Shulman DeMeo Asset Management LLC Has $16.47 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Shulman DeMeo Asset Management LLC raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,043 shares of the iPhone maker’s stock after buying an additional 88 shares during the period. Apple makes up 4.0% of Shulman DeMeo Asset Management LLC’s portfolio, making the stock its 3rd biggest position. Shulman DeMeo Asset Management LLC’s holdings in Apple were worth $16,466,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Dimensional Fund Advisors LP grew its holdings in Apple by 5.5% during 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 acquiring an additional 2,785,807 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Apple by 6.7% during 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 purchasing an additional 3,245,281 shares in the last quarter. Capital International Investors boosted its position in shares of Apple by 7.1% during the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock valued at $6,369,852,000 after purchasing an additional 2,474,887 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Apple by 3.2% in the 2nd quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock worth $7,291,583,000 after purchasing an additional 1,065,759 shares during the last quarter. Finally, Swedbank AB boosted its holdings in Apple by 13.4% during the second quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after buying an additional 2,359,409 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors.

Apple Stock Up 0.0 %

AAPL opened at $243.04 on Friday. The firm has a market cap of $3.67 trillion, a P/E ratio of 39.97, a price-to-earnings-growth ratio of 2.38 and a beta of 1.23. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The business has a 50 day moving average price of $230.23 and a 200 day moving average price of $221.05. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $244.54.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping 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 business had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same period in the previous year, the company earned $1.46 earnings per share. Apple’s revenue for the quarter was up 6.1% on a year-over-year basis. Research analysts forecast that Apple Inc. will post 7.43 EPS 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 0.41%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Analyst Upgrades and Downgrades

AAPL has been the topic of several research reports. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 target price on shares of Apple in a report on Monday, November 25th. Evercore ISI reissued a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Thursday, September 26th. New Street Research restated a “neutral” rating and set a $225.00 price objective on shares of Apple in a report on Wednesday, September 25th. Finally, Tigress Financial raised their target price 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. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $235.68.

Insider Transactions at Apple

In other Apple news, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the sale, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at $42,309,126.60. This represents a 24.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 408,170 shares of company stock worth $92,007,745. Company insiders own 0.06% of the company’s stock.

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.