O ROURKE & COMPANY Inc Increases Position in Apple Inc. $AAPL

O ROURKE & COMPANY Inc increased its position in Apple Inc. (NASDAQ:AAPL) by 58.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 80,628 shares of the iPhone maker’s stock after buying an additional 29,715 shares during the period. Apple accounts for about 7.7% of O ROURKE & COMPANY Inc’s investment portfolio, making the stock its largest holding. O ROURKE & COMPANY Inc’s holdings in Apple were worth $16,542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in AAPL. Kingstone Capital Partners Texas LLC increased its holdings in shares of Apple by 573,627.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock worth $39,065,374,000 after purchasing an additional 205,656,808 shares during the period. Nuveen LLC bought a new position in shares of Apple during the 1st quarter worth about $17,472,482,000. GAMMA Investing LLC increased its holdings in shares of Apple by 25,934.1% during the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock worth $133,425,490,000 after purchasing an additional 59,835,676 shares during the period. Northern Trust Corp increased its holdings in shares of Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares during the period. Finally, Amundi boosted its position in shares of Apple by 27.4% during the 1st quarter. Amundi now owns 68,190,569 shares of the iPhone maker’s stock valued at $13,870,795,000 after acquiring an additional 14,651,321 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Activity at Apple

In other news, CEO Timothy D. Cook sold 129,963 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the transaction, the chief executive officer directly owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. This represents a 3.81% 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, SVP Deirdre O’brien sold 43,013 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the transaction, the senior vice president owned 136,687 shares in the company, valued at $35,181,866.93. The trade was a 23.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 259,121 shares of company stock valued at $65,358,981 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AAPL. Melius Research set a $290.00 target price on shares of Apple and gave the company a “buy” rating in a research report on Wednesday, September 10th. Raymond James Financial reiterated an “outperform” rating and set a $240.00 target price (up from $230.00) on shares of Apple in a research report on Friday, August 1st. CLSA upgraded shares of Apple to a “strong-buy” rating in a research report on Sunday, October 5th. JPMorgan Chase & Co. lifted their target price on shares of Apple from $255.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, September 19th. Finally, Phillip Securities lowered shares of Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 target price on the stock. in a research report on Thursday, September 11th. Four analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $248.29.

Apple Price Performance

Shares of Apple stock opened at $252.29 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $3.74 trillion, a price-to-earnings ratio of 38.28, a P/E/G ratio of 2.46 and a beta of 1.09. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The firm’s 50-day moving average price is $241.13 and its two-hundred day moving average price is $216.91.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.14. The firm had revenue of $94.04 billion for the quarter, compared to analysts’ expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.40 earnings per share. On average, equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple’s dividend payout ratio is presently 15.78%.

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.