Tranquility Partners LLC Has $8.72 Million Stake in Apple Inc. $AAPL

Tranquility Partners LLC grew its position in Apple Inc. (NASDAQ:AAPL) by 0.5% during the second quarter, Holdings Channel reports. The institutional investor owned 42,510 shares of the iPhone maker’s stock after acquiring an additional 226 shares during the quarter. Apple comprises 3.1% of Tranquility Partners LLC’s investment portfolio, making the stock its 3rd largest holding. Tranquility Partners LLC’s holdings in Apple were worth $8,722,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Ryan Investment Management Inc. purchased a new stake in shares of Apple during the 2nd quarter valued at $31,000. ROSS JOHNSON & Associates LLC increased its position in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after buying an additional 180 shares in the last quarter. Elite Financial Inc. purchased a new stake in Apple in the first quarter valued at about $58,000. LSV Asset Management acquired a new stake in Apple in the fourth quarter worth about $65,000. Finally, HFM Investment Advisors LLC purchased a new stake in shares of Apple during the first quarter worth about $99,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

AAPL has been the subject of several research analyst reports. DZ Bank raised shares of Apple from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a research report on Tuesday. Tigress Financial upped their price target on shares of Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 17th. Barclays raised their price target on shares of Apple from $180.00 to $230.00 and gave the stock an “underweight” rating in a report on Friday, October 31st. Robert W. Baird set a $300.00 price objective on shares of Apple in a report on Friday, October 31st. Finally, Morgan Stanley upped their target price on Apple from $298.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Three analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $278.22.

Apple Stock Down 0.5%

NASDAQ:AAPL opened at $268.47 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The company’s fifty day moving average price is $252.25 and its 200-day moving average price is $224.54. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $277.32. The firm has a market capitalization of $3.98 trillion, a P/E ratio of 40.74, a PEG ratio of 2.62 and a beta of 1.08.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, beating the consensus estimate of $1.74 by $0.11. The company had revenue of $102.47 billion for the quarter, compared to analyst estimates of $101.65 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.64 earnings per share. As a group, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Monday, November 10th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, November 10th. Apple’s dividend payout ratio (DPR) is 13.92%.

Insider Buying and Selling

In other news, CFO Kevan Parekh sold 4,199 shares of the firm’s stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the sale, the chief financial officer owned 8,765 shares of the company’s stock, valued at $2,168,373.35. This trade represents a 32.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 129,963 shares of Apple 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 of the company’s stock, valued at approximately $842,412,558.95. This trade represents a 3.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 224,300 shares of company stock valued at $57,586,933 in the last three months. 0.06% of the stock is currently owned by insiders.

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.