Apple Inc. (NASDAQ:AAPL) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 6.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 94,942,731 shares of the iPhone maker’s stock after purchasing an additional 5,893,741 shares during the period. Apple accounts for approximately 4.2% of Charles Schwab Investment Management Inc.’s investment portfolio, making the stock its biggest position. Charles Schwab Investment Management Inc. owned approximately 0.63% of Apple worth $22,121,656,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bull Oak Capital LLC raised its stake in Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after buying an additional 111 shares during the last quarter. Hershey Financial Advisers LLC acquired a new stake in Apple during the 2nd quarter worth about $42,000. Christopher J. Hasenberg Inc raised its position 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 worth $69,000 after acquiring an additional 144 shares in the last quarter. ARK Investment Management LLC acquired a new position in shares of Apple in the 3rd quarter valued at about $110,000. Finally, Cordant Inc. lifted 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 during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of research analyst reports. Monness Crespi & Hardt lifted their target price on Apple to $245.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. UBS Group reaffirmed a “neutral” rating and set a $236.00 price objective on shares of Apple in a research report on Monday, December 2nd. Raymond James boosted their target price on shares of Apple to $250.00 and gave the company a “buy” rating in a research report on Monday, January 20th. Loop Capital cut shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 price target for the company. in a report on Tuesday, January 21st. Finally, Oppenheimer lowered shares of Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.05.

Insider Activity at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were 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 of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. The trade was 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.

Apple Stock Performance

Shares of AAPL stock opened at $237.62 on Friday. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The firm’s 50-day simple moving average is $241.37 and its two-hundred day simple moving average is $230.81. The firm has a market cap of $3.57 trillion, a price-to-earnings ratio of 39.08, a P/E/G ratio of 2.19 and a beta of 1.20. 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 (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. As a group, equities analysts forecast that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 13th. Investors of record on Monday, February 10th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.42%. Apple’s dividend payout ratio (DPR) 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.