GAMMA Investing LLC Increases Stock Position in Apple Inc. (NASDAQ:AAPL)

GAMMA Investing LLC grew its position in Apple Inc. (NASDAQ:AAPL) by 34.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 200,214 shares of the iPhone maker’s stock after acquiring an additional 51,842 shares during the period. Apple accounts for 4.6% of GAMMA Investing LLC’s portfolio, making the stock its largest holding. GAMMA Investing LLC’s holdings in Apple were worth $46,650,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AAPL. China Universal Asset Management Co. Ltd. increased its position in shares of Apple by 127.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock valued at $12,943,000 after buying an additional 42,282 shares in the last quarter. Fountainhead AM LLC lifted its position in shares of Apple by 5.9% in the first quarter. Fountainhead AM LLC now owns 51,041 shares of the iPhone maker’s stock worth $8,753,000 after purchasing an additional 2,829 shares in the last quarter. SWP Financial LLC boosted its stake in shares of Apple by 23.6% during the 1st quarter. SWP Financial LLC now owns 42,691 shares of the iPhone maker’s stock worth $7,321,000 after buying an additional 8,158 shares during the last quarter. Concord Wealth Partners grew its holdings in shares of Apple by 16.7% in the 1st quarter. Concord Wealth Partners now owns 71,927 shares of the iPhone maker’s stock valued at $12,334,000 after acquiring an additional 10,286 shares in the last quarter. Finally, Summit Place Financial Advisors LLC increased its position in shares of Apple by 9.0% during the 1st quarter. Summit Place Financial Advisors LLC now owns 34,856 shares of the iPhone maker’s stock worth $5,977,000 after purchasing an additional 2,867 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of research analyst reports. Evercore ISI restated a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Thursday, September 26th. KeyCorp lowered Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective on the stock. in a research note on Friday, October 25th. Piper Sandler reissued a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. Wedbush reissued an “outperform” rating and issued a $285.00 price target on shares of Apple in a research note on Monday, September 9th. Finally, Maxim Group boosted their price objective on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research note on Friday, November 1st. 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 given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $235.25.

Insider Buying and Selling at Apple

In related news, insider Chris Kondo sold 4,130 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock valued at $92,007,745 over the last quarter. 0.06% of the stock is currently owned by insiders.

Apple Price Performance

NASDAQ AAPL opened at $228.28 on Wednesday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The firm has a market capitalization of $3.45 trillion, a P/E ratio of 37.55, a P/E/G ratio of 2.20 and a beta of 1.24. 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 $227.34 and its two-hundred day simple moving average is $217.31.

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

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date was 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.