Alpha DNA Investment Management LLC reduced its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 11.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,596 shares of the iPhone maker’s stock after selling 1,877 shares during the period. Apple accounts for about 0.9% of Alpha DNA Investment Management LLC’s portfolio, making the stock its 9th largest holding. Alpha DNA Investment Management LLC’s holdings in Apple were worth $2,831,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Atlantic Private Wealth LLC bought a new position in shares of Apple in the 1st quarter valued at about $30,000. Cheyne Capital Management UK LLP grew its position in shares of Apple by 200.0% in the 3rd quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock valued at $212,000 after acquiring an additional 550 shares during the period. HBC Financial Services PLLC grew its position in shares of Apple by 21.7% in the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after acquiring an additional 80 shares during the period. Clear Perspectives Financial Planning LLC grew its position in shares of Apple by 27.3% in the 1st quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock valued at $172,000 after acquiring an additional 211 shares during the period. Finally, NNS Holding bought a new stake in shares of Apple during the 2nd quarter worth about $193,000. 58.51% of the stock is currently owned by institutional investors and hedge funds.
Apple Price Performance
Shares of NASDAQ:AAPL opened at $189.71 on Friday. The company has a market cap of $2.95 trillion, a price-to-earnings ratio of 31.00, a PEG ratio of 2.55 and a beta of 1.30. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.99 and a quick ratio of 0.94. The firm has a 50 day simple moving average of $176.68 and a 200 day simple moving average of $180.53. Apple Inc. has a one year low of $124.17 and a one year high of $198.23.
Apple (NASDAQ:AAPL – Get Free Report) last issued its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $1.46 EPS for the quarter, beating the consensus estimate of $1.39 by $0.07. The business had revenue of $89.50 billion during the quarter, compared to the consensus estimate of $89.34 billion. Apple had a net margin of 25.31% and a return on equity of 160.78%. The firm’s revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.29 EPS. Research analysts predict that Apple Inc. will post 6.56 earnings per share for the current fiscal year.
Apple Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, November 13th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Friday, November 10th. Apple’s payout ratio is 15.69%.
Insiders Place Their Bets
In other Apple news, CEO Timothy D. Cook sold 240,569 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $172.50, for a total value of $41,498,152.50. Following the completion of the sale, the chief executive officer now directly owns 3,280,053 shares in the company, valued at $565,809,142.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Apple news, insider Chris Kondo sold 4,806 shares of the firm’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $184.04, for a total value of $884,496.24. Following the transaction, the insider now directly owns 34,687 shares of the company’s stock, valued at $6,383,795.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy D. Cook sold 240,569 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $172.50, for a total transaction of $41,498,152.50. Following the completion of the transaction, the chief executive officer now directly owns 3,280,053 shares in the company, valued at $565,809,142.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 444,391 shares of company stock worth $77,370,046. 0.06% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several analysts recently commented on the stock. UBS Group reaffirmed a “neutral” rating and set a $190.00 target price on shares of Apple in a report on Wednesday, September 27th. Piper Sandler lifted their target price on shares of Apple from $180.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, July 31st. Raymond James lifted their target price on shares of Apple from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Tigress Financial lifted their target price on shares of Apple from $225.00 to $240.00 and gave the stock a “strong-buy” rating in a report on Thursday. Finally, Rosenblatt Securities reduced their target price on shares of Apple from $198.00 to $189.00 and set a “neutral” rating for the company in a report on Friday, November 3rd. Ten investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $198.25.
Check Out Our Latest Report on Apple
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.
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