Apple Inc. (NASDAQ:AAPL) is Prospect Financial Services LLC’s 2nd Largest Position

Prospect Financial Services LLC increased its position in Apple Inc. (NASDAQ:AAPL) by 3.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,524 shares of the iPhone maker’s stock after buying an additional 1,685 shares during the quarter. Apple accounts for approximately 7.9% of Prospect Financial Services LLC’s holdings, making the stock its 2nd biggest holding. Prospect Financial Services LLC’s holdings in Apple were worth $12,704,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AAPL. Hershey Financial Advisers LLC purchased a new stake in Apple in the second quarter worth $42,000. Christopher J. Hasenberg Inc boosted its stake in shares of Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares in the last quarter. Hoese & Co LLP increased its position in shares of Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after buying an additional 57 shares during the period. Sage Financial Group Inc. purchased a new stake in Apple in the second quarter worth about $206,000. Finally, Benchmark Wealth Management LLC bought a new stake in Apple during the 2nd quarter valued at approximately $208,000. 60.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of research analyst reports. KeyCorp cut Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price for the company. in a research note on Friday, October 25th. Evercore ISI reiterated a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Thursday, September 26th. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Oppenheimer reiterated a “buy” rating and set a $250.00 target price on shares of Apple in a report on Tuesday, October 1st. Finally, Monness Crespi & Hardt restated a “buy” rating and issued a $245.00 price target on shares of Apple in a research note on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $235.68.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 4,130 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 408,170 shares of company stock valued at $92,007,745 over the last three months. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Up 0.0 %

NASDAQ:AAPL opened at $243.04 on Friday. The firm has a market capitalization of $3.67 trillion, a price-to-earnings ratio of 39.97, a price-to-earnings-growth ratio of 2.38 and a beta of 1.23. 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 business has a fifty day moving average price of $230.23 and a 200-day moving average price of $221.05. Apple Inc. has a one year low of $164.07 and a one year high of $244.54.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.46 earnings per share. Sell-side analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.41%. Apple’s payout ratio is currently 16.45%.

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.