Apple Inc. $AAPL is Klingman & Associates LLC’s 10th Largest Position

Klingman & Associates LLC raised its stake in Apple Inc. (NASDAQ:AAPL) by 2.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 259,702 shares of the iPhone maker’s stock after acquiring an additional 6,513 shares during the period. Apple accounts for approximately 2.9% of Klingman & Associates LLC’s portfolio, making the stock its 10th largest position. Klingman & Associates LLC’s holdings in Apple were worth $53,283,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ryan Investment Management Inc. purchased a new stake in Apple in the second quarter valued at approximately $31,000. ROSS JOHNSON & Associates LLC increased its holdings in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 180 shares during the period. Nexus Investment Management ULC raised its position in Apple by 333.3% in the 2nd quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock valued at $53,000 after purchasing an additional 200 shares during the last quarter. Elite Financial Inc. purchased a new stake in Apple in the 1st quarter valued at $58,000. Finally, LSV Asset Management purchased a new position in Apple during the 4th quarter worth $65,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 47,125 shares of the company’s stock in a transaction that occurred on 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 sale, the senior vice president owned 179,158 shares in the company, valued at $46,005,982.82. This represents a 20.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 129,963 shares of Apple stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total value 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 represents a 3.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 228,052 shares of company stock valued at $58,604,588 in the last 90 days. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AAPL. Citigroup reaffirmed a “buy” rating and issued a $315.00 target price (up from $245.00) on shares of Apple in a report on Friday, October 31st. Morgan Stanley upped their price objective on Apple from $298.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Wall Street Zen downgraded Apple from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of Apple in a report on Thursday, November 13th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a report on Friday, July 25th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $278.22.

Apple Trading Up 0.4%

NASDAQ:AAPL opened at $268.56 on Thursday. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $277.32. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a fifty day moving average price of $258.01 and a two-hundred day moving average price of $228.15. The stock has a market capitalization of $3.97 trillion, a price-to-earnings ratio of 40.75, a PEG ratio of 2.62 and a beta of 1.09.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, topping 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 business’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.64 EPS. As a group, sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 10th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, November 10th. Apple’s dividend payout ratio is presently 13.92%.

Apple 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.