Running Point Capital Advisors LLC Acquires 1,570 Shares of Apple Inc. (NASDAQ:AAPL)

Running Point Capital Advisors LLC increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 11.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,646 shares of the iPhone maker’s stock after acquiring an additional 1,570 shares during the quarter. Apple comprises about 1.4% of Running Point Capital Advisors LLC’s investment portfolio, making the stock its 22nd largest holding. Running Point Capital Advisors LLC’s holdings in Apple were worth $3,645,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of AAPL. International Assets Investment Management LLC lifted its stake in Apple by 20,372.7% in the 3rd 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 purchasing an additional 93,886,664 shares during the last quarter. Strategic Financial Concepts LLC increased its holdings in shares of Apple by 14,145.8% during the second 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. Pathway Financial Advisers LLC boosted its holdings in shares of Apple by 22,870.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 5,590,588 shares of the iPhone maker’s stock valued at $1,302,607,000 after acquiring an additional 5,566,250 shares in the last quarter. William Blair Investment Management LLC bought a new stake in Apple during the 2nd quarter worth $834,368,000. Finally, National Pension Service increased its holdings in Apple by 14.0% in the 3rd quarter. National Pension Service now owns 27,882,996 shares of the iPhone maker’s stock worth $6,496,738,000 after purchasing an additional 3,416,922 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on AAPL shares. The Goldman Sachs Group cut their price target on Apple from $286.00 to $280.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Bank of America reissued a “buy” rating and set a $253.00 target price (down from $256.00) on shares of Apple in a report on Friday, January 24th. KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target for the company. in a research report on Friday, October 25th. Wedbush reiterated an “outperform” rating and set a $325.00 price target on shares of Apple in a report on Thursday, January 23rd. Finally, Morgan Stanley restated an “overweight” rating and set a $273.00 price target on shares of Apple in a report on Friday, December 13th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $238.05.

Apple Trading Down 0.7 %

Shares of AAPL stock opened at $237.62 on Friday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The company has a 50 day moving average of $241.37 and a 200-day moving average of $230.81. The firm has a market cap of $3.57 trillion, a P/E ratio of 39.08, a PEG ratio of 2.19 and a beta of 1.20.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. Sell-side analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 13th. Stockholders of record on Monday, February 10th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.42%. Apple’s payout ratio is 16.45%.

Insiders Place Their Bets

In other Apple news, 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 transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $3,528,946.53. This represents 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.

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.