Studio Investment Management LLC Has $8.70 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Studio Investment Management LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 0.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,351 shares of the iPhone maker’s stock after selling 55 shares during the period. Apple comprises 1.8% of Studio Investment Management LLC’s investment portfolio, making the stock its 11th biggest holding. Studio Investment Management LLC’s holdings in Apple were worth $8,703,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AAPL. Bull Oak Capital LLC boosted its holdings in Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after purchasing an additional 111 shares during the last quarter. Hershey Financial Advisers LLC bought a new position in shares of Apple during the 2nd quarter worth approximately $42,000. Christopher J. Hasenberg Inc boosted its stake in shares of Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after buying an additional 144 shares during the last quarter. ARK Investment Management LLC bought a new position in shares of Apple in the third quarter valued at approximately $110,000. Finally, Cordant Inc. increased its position in shares of 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 acquiring an additional 173 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Stock Down 0.7 %

Shares of NASDAQ:AAPL opened at $236.00 on Friday. The firm has a market capitalization of $3.55 trillion, a PE ratio of 38.82, a price-to-earnings-growth ratio of 2.39 and a beta of 1.20. 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 52-week low of $164.07 and a 52-week high of $260.10. The firm has a fifty day moving average of $241.56 and a 200 day moving average of $230.86.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. As a group, research analysts anticipate that Apple Inc. will post 7.34 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 13th. Shareholders of record on Monday, February 10th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Monday, February 10th. Apple’s dividend payout ratio (DPR) is presently 15.87%.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction 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 transaction, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $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. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Jefferies Financial Group downgraded Apple from a “hold” rating to an “underperform” rating and reduced their price objective for the company from $211.84 to $200.75 in a research note on Thursday. Rosenblatt Securities restated a “buy” rating and set a $262.00 price objective on shares of Apple in a report on Monday, January 27th. Maxim Group boosted their target price on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Barclays raised their price target on shares of Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a research note on Friday. Finally, Monness Crespi & Hardt upped their price objective on Apple to $245.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average target price of $242.52.

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.