Summit Rock Advisors LP Grows Holdings in Apple Inc. (NASDAQ:AAPL)

Summit Rock Advisors LP increased its holdings in Apple Inc. (NASDAQ:AAPL) by 0.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 141,544 shares of the iPhone maker’s stock after purchasing an additional 107 shares during the quarter. Apple makes up 12.9% of Summit Rock Advisors LP’s investment portfolio, making the stock its 5th biggest holding. Summit Rock Advisors LP’s holdings in Apple were worth $32,980,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bull Oak Capital LLC grew its stake in shares of Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after buying an additional 111 shares during the period. Hershey Financial Advisers LLC bought a new stake in Apple in the 2nd quarter worth about $42,000. Christopher J. Hasenberg Inc lifted its holdings in Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares during the period. Cordant Inc. grew its position in Apple by 34.3% during the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after buying an additional 173 shares during the period. Finally, EMC Capital Management grew its holdings in Apple by 7.3% during the third quarter. EMC Capital Management now owns 892 shares of the iPhone maker’s stock valued at $201,000 after purchasing an additional 61 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AAPL has been the topic of a number of recent research reports. Loop Capital dropped their price target on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. KeyCorp cut Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a report on Friday, October 25th. Wedbush increased their price target on shares of Apple from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, December 26th. Maxim Group lifted their price objective on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, Oppenheimer reissued a “buy” rating and set a $250.00 price target on shares of Apple in a research note on Tuesday, October 1st. Three analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $239.85.

Insider Activity

In related news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction on 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 owns 15,419 shares of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

Apple stock opened at $236.85 on Friday. The company’s 50 day simple moving average is $240.18 and its 200-day simple moving average is $229.95. 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 Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. The company has a market capitalization of $3.58 trillion, a price-to-earnings ratio of 38.96, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) 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 company had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same period in the prior year, the firm earned $1.46 earnings per share. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities research analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.42%. Apple’s dividend payout ratio is currently 16.45%.

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.