Kornitzer Capital Management Inc. KS Has $107.77 Million Stake in Apple Inc. (NASDAQ:AAPL)

Kornitzer Capital Management Inc. KS lifted its stake in Apple Inc. (NASDAQ:AAPL) by 0.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 511,668 shares of the iPhone maker’s stock after buying an additional 581 shares during the quarter. Apple comprises 2.0% of Kornitzer Capital Management Inc. KS’s portfolio, making the stock its 3rd biggest holding. Kornitzer Capital Management Inc. KS’s holdings in Apple were worth $107,768,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Access Investment Management LLC purchased a new stake in Apple in the 1st quarter worth $140,000. Hoese & Co LLP boosted its stake in shares of 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 acquiring an additional 57 shares during the period. Sage Financial Group Inc. bought a new position in shares of Apple in the second quarter worth about $206,000. Benchmark Wealth Management LLC purchased a new stake in shares of Apple during the second quarter worth about $208,000. Finally, Sequent Asset Management LLC bought a new stake in Apple during the 2nd quarter valued at approximately $214,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AAPL. Robert W. Baird increased their price objective on shares of Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. KeyCorp reiterated a “hold” rating and issued a $247.61 price target on shares of Apple in a report on Wednesday, August 28th. Monness Crespi & Hardt reissued a “buy” rating and set a $245.00 price objective on shares of Apple in a report on Monday, September 9th. Melius Research restated a “buy” rating and set a $265.00 price objective on shares of Apple in a research report on Tuesday, August 27th. Finally, New Street Research reiterated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $239.27.

Apple Stock Performance

AAPL stock opened at $235.00 on Monday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The firm has a market cap of $3.60 trillion, a price-to-earnings ratio of 36.55, a PEG ratio of 2.40 and a beta of 1.24. The business’s fifty day simple moving average is $225.78 and its two-hundred day simple moving average is $208.38. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.26 EPS. Analysts predict that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio is presently 15.55%.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Apple news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 517,924 shares of company stock worth $114,786,399. Company insiders own 0.06% of the company’s stock.

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.