Ted Buchan & Co Makes New Investment in Apple Inc. (NASDAQ:AAPL)

Ted Buchan & Co purchased a new stake in Apple Inc. (NASDAQ:AAPL) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,678 shares of the iPhone maker’s stock, valued at approximately $985,000.

A number of other hedge funds also recently bought and sold shares of AAPL. Hershey Financial Advisers LLC acquired a new position in Apple during the second quarter worth about $42,000. Access Investment Management LLC acquired a new position in shares of Apple during the 1st quarter worth approximately $140,000. Hoese & Co LLP grew its position in shares of Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 57 shares in the last quarter. Sage Financial Group Inc. acquired a new stake in shares of Apple in the second quarter valued at approximately $206,000. Finally, Benchmark Wealth Management LLC purchased a new position in Apple during the second quarter worth approximately $208,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Activity

In other news, 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 transaction, 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 6.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the sale, the chief operating officer now owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. This trade represents a 10.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 404,040 shares of company stock worth $91,062,512. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Down 1.4 %

Apple stock opened at $225.00 on Friday. The stock has a market cap of $3.40 trillion, a PE ratio of 37.01, a P/E/G ratio of 2.21 and a beta of 1.24. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The stock’s fifty day moving average is $227.04 and its two-hundred day moving average is $215.96. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion for 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 business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company earned $1.46 EPS. On average, sell-side analysts expect that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is 16.45%.

Analyst Ratings Changes

A number of brokerages have issued reports on AAPL. Bank of America reaffirmed a “buy” rating and issued a $256.00 target price on shares of Apple in a research note on Thursday, October 3rd. Barclays reduced their target price on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, November 1st. Jefferies Financial Group cut shares of Apple from a “buy” rating to a “hold” rating and increased their price target for the company from $205.00 to $212.92 in a research note on Monday, October 7th. Rosenblatt Securities lifted their price target on shares of Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, UBS Group lifted their target price on Apple to $236.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.