Invst LLC Has $11.70 Million Position in Apple Inc. (NASDAQ:AAPL)

Invst LLC increased its holdings in Apple Inc. (NASDAQ:AAPL) by 8.3% during the second quarter, HoldingsChannel reports. The fund owned 53,968 shares of the iPhone maker’s stock after acquiring an additional 4,154 shares during the quarter. Apple accounts for about 1.3% of Invst LLC’s investment portfolio, making the stock its 20th biggest holding. Invst LLC’s holdings in Apple were worth $11,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Granite Investment Partners LLC boosted its stake in Apple by 2.7% in the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after acquiring an additional 7,606 shares during the last quarter. Bellwether Advisors LLC boosted its position in Apple by 387.3% during the second quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock worth $5,128,000 after purchasing an additional 19,352 shares during the period. Gentry Private Wealth LLC bought a new stake in shares of Apple in the second quarter valued at approximately $876,000. Independent Advisor Alliance grew its stake in Apple by 0.9% in the 2nd quarter. Independent Advisor Alliance now owns 920,737 shares of the iPhone maker’s stock valued at $193,926,000 after buying an additional 8,028 shares in the last quarter. Finally, WT Asset Management Ltd bought a new stake in Apple during the 2nd quarter valued at $80,057,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Apple

In other news, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the transaction, the chief operating officer now owns 489,944 shares in the company, valued at $111,148,695.84. The trade was a 10.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the sale, the senior vice president now owns 187,043 shares of the company’s stock, valued at $42,309,126.60. The trade was a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 404,040 shares of company stock worth $91,062,512 over the last 90 days. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AAPL. Citigroup lifted their price target on Apple to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Morgan Stanley reiterated an “overweight” rating and set a $273.00 price target on shares of Apple in a research report on Tuesday, September 10th. Rosenblatt Securities boosted their price objective on shares of Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, November 1st. The Goldman Sachs Group increased their target price on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and boosted their price target for the company from $205.00 to $212.92 in a research report on Monday, October 7th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $235.51.

Apple Price Performance

AAPL stock opened at $225.00 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The firm’s 50-day moving average price is $226.96 and its two-hundred day moving average price is $215.60. The stock has a market capitalization of $3.40 trillion, a price-to-earnings ratio of 37.01, a PEG ratio of 2.21 and a beta of 1.24. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. Apple’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.46 EPS. As a group, equities analysts predict that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is currently 16.45%.

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.