Hanlon Investment Management Inc. Raises Position in Apple Inc. (NASDAQ:AAPL)

Hanlon Investment Management Inc. lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 29.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,721 shares of the iPhone maker’s stock after acquiring an additional 3,537 shares during the quarter. Apple accounts for about 1.0% of Hanlon Investment Management Inc.’s portfolio, making the stock its 19th largest position. Hanlon Investment Management Inc.’s holdings in Apple were worth $3,311,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Capital International Investors increased its position in shares of Apple by 7.1% in the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock valued at $6,369,852,000 after purchasing an additional 2,474,887 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Apple by 1.7% during the first quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock worth $5,061,296,000 after purchasing an additional 485,873 shares in the last quarter. Swedbank AB increased its holdings in Apple by 13.4% in the second quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock valued at $4,214,222,000 after buying an additional 2,359,409 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Apple by 16.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,993,042 shares of the iPhone maker’s stock valued at $3,085,427,000 after buying an additional 2,594,138 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Apple by 2.5% during the 1st quarter. Nordea Investment Management AB now owns 17,247,950 shares of the iPhone maker’s stock worth $2,951,297,000 after buying an additional 415,186 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the company’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 transaction, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 517,924 shares of company stock valued at $114,786,399. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of recent analyst reports. StockNews.com upgraded Apple from a “hold” rating to a “buy” rating in a report on Tuesday. Wedbush reiterated an “outperform” rating and issued a $285.00 price target on shares of Apple in a research note on Monday, September 9th. TD Cowen boosted their price objective on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Moffett Nathanson initiated coverage on shares of Apple in a research report on Monday, August 19th. They issued a “neutral” rating and a $211.00 target price on the stock. Finally, Evercore ISI reissued a “buy” rating and issued a $250.00 price target on shares of Apple in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $239.27.

Apple Stock Performance

NASDAQ:AAPL opened at $235.86 on Wednesday. The firm’s fifty day simple moving average is $226.46 and its 200-day simple moving average is $209.33. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The stock has a market cap of $3.62 trillion, a PE ratio of 36.68, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share 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 company had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. During the same period in the prior year, the business posted $1.26 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. Analysts expect that Apple Inc. will post 6.65 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. Investors of record on Monday, August 12th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.42%. Apple’s dividend payout ratio is presently 15.55%.

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.