Strategic Investment Solutions Inc. IL Takes Position in Apple Inc. (NASDAQ:AAPL)

Strategic Investment Solutions Inc. IL acquired a new stake in Apple Inc. (NASDAQ:AAPL) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 52,865 shares of the iPhone maker’s stock, valued at approximately $11,178,000. Apple comprises approximately 3.6% of Strategic Investment Solutions Inc. IL’s investment portfolio, making the stock its 7th biggest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Swedbank AB bought a new position in shares of Apple during the first quarter valued at about $3,026,492,000. Strategic Financial Concepts LLC grew its holdings in shares of Apple by 14,145.8% during the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after acquiring an additional 7,558,826 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Apple by 158.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after purchasing an additional 7,067,379 shares during the period. Lazard Asset Management LLC boosted its position in shares of Apple by 161.2% during the first quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock valued at $1,502,068,000 after purchasing an additional 5,405,542 shares in the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in Apple in the second quarter worth $834,368,000. Institutional investors own 60.41% of the company’s stock.

Insider Transactions at Apple

In related news, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the transaction, the senior vice president now owns 187,043 shares in the company, valued at approximately $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction on 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 404,040 shares of company stock valued at $91,062,512 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the subject of a number of analyst reports. Citigroup raised 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 reiterated a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Thursday, September 26th. Melius Research reissued a “buy” rating and set a $265.00 price target on shares of Apple in a research report on Tuesday, August 27th. Morgan Stanley reaffirmed an “overweight” rating and issued a $273.00 price objective on shares of Apple in a research report on Tuesday, September 10th. Finally, Rosenblatt Securities lifted their target price on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $235.51.

Apple Trading Down 1.4 %

Apple stock opened at $225.00 on Monday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The firm has a market capitalization of $3.40 trillion, a price-to-earnings ratio of 37.01, a P/E/G ratio of 2.20 and a beta of 1.24. The firm has a 50 day moving average of $227.04 and a 200 day moving average of $216.61. 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 (NASDAQ:AAPL) last announced 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. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, research analysts predict that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

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

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.