Welch Capital Partners LLC NY Acquires 2,800 Shares of Apple Inc. (NASDAQ:AAPL)

Welch Capital Partners LLC NY raised its position in shares of Apple Inc. (NASDAQ:AAPL) by 94.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,763 shares of the iPhone maker’s stock after purchasing an additional 2,800 shares during the quarter. Apple accounts for approximately 0.3% of Welch Capital Partners LLC NY’s holdings, making the stock its 14th biggest position. Welch Capital Partners LLC NY’s holdings in Apple were worth $1,214,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AAPL. Cherrydale Wealth Management LLC lifted its holdings in Apple by 7.5% in the 1st quarter. Cherrydale Wealth Management LLC now owns 9,685 shares of the iPhone maker’s stock worth $1,661,000 after purchasing an additional 675 shares in the last quarter. FCF Advisors LLC grew its position in Apple by 8.6% in the 1st quarter. FCF Advisors LLC now owns 151,994 shares of the iPhone maker’s stock valued at $26,064,000 after acquiring an additional 12,071 shares during the last quarter. Lbmc Investment Advisors LLC grew its position in shares of Apple by 1.7% during the 1st quarter. Lbmc Investment Advisors LLC now owns 50,997 shares of the iPhone maker’s stock worth $8,745,000 after buying an additional 837 shares in the last quarter. Westend Capital Management LLC bought a new position in shares of Apple during the 1st quarter worth $222,000. Finally, Steph & Co. grew its position in shares of Apple by 3.8% during the 1st quarter. Steph & Co. now owns 12,645 shares of the iPhone maker’s stock worth $2,168,000 after buying an additional 458 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Loop Capital upped their price objective on Apple to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $261.00 price target on shares of Apple in a research note on Tuesday, September 10th. Barclays reiterated an “underweight” rating and issued a $186.00 price target on shares of Apple in a research note on Tuesday, October 1st. Citigroup increased their price target on Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, New Street Research restated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research note on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.91.

Insider Activity

In other news, insider Chris Kondo sold 5,178 shares of Apple 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 of the company’s stock, valued at approximately $5,223,062.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Chris Kondo sold 5,178 shares of Apple 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 of the company’s stock, valued at approximately $5,223,062.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of Apple 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 completion of the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was 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 currently owned by corporate insiders.

Apple Price Performance

NASDAQ:AAPL opened at $231.41 on Friday. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. 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 company has a market capitalization of $3.55 trillion, a P/E ratio of 35.99, a P/E/G ratio of 2.40 and a beta of 1.24. The stock’s fifty day moving average is $226.86 and its two-hundred day moving average is $210.34.

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

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. Apple’s 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.