MayTech Global Investments LLC Boosts Stake in Apple Inc. (NASDAQ:AAPL)

MayTech Global Investments LLC raised its position in Apple Inc. (NASDAQ:AAPL) by 13.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 194,132 shares of the iPhone maker’s stock after purchasing an additional 22,284 shares during the period. Apple accounts for 6.0% of MayTech Global Investments LLC’s investment portfolio, making the stock its 5th biggest position. MayTech Global Investments LLC’s holdings in Apple were worth $45,233,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC increased its position 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 worth $219,829,700,000 after purchasing an additional 93,886,664 shares during the last quarter. FMR LLC lifted its position in Apple by 5.3% during the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock valued at $84,779,231,000 after purchasing an additional 18,224,005 shares during the last quarter. Strategic Financial Concepts LLC grew its stake in Apple by 14,145.8% in 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. Charles Schwab Investment Management Inc. increased its holdings in shares of Apple by 6.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock worth $22,121,656,000 after buying an additional 5,893,741 shares during the last quarter. Finally, Pathway Financial Advisers LLC raised its position 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 buying an additional 5,566,250 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Performance

Apple stock opened at $232.47 on Thursday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The stock has a market cap of $3.49 trillion, a price-to-earnings ratio of 36.90, a PEG ratio of 2.36 and a beta of 1.20. The stock’s 50 day simple moving average is $241.54 and its two-hundred day simple moving average is $230.95. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. As a group, analysts expect that Apple Inc. will post 7.33 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 13th. Investors of record on Monday, February 10th will be paid a $0.25 dividend. The ex-dividend date is Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. Apple’s payout ratio is 15.87%.

Analyst Ratings Changes

AAPL has been the topic of a number of research analyst reports. Argus raised Apple to a “strong-buy” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. increased their price objective on Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Piper Sandler restated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research report on Wednesday, October 9th. Maxim Group lifted their price target on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Finally, Jefferies Financial Group cut shares of Apple from a “hold” rating to an “underperform” rating and cut their price objective for the company from $211.84 to $200.75 in a research note on Thursday, January 30th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $242.52.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents 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 corporate insiders.

Apple Company 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.