DT Investment Partners LLC Acquires 2,420 Shares of Apple Inc. (NASDAQ:AAPL)

DT Investment Partners LLC lifted its stake in Apple Inc. (NASDAQ:AAPL) by 4.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,630 shares of the iPhone maker’s stock after buying an additional 2,420 shares during the period. Apple comprises approximately 1.0% of DT Investment Partners LLC’s holdings, making the stock its 21st largest holding. DT Investment Partners LLC’s holdings in Apple were worth $12,496,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AAPL. International Assets Investment Management LLC increased its stake in shares of Apple by 20,372.7% in the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after buying an additional 93,886,664 shares in the last quarter. Strategic Financial Concepts LLC lifted its position in Apple by 14,145.8% during the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after buying an additional 7,558,826 shares in the last quarter. William Blair Investment Management LLC bought a new stake in Apple during the 2nd quarter worth about $834,368,000. Ameriprise Financial Inc. increased its position in Apple by 6.7% in 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 acquiring an additional 3,245,281 shares in the last quarter. Finally, Tairen Capital Ltd bought a new position in shares of Apple in the second quarter worth about $588,952,000. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Barclays decreased their price target on Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, November 1st. Citigroup boosted their price objective on Apple to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Bank of America raised their target price on shares of Apple to $256.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $265.00 price target on shares of Apple in a research note on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $236.78.

Apple Stock Up 1.9 %

Shares of NASDAQ AAPL opened at $254.49 on Monday. The stock has a market capitalization of $3.85 trillion, a price-to-earnings ratio of 41.86, a P/E/G ratio of 2.41 and a beta of 1.23. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $255.00. 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 50-day moving average price is $234.97 and its 200-day moving average price is $225.70.

Apple (NASDAQ:AAPL) last released 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 analyst estimates of $94.52 billion. During the same quarter last year, the business earned $1.46 EPS. The business’s revenue was up 6.1% on a year-over-year basis. On average, equities research analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.39%. Apple’s dividend payout ratio is currently 16.45%.

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $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 508,170 shares of company stock worth $117,004,745 over the last three months. 0.06% of the stock is owned by corporate insiders.

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.