Apple Inc. (NASDAQ:AAPL) is Reynders McVeigh Capital Management LLC’s 2nd Largest Position

Reynders McVeigh Capital Management LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 508,284 shares of the iPhone maker’s stock after purchasing an additional 8,013 shares during the quarter. Apple comprises approximately 6.3% of Reynders McVeigh Capital Management LLC’s holdings, making the stock its 2nd largest holding. Reynders McVeigh Capital Management LLC’s holdings in Apple were worth $118,430,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Bull Oak Capital LLC raised its position in shares of Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares in the last quarter. Hershey Financial Advisers LLC acquired a new stake in Apple in the second quarter worth $42,000. Christopher J. Hasenberg Inc increased its position in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after buying an additional 144 shares during the period. Teachers Insurance & Annuity Association of America bought a new position in shares of Apple in the third quarter worth $77,000. Finally, ARK Investment Management LLC bought a new position in shares of Apple in the third quarter worth $110,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Activity at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $945,233.10. Following the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Apple Trading Down 2.4 %

NASDAQ AAPL opened at $227.63 on Monday. The stock has a 50-day simple moving average of $241.26 and a 200 day simple moving average of $231.04. The company has a market capitalization of $3.42 trillion, a PE ratio of 36.13, a P/E/G ratio of 2.32 and a beta of 1.20. 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 12 month low of $164.07 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Research analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages recently weighed in on AAPL. Maxim Group raised their target price on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Jefferies Financial Group downgraded Apple from a “hold” rating to an “underperform” rating and reduced their price objective for the stock from $211.84 to $200.75 in a research note on Thursday, January 30th. Rosenblatt Securities reiterated a “buy” rating and set a $262.00 price target on shares of Apple in a report on Monday, January 27th. Sanford C. Bernstein raised their price objective on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $325.00 price target on shares of Apple in a research report on Thursday, January 23rd. Four analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $242.52.

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.