Core Alternative Capital Has $30.68 Million Position in Apple Inc. (NASDAQ:AAPL)

Core Alternative Capital lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 7.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 145,652 shares of the iPhone maker’s stock after selling 12,272 shares during the period. Apple makes up 6.1% of Core Alternative Capital’s portfolio, making the stock its 2nd biggest position. Core Alternative Capital’s holdings in Apple were worth $30,677,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of AAPL. Access Investment Management LLC acquired a new position in Apple during the first quarter valued at approximately $140,000. Hoese & Co LLP raised its holdings in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the period. Sage Financial Group Inc. bought a new position in shares of Apple during the second quarter worth $206,000. Benchmark Wealth Management LLC acquired a new position in shares of Apple in the 2nd quarter valued at $208,000. Finally, SMH Capital Advisors Inc. bought a new stake in shares of Apple in the 2nd quarter valued at $209,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Apple Price Performance

Shares of AAPL opened at $225.00 on Friday. The company’s 50-day moving average is $226.96 and its 200-day moving average is $215.60. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market capitalization of $3.40 trillion, a PE ratio of 37.01, a PEG ratio of 2.21 and a beta of 1.24. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same period in the prior year, the firm earned $1.46 EPS. The business’s revenue was up 6.1% on a year-over-year basis. Equities analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is 16.45%.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the transaction, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. This trade represents a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 6.39 % 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 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Raymond James boosted their target price on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Jefferies Financial Group downgraded shares of Apple from a “buy” rating to a “hold” rating and increased their price objective for the stock from $205.00 to $212.92 in a research report on Monday, October 7th. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Melius Research reaffirmed a “buy” rating and issued a $265.00 target price on shares of Apple in a research note on Tuesday, August 27th. Finally, Rosenblatt Securities lifted their price target on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two investment 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.51.

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.