Jaffetilchin Investment Partners LLC Has $85.82 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Jaffetilchin Investment Partners LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 22.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 368,336 shares of the iPhone maker’s stock after buying an additional 66,351 shares during the period. Apple comprises about 6.5% of Jaffetilchin Investment Partners LLC’s investment portfolio, making the stock its largest holding. Jaffetilchin Investment Partners LLC’s holdings in Apple were worth $85,822,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Core Wealth Partners LLC lifted its position in Apple by 3.8% during the 3rd quarter. Core Wealth Partners LLC now owns 67,870 shares of the iPhone maker’s stock worth $15,814,000 after buying an additional 2,493 shares in the last quarter. Jag Capital Management LLC raised its holdings in Apple by 15.8% during the third quarter. Jag Capital Management LLC now owns 228,659 shares of the iPhone maker’s stock worth $53,277,000 after acquiring an additional 31,175 shares in the last quarter. GDS Wealth Management boosted its position in Apple by 3.0% during the third quarter. GDS Wealth Management now owns 92,753 shares of the iPhone maker’s stock valued at $21,611,000 after purchasing an additional 2,728 shares during the last quarter. TRU Independence Asset Management 2 LLC bought a new position in Apple in the third quarter valued at approximately $1,985,000. Finally, Catalytic Wealth RIA LLC increased its position in shares of Apple by 10.0% during the 3rd quarter. Catalytic Wealth RIA LLC now owns 116,813 shares of the iPhone maker’s stock worth $27,217,000 after purchasing an additional 10,601 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $229.98 on Friday. Apple Inc. has a one year low of $164.07 and a one year high of $260.10. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The company has a market cap of $3.48 trillion, a price-to-earnings ratio of 37.83, a PEG ratio of 2.32 and a beta of 1.20. The firm has a 50 day simple moving average of $241.01 and a 200 day simple moving average of $230.65.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. Apple’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.46 EPS. Research analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company 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. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Insider Activity

In related news, 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 sale, the insider now directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Loop Capital lowered their target price on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Oppenheimer reiterated a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. Evercore ISI reissued a “buy” rating and set a $250.00 price target on shares of Apple in a research report on Thursday, September 26th. New Street Research reiterated a “neutral” rating and set a $225.00 target price on shares of Apple in a research note on Wednesday, September 25th. Finally, Piper Sandler restated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. Three research 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 assigned a strong buy rating to the company. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average target price of $239.85.

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.