Apple Inc. (NASDAQ:AAPL) is University of Texas Texas AM Investment Management Co.’s 3rd Largest Position

University of Texas Texas AM Investment Management Co. grew its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2,340.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 70,766 shares of the iPhone maker’s stock after acquiring an additional 67,866 shares during the period. Apple comprises about 2.9% of University of Texas Texas AM Investment Management Co.’s investment portfolio, making the stock its 3rd biggest holding. University of Texas Texas AM Investment Management Co.’s holdings in Apple were worth $14,905,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AAPL. Verus Financial Partners Inc. increased its position in Apple by 0.3% in the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after buying an additional 48 shares during the period. Brown Financial Advisory boosted its position in shares of Apple by 3.8% in the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after acquiring an additional 50 shares during the period. Core Wealth Management Inc. grew its stake in shares of Apple by 1.7% in the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after acquiring an additional 50 shares during the last quarter. Lowery Thomas LLC increased its position in Apple by 0.7% during the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after acquiring an additional 50 shares during the period. Finally, Klein Pavlis & Peasley Financial Inc. raised its stake in Apple by 1.1% during the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock valued at $949,000 after purchasing an additional 51 shares during the last quarter. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Apple news, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction 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 approximately $24,416,137.76. This trade represents 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 link. In related news, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was 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 in the company, valued at $111,148,695.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction on 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 412,746 shares of company stock valued at $93,021,362 over the last three months. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

AAPL opened at $224.23 on Tuesday. The stock has a market capitalization of $3.39 trillion, a P/E ratio of 36.88, a PEG ratio of 2.22 and a beta of 1.24. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The stock has a 50-day moving average price of $226.82 and a 200-day moving average price of $214.68.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. Apple’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.46 EPS. Equities analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Cfra increased their target price on shares of Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $245.00 target price on shares of Apple in a report on Monday, September 9th. Raymond James raised their price target on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Maxim Group boosted their target price on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Finally, Citigroup raised their price target on Apple to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.