Park Place Capital Corp Grows Holdings in Apple Inc. (NASDAQ:AAPL)

Park Place Capital Corp grew its position in shares of Apple Inc. (NASDAQ:AAPL) by 15.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,476 shares of the iPhone maker’s stock after buying an additional 3,827 shares during the period. Apple accounts for 1.9% of Park Place Capital Corp’s investment portfolio, making the stock its 12th largest position. Park Place Capital Corp’s holdings in Apple were worth $6,635,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Hershey Financial Advisers LLC bought a new position in Apple in the second quarter valued at $42,000. Hoese & Co LLP grew its stake in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the period. Sage Financial Group Inc. bought a new stake in shares of Apple in the 2nd quarter worth approximately $206,000. Benchmark Wealth Management LLC bought a new stake in Apple during the 2nd quarter valued at about $208,000. Finally, SMH Capital Advisors Inc. bought a new stake in Apple in the 2nd quarter worth about $209,000. Institutional investors own 60.41% of the company’s stock.

Apple Trading Up 0.6 %

NASDAQ:AAPL opened at $229.87 on Monday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The stock has a market cap of $3.47 trillion, a price-to-earnings ratio of 37.81, a PEG ratio of 2.24 and a beta of 1.24. The business has a fifty day moving average of $227.73 and a 200-day moving average of $218.30. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last announced 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 firm had revenue of $94.93 billion during 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 business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company posted $1.46 EPS. Equities analysts predict that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

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

Insiders Place Their Bets

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was 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 owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 6.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the sale, the senior vice president now owns 187,043 shares of the company’s stock, valued at $42,309,126.60. The trade was a 24.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 408,170 shares of company stock worth $92,007,745 in the last ninety days. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Tigress Financial boosted their price objective on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. Citigroup boosted their price objective on shares of Apple to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. TD Cowen upped their price objective on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price target on shares of Apple in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $265.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $235.25.

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.