Bowie Capital Management LLC Buys 7,007 Shares of Apple Inc. (NASDAQ:AAPL)

Bowie Capital Management LLC raised its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 192,126 shares of the iPhone maker’s stock after purchasing an additional 7,007 shares during the quarter. Apple accounts for approximately 2.3% of Bowie Capital Management LLC’s investment portfolio, making the stock its 19th largest holding. Bowie Capital Management LLC’s holdings in Apple were worth $44,765,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. High Net Worth Advisory Group LLC lifted its holdings in shares of Apple by 1.7% during the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after purchasing an additional 1,066 shares during the period. Amara Financial LLC. purchased a new stake in shares of Apple in the third quarter valued at approximately $288,000. Granite Investment Partners LLC increased its position in shares of Apple by 2.7% during the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after purchasing an additional 7,606 shares in the last quarter. Truist Financial Corp increased its position in shares of Apple by 1.8% during the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after purchasing an additional 126,210 shares in the last quarter. Finally, Sterling Investment Counsel LLC grew its holdings in Apple by 3.8% in the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after buying an additional 2,565 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Price Performance

NASDAQ AAPL opened at $228.01 on Tuesday. The firm has a market cap of $3.43 trillion, a P/E ratio of 36.19, a price-to-earnings-growth ratio of 2.36 and a beta of 1.20. The stock’s 50-day moving average is $241.68 and its two-hundred day moving average is $230.86. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, analysts anticipate that Apple Inc. will post 7.33 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 13th. Shareholders of record on Monday, February 10th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Monday, February 10th. Apple’s payout ratio is 15.87%.

Analysts Set New Price Targets

AAPL has been the subject of several analyst reports. Raymond James upped their target price on Apple to $250.00 and gave the company a “buy” rating in a report on Monday, January 20th. Loop Capital downgraded Apple from a “buy” rating to a “hold” rating and set a $230.00 price target on the stock. in a report on Tuesday, January 21st. JPMorgan Chase & Co. increased their price objective on Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Friday. Maxim Group increased their price objective on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a report on Friday, November 1st. Finally, Citigroup raised their price target on Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $242.52.

Insider Buying and Selling at Apple

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

Apple Company 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.