Elkhorn Partners Limited Partnership Purchases 100 Shares of Apple Inc. (NASDAQ:AAPL)

Elkhorn Partners Limited Partnership increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,455 shares of the iPhone maker’s stock after purchasing an additional 100 shares during the quarter. Apple accounts for about 2.0% of Elkhorn Partners Limited Partnership’s investment portfolio, making the stock its 6th largest holding. Elkhorn Partners Limited Partnership’s holdings in Apple were worth $2,834,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its stake in shares of Apple by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock worth $11,160,183,000 after buying an additional 2,785,807 shares in the last quarter. Capital International Investors grew its holdings in Apple by 7.1% during the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after acquiring an additional 2,474,887 shares during the period. American Century Companies Inc. grew its holdings in Apple by 3.2% during the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock worth $7,291,583,000 after acquiring an additional 1,065,759 shares during the period. Jennison Associates LLC raised its position in Apple by 1.7% in the first quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock worth $5,061,296,000 after acquiring an additional 485,873 shares in the last quarter. Finally, Swedbank AB lifted its holdings in Apple by 13.4% in the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock valued at $4,214,222,000 after acquiring an additional 2,359,409 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Activity at Apple

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the transaction, the senior vice president now owns 187,043 shares in the company, valued at $42,309,126.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the company’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 sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 417,924 shares of company stock valued at $94,142,399. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of AAPL opened at $223.45 on Wednesday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The firm has a market cap of $3.40 trillion, a PE ratio of 36.75, a PEG ratio of 2.39 and a beta of 1.24. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The firm’s 50 day moving average price is $226.98 and its 200 day moving average price is $213.44.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same period in the prior year, the company posted $1.46 earnings per share. Apple’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, research analysts expect that Apple Inc. will post 7.45 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Friday, November 8th. Apple’s dividend payout ratio is 16.45%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AAPL. Robert W. Baird boosted their target price on shares of Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. KeyCorp cut Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a report on Friday, October 25th. Moffett Nathanson initiated coverage on Apple in a research report on Monday, August 19th. They set a “neutral” rating and a $211.00 price objective for the company. Piper Sandler restated a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, October 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 target price on shares of Apple in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $235.51.

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.