Apple Inc. (NASDAQ:AAPL) is First Long Island Investors LLC’s 9th Largest Position

First Long Island Investors LLC grew its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 91.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 163,068 shares of the iPhone maker’s stock after buying an additional 77,914 shares during the quarter. Apple accounts for about 3.0% of First Long Island Investors LLC’s investment portfolio, making the stock its 9th largest holding. First Long Island Investors LLC’s holdings in Apple were worth $37,995,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC raised its position in shares of Apple by 20,372.7% during the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after acquiring an additional 93,886,664 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Apple by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock valued at $11,160,183,000 after acquiring an additional 2,785,807 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Apple by 6.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock valued at $10,909,457,000 after acquiring an additional 3,245,281 shares in the last quarter. American Century Companies Inc. increased its position in Apple by 3.2% in the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock worth $7,291,583,000 after buying an additional 1,065,759 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Apple by 1.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 34,486,195 shares of the iPhone maker’s stock worth $8,035,283,000 after buying an additional 432,140 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Down 0.1 %

NASDAQ:AAPL opened at $223.66 on Friday. The firm has a market capitalization of $3.36 trillion, a price-to-earnings ratio of 36.79, a PEG ratio of 2.18 and a beta of 1.20. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The business’s fifty day moving average price is $241.07 and its 200 day moving average price is $230.77.

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. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same period in the prior year, the firm posted $1.46 EPS. The business’s revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is currently 16.45%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Rosenblatt Securities increased their target price on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. decreased their target price on shares of Apple from $265.00 to $260.00 and set an “overweight” rating for the company in a research report on Tuesday. Raymond James boosted their price target on shares of Apple to $250.00 and gave the stock a “buy” rating in a research report on Monday. Sanford C. Bernstein increased their price objective on shares of Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, Citigroup boosted their target price on Apple to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $238.14.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total value 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 approximately $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

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.