Intellectus Partners LLC Has $5.86 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Intellectus Partners LLC raised its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 21.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,166 shares of the iPhone maker’s stock after purchasing an additional 4,470 shares during the period. Apple makes up about 1.5% of Intellectus Partners LLC’s investment portfolio, making the stock its 10th largest holding. Intellectus Partners LLC’s holdings in Apple were worth $5,864,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. 1620 Investment Advisors Inc. lifted its holdings in shares of Apple by 0.5% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock valued at $2,249,000 after acquiring an additional 45 shares during the last quarter. Carolina Wealth Advisors LLC raised its position in Apple by 1.3% during the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock valued at $813,000 after purchasing an additional 46 shares during the period. Verus Financial Partners Inc. lifted its stake in shares of Apple by 0.3% in the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after purchasing an additional 48 shares during the last quarter. Brown Financial Advisory increased its position in Apple by 3.8% during 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 last quarter. Finally, Core Wealth Management Inc. lifted its holdings in shares of Apple by 1.7% in the 2nd 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. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction on 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 sale, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated 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 of the company’s stock, valued at approximately $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 owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Monness Crespi & Hardt upped their price target on shares of Apple to $245.00 and gave the company a “buy” rating in a report on Wednesday. UBS Group reiterated a “neutral” rating and set a $236.00 target price on shares of Apple in a research report on Monday, December 2nd. Wedbush boosted their target price on shares of Apple from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, December 26th. Evercore ISI reaffirmed a “buy” rating and set a $250.00 target price on shares of Apple in a research report on Thursday, September 26th. Finally, Rosenblatt Securities increased their price objective on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Four analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $237.99.

Apple Trading Up 0.5 %

Shares of NASDAQ:AAPL opened at $223.83 on Thursday. The business has a 50-day moving average price of $241.09 and a 200-day moving average price of $230.82. The stock has a market cap of $3.37 trillion, a price-to-earnings ratio of 36.81, a PEG ratio of 2.25 and a beta of 1.20. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $94.52 billion. During the same period in the prior year, the firm earned $1.46 EPS. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities analysts predict that Apple Inc. will post 7.43 EPS for the current 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 paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. Apple’s payout ratio is 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.