Quantinno Capital Management LP Acquires 421,983 Shares of Apple Inc. (NASDAQ:AAPL)

Quantinno Capital Management LP boosted its stake in Apple Inc. (NASDAQ:AAPL) by 31.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,783,153 shares of the iPhone maker’s stock after acquiring an additional 421,983 shares during the period. Apple comprises approximately 5.4% of Quantinno Capital Management LP’s portfolio, making the stock its largest position. Quantinno Capital Management LP’s holdings in Apple were worth $415,475,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Bull Oak Capital LLC boosted its holdings 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 in the last quarter. Hershey Financial Advisers LLC acquired a new position in shares of Apple in the second quarter valued at approximately $42,000. Christopher J. Hasenberg Inc grew its position in shares of Apple by 88.9% in the third 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 during the period. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Apple in the third quarter worth approximately $77,000. Finally, ARK Investment Management LLC purchased a new position in shares of Apple in the 3rd quarter worth $110,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of recent research reports. StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Loop Capital downgraded shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 price target on the stock. in a research report on Tuesday, January 21st. Oppenheimer lowered Apple from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 29th. TD Cowen restated a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. Finally, Moffett Nathanson reiterated a “sell” rating and set a $188.00 price objective (down previously from $202.00) on shares of Apple in a research note on Tuesday, January 7th. Four analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $242.52.

Insider Activity at Apple

In other news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was 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 trade represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction on 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 sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Apple Stock Performance

NASDAQ:AAPL opened at $227.63 on Monday. The stock’s 50-day moving average is $241.26 and its 200-day moving average is $231.04. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The stock has a market cap of $3.42 trillion, a P/E ratio of 36.13, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20.

Apple (NASDAQ:AAPL) last issued its quarterly 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 net margin of 24.30% and a return on equity of 160.83%. Equities research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The business 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. The ex-dividend date is Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s payout ratio is presently 15.87%.

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.