Ieq Capital LLC Raises Stock Position in Apple Inc. (NASDAQ:AAPL)

Ieq Capital LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 4.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,675,713 shares of the iPhone maker’s stock after buying an additional 70,266 shares during the period. Apple comprises about 4.7% of Ieq Capital LLC’s holdings, making the stock its 3rd largest position. Ieq Capital LLC’s holdings in Apple were worth $352,939,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Fidelis Capital Partners LLC lifted its position in shares of Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after buying an additional 31,278 shares in the last quarter. Access Investment Management LLC purchased a new stake in shares of Apple during the first quarter valued at approximately $140,000. Hoese & Co LLP lifted its holdings in Apple by 6.7% during 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 stake in Apple during the second quarter worth $206,000. Finally, Benchmark Wealth Management LLC purchased a new position in Apple in the second quarter worth $208,000. Institutional investors own 60.41% of the company’s stock.

Apple Stock Performance

NASDAQ AAPL opened at $227.48 on Friday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. The company has a fifty day moving average of $226.91 and a 200-day moving average of $213.51. The company has a market capitalization of $3.44 trillion, a P/E ratio of 37.41, a P/E/G ratio of 2.18 and a beta of 1.24. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm 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 was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 earnings per share. As a group, equities research analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date is Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,469,275. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,469,275. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the sale, the chief operating officer now owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 412,746 shares of company stock worth $93,021,362 over the last ninety days. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AAPL. Raymond James raised their target price on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Citigroup boosted their target price on shares of Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Evercore ISI reissued a “buy” rating and set a $250.00 target price on shares of Apple in a research report on Thursday, September 26th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average 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.