Mill Capital Management LLC Grows Position in Apple Inc. (NASDAQ:AAPL)

Mill Capital Management LLC grew its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 656,438 shares of the iPhone maker’s stock after purchasing an additional 1,615 shares during the quarter. Apple comprises approximately 9.9% of Mill Capital Management LLC’s investment portfolio, making the stock its biggest position. Mill Capital Management LLC’s holdings in Apple were worth $89,748,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Qube Research & Technologies Ltd grew its position in Apple by 145.8% during the fourth quarter. Qube Research & Technologies Ltd now owns 643,206 shares of the iPhone maker’s stock worth $114,214,000 after buying an additional 381,507 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Apple by 24.2% in the 4th quarter. Teacher Retirement System of Texas now owns 7,217,055 shares of the iPhone maker’s stock valued at $1,281,532,000 after purchasing an additional 1,408,326 shares in the last quarter. OPSEU Pension Plan Trust Fund boosted its holdings in shares of Apple by 9.3% in the 4th quarter. OPSEU Pension Plan Trust Fund now owns 15,985 shares of the iPhone maker’s stock valued at $2,909,000 after purchasing an additional 1,362 shares in the last quarter. Fosun International Ltd boosted its holdings in shares of Apple by 9.1% in the 4th quarter. Fosun International Ltd now owns 59,101 shares of the iPhone maker’s stock valued at $10,520,000 after purchasing an additional 4,905 shares in the last quarter. Finally, Smith Salley & Associates boosted its holdings in shares of Apple by 3.3% in the 4th quarter. Smith Salley & Associates now owns 393,025 shares of the iPhone maker’s stock valued at $69,789,000 after purchasing an additional 12,669 shares in the last quarter. Institutional investors and hedge funds own 57.72% of the company’s stock.

Apple Stock Down 1.5 %

Shares of AAPL traded down $2.31 during trading hours on Friday, hitting $150.43. The stock had a trading volume of 95,682,813 shares, compared to its average volume of 88,646,039. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. The firm has a 50 day simple moving average of $160.31 and a 200-day simple moving average of $155.83. The firm has a market capitalization of $2.42 trillion, a P/E ratio of 24.78, a price-to-earnings-growth ratio of 1.99 and a beta of 1.23. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last issued its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.14 by $0.06. The company had revenue of $82.96 billion during the quarter, compared to the consensus estimate of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the business posted $1.30 EPS. Sell-side analysts predict that Apple Inc. will post 6.1 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. Apple’s dividend payout ratio (DPR) is currently 15.18%.

Analysts Set New Price Targets

A number of brokerages have weighed in on AAPL. Oppenheimer reaffirmed an “outperform” rating and issued a $190.00 target price on shares of Apple in a report on Wednesday, June 8th. Itau BBA Securities initiated coverage on Apple in a research note on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price target for the company. Wedbush increased their price target on Apple from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, August 17th. Fundamental Research set a $177.07 price target on Apple and gave the company a “buy” rating in a research note on Thursday, August 4th. Finally, Barclays set a $169.00 price target on Apple in a research note on Wednesday, September 14th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average target price of $181.68.

Insider Buying and Selling at Apple

In other Apple news, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total value of $16,923,788.25. Following the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the sale, the senior vice president now directly owns 427,334 shares in the company, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Apple Profile

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Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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