Telos Capital Management Inc. boosted its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 0.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 233,615 shares of the iPhone maker’s stock after buying an additional 1,678 shares during the quarter. Apple makes up about 5.7% of Telos Capital Management Inc.’s portfolio, making the stock its biggest position. Telos Capital Management Inc.’s holdings in Apple were worth $54,432,000 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 AAPL. China Universal Asset Management Co. Ltd. increased its position in shares of Apple by 127.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock worth $12,943,000 after purchasing an additional 42,282 shares during the last quarter. Westwood Holdings Group Inc. increased its position in shares of Apple by 2.4% during the 1st quarter. Westwood Holdings Group Inc. now owns 761,774 shares of the iPhone maker’s stock worth $130,629,000 after purchasing an additional 17,519 shares during the last quarter. Lavaca Capital LLC increased its position in shares of Apple by 171.4% during the 1st quarter. Lavaca Capital LLC now owns 42,930 shares of the iPhone maker’s stock worth $7,362,000 after purchasing an additional 27,111 shares during the last quarter. Caxton Associates LP increased its position in shares of Apple by 97.3% during the 1st quarter. Caxton Associates LP now owns 157,833 shares of the iPhone maker’s stock worth $27,065,000 after purchasing an additional 77,819 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC increased its position in shares of Apple by 1.2% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 822,174 shares of the iPhone maker’s stock worth $140,986,000 after purchasing an additional 10,031 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.
Insider Transactions at Apple
In other Apple news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the transaction, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This represents a 35.49 % 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 company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 408,170 shares of company stock valued at $92,007,745. Corporate insiders own 0.06% of the company’s stock.
Apple Price Performance
Apple (NASDAQ:AAPL – Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. 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 previous year, the firm earned $1.46 EPS. Apple’s revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal 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 issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.39%. Apple’s dividend payout ratio (DPR) is currently 16.45%.
Analyst Upgrades and Downgrades
Several research firms have weighed in on AAPL. Moffett Nathanson lowered their price target on Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 19th. Needham & Company LLC reiterated a “buy” rating and set a $260.00 target price on shares of Apple in a research note on Tuesday, December 10th. Barclays reduced their target price on Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, November 1st. KeyCorp downgraded Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price for the company. in a research note on Friday, October 25th. Finally, Bank of America lifted their target price on Apple to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have given 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 a consensus target price of $236.78.
Check Out Our Latest Stock Report on AAPL
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.
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