Sassicaia Capital Advisers LLC Has $19.49 Million Position in Apple Inc. (NASDAQ:AAPL)

Sassicaia Capital Advisers LLC grew its position in shares of Apple Inc. (NASDAQ:AAPL) by 1,991.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 83,640 shares of the iPhone maker’s stock after purchasing an additional 79,640 shares during the quarter. Apple comprises approximately 56.6% of Sassicaia Capital Advisers LLC’s investment portfolio, making the stock its largest position. Sassicaia Capital Advisers LLC’s holdings in Apple were worth $19,488,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. High Net Worth Advisory Group LLC grew its position 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 valued at $14,916,000 after purchasing an additional 1,066 shares during the period. Amara Financial LLC. acquired a new stake in Apple in the 3rd quarter valued at $288,000. Granite Investment Partners LLC grew its position in Apple by 2.7% in the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after purchasing an additional 7,606 shares during the period. Truist Financial Corp grew its position in Apple by 1.8% in the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after purchasing an additional 126,210 shares during the period. Finally, Sterling Investment Counsel LLC grew its position in Apple by 3.8% in the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after purchasing an additional 2,565 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Trading Down 2.4 %

Shares of AAPL opened at $227.63 on Monday. The business’s 50-day moving average price is $241.26 and its 200-day moving average price is $231.04. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $260.10. The stock has a market cap of $3.42 trillion, a PE ratio of 36.13, a P/E/G ratio of 2.32 and a beta of 1.20. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating 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%. On average, equities analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 13th. Stockholders of record on Monday, February 10th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Monday, February 10th. Apple’s payout ratio is 15.87%.

Analyst Upgrades and Downgrades

AAPL has been the subject of several research reports. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Apple in a research report on Friday, January 31st. Evercore ISI lifted their price objective on shares of Apple from $250.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Barclays lifted their price objective on shares of Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. TD Cowen reaffirmed a “buy” rating on shares of Apple in a report on Tuesday, January 28th. Finally, Bank of America lifted their price objective on shares of Apple from $253.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Four analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $242.52.

Insider Transactions at Apple

In related news, 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 transaction of $945,233.10. Following the completion of the transaction, the insider now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were 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 owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by 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.