Two Point Capital Management Inc. Buys 505 Shares of Apple Inc. (NASDAQ:AAPL)

Two Point Capital Management Inc. grew its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 76,625 shares of the iPhone maker’s stock after buying an additional 505 shares during the period. Apple accounts for approximately 6.5% of Two Point Capital Management Inc.’s holdings, making the stock its 3rd biggest holding. Two Point Capital Management Inc.’s holdings in Apple were worth $17,854,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AAPL. Bull Oak Capital LLC lifted its holdings in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after buying an additional 111 shares in the last quarter. Hershey Financial Advisers LLC bought a new stake in shares of Apple in the 2nd quarter worth about $42,000. Christopher J. Hasenberg Inc raised its stake in shares of Apple by 88.9% in 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. Cordant Inc. raised its stake in shares of Apple by 34.3% in the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after purchasing an additional 173 shares in the last quarter. Finally, EMC Capital Management grew its stake in Apple by 7.3% in the third quarter. EMC Capital Management now owns 892 shares of the iPhone maker’s stock worth $201,000 after purchasing an additional 61 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. New Street Research restated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research report on Wednesday, September 25th. Sanford C. Bernstein raised their price target on shares of Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. UBS Group reiterated a “neutral” rating and set a $236.00 price objective on shares of Apple in a research report on Monday, December 2nd. Jefferies Financial Group cut Apple from a “buy” rating to a “hold” rating and raised their target price for the company from $205.00 to $212.92 in a research report on Monday, October 7th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $273.00 price target on shares of Apple in a research report on Friday, December 13th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $239.85.

Apple Trading Down 2.4 %

AAPL stock opened at $236.85 on Friday. 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 Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The company’s 50-day simple moving average is $240.18 and its 200 day simple moving average is $229.95. The company has a market capitalization of $3.58 trillion, a PE ratio of 38.96, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20.

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, beating 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 business had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same period last year, the firm posted $1.46 earnings per share. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.42%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Apple 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.