Riverstone Advisors LLC Has $3.23 Million Stake in Apple Inc. (NASDAQ:AAPL)

Riverstone Advisors LLC lifted its holdings in Apple Inc. (NASDAQ:AAPL) by 2.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,316 shares of the iPhone maker’s stock after acquiring an additional 344 shares during the quarter. Apple makes up approximately 2.0% of Riverstone Advisors LLC’s holdings, making the stock its 12th largest holding. Riverstone Advisors LLC’s holdings in Apple were worth $3,226,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Christopher J. Hasenberg Inc acquired a new position in Apple during the 1st quarter worth $35,000. Fidelis Capital Partners LLC grew its holdings in Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after acquiring an additional 31,278 shares during the period. A.P. Gilfoyle & Co. L.P. bought a new stake in shares of Apple during the 4th quarter valued at $39,000. University of Texas Texas AM Investment Managment Co. lifted its stake in shares of Apple by 657.1% in the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after purchasing an additional 368 shares during the period. Finally, Clarity Asset Management Inc. bought a new position in shares of Apple in the 4th quarter worth $85,000. 60.41% of the stock is currently owned by institutional investors.

Apple Trading Down 0.3 %

Shares of Apple stock opened at $228.20 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The stock has a market cap of $3.50 trillion, a PE ratio of 35.49, a PEG ratio of 2.62 and a beta of 1.24. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.23. The firm has a 50-day moving average of $222.41 and a 200-day moving average of $199.99.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The firm had revenue of $85.78 billion for 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 company’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned $1.26 EPS. As a group, sell-side analysts forecast that Apple Inc. will post 6.7 EPS for the current year.

Apple Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Oppenheimer reiterated an “outperform” rating and issued a $250.00 target price on shares of Apple in a report on Tuesday, September 10th. Cfra upped their price target on shares of Apple from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Loop Capital upgraded shares of Apple from a “hold” rating to a “buy” rating and lifted their price objective for the company from $170.00 to $300.00 in a report on Monday, July 15th. Barclays lowered their target price on Apple from $187.00 to $186.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. Finally, UBS Group increased their price target on Apple from $190.00 to $236.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $239.17.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 100,000 shares of the company’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 transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Katherine L. Adams sold 100,000 shares of Apple 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 transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the sale, 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. Over the last 90 days, insiders sold 113,884 shares of company stock valued at $23,723,887. 0.06% of the stock is currently owned by corporate insiders.

Apple 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.