objective on shares of Apple in a report on Tuesday, September 10th. Jefferies Financial Group downgraded Apple from a “buy” rating to a “hold” rating and raised their price target for the stock from $205.00 to $212.92 in a research note on Monday, October 7th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $265.00 price target on shares of Apple in a report on Tuesday, September 10th. Evercore ISI restated a “buy” rating and issued a $250.00 price objective on shares of Apple in a report on Thursday, September 26th. Finally, Bank of America reaffirmed a “buy” rating and set a $256.00 price objective on shares of Apple in a research report on Thursday, October 3rd. Two 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.