26,144 Shares in Apple Inc. (NASDAQ:AAPL) Acquired by Neo Ivy Capital Management

Neo Ivy Capital Management acquired a new stake in shares of Apple Inc. (NASDAQ:AAPL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 26,144 shares of the iPhone maker’s stock, valued at approximately $5,506,000. Apple comprises about 1.1% of Neo Ivy Capital Management’s portfolio, making the stock its 15th largest position.

Several other large investors have also modified their holdings of the company. Foresight Capital Management Advisors Inc. increased its holdings in Apple by 0.3% during the 2nd quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock valued at $4,003,000 after purchasing an additional 55 shares during the period. Altus Wealth Management LLC boosted its position in shares of Apple by 0.6% during the second quarter. Altus Wealth Management LLC now owns 9,508 shares of the iPhone maker’s stock valued at $2,002,000 after purchasing an additional 55 shares in the last quarter. Hoese & Co LLP grew its stake in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the period. Stableford Capital II LLC raised its holdings in Apple by 0.3% in the first quarter. Stableford Capital II LLC now owns 17,156 shares of the iPhone maker’s stock worth $2,942,000 after purchasing an additional 59 shares in the last quarter. Finally, Whitcomb & Hess Inc. lifted its position in Apple by 1.7% during the second quarter. Whitcomb & Hess Inc. now owns 3,540 shares of the iPhone maker’s stock valued at $746,000 after buying an additional 59 shares during the period. 60.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of recent research reports. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $265.00 target price on shares of Apple in a research report on Tuesday, September 10th. Rosenblatt Securities restated a “buy” rating and issued a $261.00 price objective on shares of Apple in a report on Tuesday, September 10th. Piper Sandler reiterated a “neutral” rating and set a $225.00 target price on shares of Apple in a report on Tuesday, September 10th. Loop Capital raised Apple from a “hold” rating to a “buy” rating and boosted their price target for the stock from $170.00 to $300.00 in a research report on Monday, July 15th. Finally, Monness Crespi & Hardt reaffirmed a “buy” rating and set a $245.00 price objective on shares of Apple in a research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average target price of $239.17.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the transaction, the insider now owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The disclosure for this sale can be found here. Insiders have sold 113,884 shares of company stock valued at $23,723,887 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $228.20 on Friday. The firm has a market cap of $3.50 trillion, a price-to-earnings ratio of 35.49, a P/E/G ratio of 2.62 and a beta of 1.24. The firm has a fifty day moving average price of $222.41 and a 200 day moving average price of $199.99. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The firm had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.26 earnings per share. As a group, sell-side analysts expect that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s payout ratio is 15.55%.

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.