Apple Inc. (NASDAQ:AAPL) Shares Acquired by Encompass More Asset Management

Encompass More Asset Management raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 347.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,178 shares of the iPhone maker’s stock after purchasing an additional 14,113 shares during the period. Apple accounts for 1.6% of Encompass More Asset Management’s portfolio, making the stock its 15th largest position. Encompass More Asset Management’s holdings in Apple were worth $4,236,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. High Net Worth Advisory Group LLC boosted its holdings in Apple by 1.7% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after acquiring an additional 1,066 shares during the period. Amara Financial LLC. purchased a new position in shares of Apple during the 3rd quarter valued at approximately $288,000. Granite Investment Partners LLC grew its position in shares of Apple by 2.7% during the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after buying an additional 7,606 shares in the last quarter. Truist Financial Corp increased its stake in shares of Apple by 1.8% in the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after buying an additional 126,210 shares during the last quarter. Finally, Sterling Investment Counsel LLC raised its holdings in Apple by 3.8% in the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after acquiring an additional 2,565 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Argus raised Apple to a “strong-buy” rating in a report on Friday, January 31st. JPMorgan Chase & Co. increased their target price on shares of Apple from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Evercore ISI increased their target price on Apple from $250.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Apple in a research note on Friday, January 31st. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $242.52.

Insider Buying and Selling at Apple

In related news, insider Chris Kondo sold 4,130 shares of the firm’s 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 transaction, the insider now owns 15,419 shares in the company, 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 company’s stock in a transaction 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 sale, the chief operating officer now owns 389,944 shares of the company’s stock, 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. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Up 0.3 %

NASDAQ:AAPL opened at $233.22 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The business’s 50-day simple moving average is $241.49 and its 200-day simple moving average is $230.96. The stock has a market capitalization of $3.51 trillion, a PE ratio of 37.02, a price-to-earnings-growth ratio of 2.36 and a beta of 1.20.

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

Apple Dividend Announcement

The company also recently announced 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 yield of 0.43%. Apple’s dividend payout ratio (DPR) is currently 15.87%.

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.