BayBridge Capital Group LLC Has $1.06 Million Stake in Apple Inc. (NASDAQ:AAPL)

BayBridge Capital Group LLC lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 138.3% during the third quarter, HoldingsChannel reports. The firm owned 4,563 shares of the iPhone maker’s stock after acquiring an additional 2,648 shares during the quarter. BayBridge Capital Group LLC’s holdings in Apple were worth $1,063,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Bull Oak Capital LLC lifted its holdings in shares of Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares in the last quarter. Hershey Financial Advisers LLC bought a new stake in Apple in the 2nd quarter valued at approximately $42,000. Christopher J. Hasenberg Inc boosted its position in Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares during the last quarter. Cordant Inc. grew its stake in shares of Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after acquiring an additional 173 shares in the last quarter. Finally, Sage Financial Group Inc. acquired a new stake in shares of Apple in the second quarter valued at approximately $206,000. Institutional investors own 67.73% of the company’s stock.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares of the company’s stock, valued at $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 508,170 shares of company stock valued at $117,004,745. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Up 1.1 %

Shares of Apple stock opened at $258.20 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $258.21. The company has a market capitalization of $3.90 trillion, a price-to-earnings ratio of 42.47, a PEG ratio of 2.41 and a beta of 1.23. The firm’s 50-day moving average price is $235.45 and its two-hundred day moving average price is $226.34.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping 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 business had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same quarter last year, the business posted $1.46 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Apple in a research report on Wednesday, October 9th. Oppenheimer restated a “buy” rating and issued a $250.00 price objective on shares of Apple in a report on Tuesday, October 1st. Rosenblatt Securities upped their target price on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Melius Research reiterated a “buy” rating and set a $265.00 price objective on shares of Apple in a research note on Tuesday, August 27th. Finally, Evercore ISI reiterated a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $236.78.

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.