Marsico Capital Management LLC Buys 465,216 Shares of Apple Inc. (NASDAQ:AAPL)

Marsico Capital Management LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 63.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,201,151 shares of the iPhone maker’s stock after acquiring an additional 465,216 shares during the quarter. Apple comprises about 7.6% of Marsico Capital Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Marsico Capital Management LLC’s holdings in Apple were worth $252,986,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Blair William & Co. IL boosted its stake in Apple by 5.1% in the 2nd quarter. Blair William & Co. IL now owns 6,407,746 shares of the iPhone maker’s stock worth $1,349,600,000 after purchasing an additional 310,626 shares during the period. O Brien Greene & Co. Inc boosted its stake in Apple by 3.8% in the 2nd quarter. O Brien Greene & Co. Inc now owns 62,154 shares of the iPhone maker’s stock worth $13,091,000 after purchasing an additional 2,289 shares during the period. Elkhorn Partners Limited Partnership boosted its stake in Apple by 0.7% in the 2nd quarter. Elkhorn Partners Limited Partnership now owns 13,455 shares of the iPhone maker’s stock worth $2,834,000 after purchasing an additional 100 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in Apple by 11.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 1,566,922 shares of the iPhone maker’s stock worth $328,385,000 after purchasing an additional 154,791 shares during the period. Finally, Tredje AP fonden boosted its stake in Apple by 5.0% in the 2nd quarter. Tredje AP fonden now owns 2,793,425 shares of the iPhone maker’s stock worth $588,351,000 after purchasing an additional 134,100 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $223.45 on Wednesday. The stock has a market cap of $3.40 trillion, a P/E ratio of 36.75, a price-to-earnings-growth ratio of 2.39 and a beta of 1.24. The firm’s fifty day simple moving average is $226.98 and its 200 day simple moving average is $213.44. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.

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

Apple Announces Dividend

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

Insider Transactions at Apple

In other news, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the transaction, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $24,416,137.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Apple news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the sale, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 417,924 shares of company stock valued at $94,142,399 in the last quarter. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

AAPL has been the subject of a number of research reports. Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and lifted their target price for the company from $205.00 to $212.92 in a research note on Monday, October 7th. New Street Research reissued a “neutral” rating and set a $225.00 target price on shares of Apple in a research note on Wednesday, September 25th. Bank of America reissued a “buy” rating and set a $256.00 target price on shares of Apple in a research note on Thursday, October 3rd. Piper Sandler restated a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. Finally, Robert W. Baird raised their price target on shares of Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Two analysts have rated the stock with a sell rating, twelve have issued 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 presently has a consensus rating of “Moderate Buy” and an average price target of $235.51.

Apple Company 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.