Saxon Interests Inc. Has $10.01 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Saxon Interests Inc. increased its holdings in Apple Inc. (NASDAQ:AAPL) by 2.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 42,959 shares of the iPhone maker’s stock after buying an additional 1,042 shares during the period. Apple accounts for 4.6% of Saxon Interests Inc.’s investment portfolio, making the stock its 2nd biggest position. Saxon Interests Inc.’s holdings in Apple were worth $10,009,000 as of its most recent SEC filing.

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

Apple Stock Performance

Apple stock opened at $235.06 on Wednesday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49. The firm has a market cap of $3.55 trillion, a P/E ratio of 38.66, a P/E/G ratio of 2.25 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 has a 50-day moving average of $228.43 and a 200-day moving average of $219.01.

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

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is currently 16.45%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AAPL shares. Tigress Financial upped their price target on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. Citigroup upped their target price on Apple to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. New Street Research reiterated a “neutral” rating and set a $225.00 price target on shares of Apple in a research report on Wednesday, September 25th. Needham & Company LLC reissued a “buy” rating and set a $260.00 price objective on shares of Apple in a report on Friday, November 1st. Finally, StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $235.25.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now owns 187,043 shares in the company, valued at $42,309,126.60. This trade represents a 24.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is currently owned by corporate insiders.

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.