Panoramic Capital Partners LLC Boosts Stock Position in Apple Inc. $AAPL

Panoramic Capital Partners LLC grew its stake in Apple Inc. (NASDAQ:AAPL) by 3.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,839 shares of the iPhone maker’s stock after purchasing an additional 626 shares during the quarter. Apple makes up about 2.8% of Panoramic Capital Partners LLC’s holdings, making the stock its 8th largest position. Panoramic Capital Partners LLC’s holdings in Apple were worth $4,023,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Ryan Investment Management Inc. purchased a new stake in Apple in the second quarter worth $31,000. ROSS JOHNSON & Associates LLC increased its position in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after buying an additional 180 shares during the last quarter. LSV Asset Management purchased a new stake in Apple in the fourth quarter worth $65,000. Elite Financial Inc. purchased a new stake in Apple in the first quarter worth $58,000. Finally, HFM Investment Advisors LLC purchased a new stake in Apple in the first quarter worth $99,000. 67.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the sale, the senior vice president owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevan Parekh sold 4,199 shares of the business’s stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $247.39, for a total value of $1,038,790.61. Following the completion of the sale, the chief financial officer directly owned 8,765 shares of the company’s stock, valued at approximately $2,168,373.35. This trade represents a 32.39% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 259,121 shares of company stock worth $65,358,981. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AAPL. JPMorgan Chase & Co. lifted their price target on Apple from $255.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, September 19th. Moffett Nathanson upgraded Apple from a “sell” rating to a “neutral” rating and set a $225.00 price target for the company in a research report on Thursday, September 4th. The Goldman Sachs Group reiterated a “buy” rating and issued a $266.00 price target on shares of Apple in a research report on Tuesday, August 26th. Barclays lifted their price target on Apple from $173.00 to $180.00 and gave the company an “underweight” rating in a research report on Friday, August 1st. Finally, BMO Capital Markets reiterated a “buy” rating on shares of Apple in a research report on Wednesday, August 13th. Four analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average target price of $248.29.

Apple Trading Up 2.0%

Shares of AAPL stock opened at $252.29 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The business has a 50-day moving average price of $241.13 and a two-hundred day moving average price of $216.91. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The firm has a market cap of $3.74 trillion, a P/E ratio of 38.28, a price-to-earnings-growth ratio of 2.46 and a beta of 1.09.

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

Apple Announces Dividend

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

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.