Apple Inc. (NASDAQ:AAPL) Stake Boosted by Joel Isaacson & Co. LLC

Joel Isaacson & Co. LLC raised its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 407,584 shares of the iPhone maker’s stock after buying an additional 14,118 shares during the quarter. Apple accounts for 4.5% of Joel Isaacson & Co. LLC’s portfolio, making the stock its 6th largest position. Joel Isaacson & Co. LLC’s holdings in Apple were worth $94,967,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Tarbox Family Office Inc. raised its stake in Apple by 7.8% during the 3rd quarter. Tarbox Family Office Inc. now owns 33,857 shares of the iPhone maker’s stock valued at $7,889,000 after purchasing an additional 2,457 shares during the period. BayBridge Capital Group LLC raised its position in Apple by 138.3% during the third quarter. BayBridge Capital Group LLC now owns 4,563 shares of the iPhone maker’s stock valued at $1,063,000 after buying an additional 2,648 shares during the period. Massachusetts Wealth Management lifted its stake in Apple by 4.1% in the 3rd quarter. Massachusetts Wealth Management now owns 23,327 shares of the iPhone maker’s stock worth $5,435,000 after acquiring an additional 909 shares in the last quarter. Hudock Inc. boosted its position in Apple by 3.0% during the 3rd quarter. Hudock Inc. now owns 35,382 shares of the iPhone maker’s stock worth $8,244,000 after acquiring an additional 1,025 shares during the period. Finally, Financial Management Network Inc. grew its stake in Apple by 3.2% during the 3rd quarter. Financial Management Network Inc. now owns 64,470 shares of the iPhone maker’s stock valued at $14,622,000 after acquiring an additional 1,978 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Price Performance

NASDAQ:AAPL opened at $258.20 on Wednesday. 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 stock has a market cap of $3.90 trillion, a P/E ratio of 42.47, a PEG ratio of 2.41 and a beta of 1.23. The company has a fifty day moving average price of $235.45 and a 200 day moving average price of $226.34. Apple Inc. has a one year low of $164.07 and a one year high of $258.21.

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

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is presently 16.45%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Citigroup increased their price target on shares of Apple to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Barclays decreased their target price on shares of Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, November 1st. Loop Capital dropped their price target on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. KeyCorp cut Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective for the company. in a research report on Friday, October 25th. Finally, Rosenblatt Securities upped their target price on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.78.

Insider Activity

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction 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 sale, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Luca Maestri sold 59,305 shares of the stock in a transaction on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the transaction, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This represents a 35.49 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 508,170 shares of company stock worth $117,004,745. Company insiders own 0.06% of the company’s stock.

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.