Oak Harvest Investment Services Grows Position in Apple Inc. (NASDAQ:AAPL)

Oak Harvest Investment Services boosted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 124,883 shares of the iPhone maker’s stock after buying an additional 3,727 shares during the quarter. Apple makes up approximately 4.5% of Oak Harvest Investment Services’ portfolio, making the stock its 3rd largest holding. Oak Harvest Investment Services’ holdings in Apple were worth $26,303,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in AAPL. Yeomans Consulting Group Inc. bought a new position in Apple during the fourth quarter worth about $1,713,000. Raleigh Capital Management Inc. lifted its stake in shares of Apple by 11.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock valued at $2,986,000 after buying an additional 1,643 shares in the last quarter. GLOBALT Investments LLC GA bought a new position in Apple in the 4th quarter worth approximately $38,406,000. Barden Capital Management Inc. grew its stake in Apple by 132.8% in the 4th quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock valued at $6,283,000 after buying an additional 18,615 shares in the last quarter. Finally, Sunpointe LLC bought a new stake in Apple during the 4th quarter valued at $4,782,000. Institutional investors own 60.41% of the company’s stock.

Apple Trading Down 0.3 %

Shares of AAPL stock opened at $228.20 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The business has a 50-day moving average of $222.41 and a 200 day moving average of $200.41. The stock has a market capitalization of $3.50 trillion, a PE ratio of 35.49, a P/E/G ratio of 2.62 and a beta of 1.24. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.23.

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

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given 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 was Monday, August 12th. Apple’s payout ratio is 15.55%.

Analysts Set New Price Targets

A number of research firms have recently commented on AAPL. The Goldman Sachs Group raised their price target on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. DA Davidson raised Apple from a “neutral” rating to a “buy” rating and lifted their target price for the company from $200.00 to $230.00 in a report on Tuesday, June 11th. Piper Sandler Companies reissued a “neutral” rating and issued a $225.00 price target (up from $190.00) on shares of Apple in a report on Tuesday, July 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price objective on shares of Apple in a research note on Thursday. Finally, Cfra upped their target price on shares of Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average price target of $239.17.

Insider Activity

In related news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction dated 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 sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were 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 SEC, which is available at the SEC website. Also, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,884 shares of company stock valued at $23,723,887. Insiders own 0.06% of the company’s stock.

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.