First Long Island Investors LLC Buys 77,914 Shares of Apple Inc. (NASDAQ:AAPL)

First Long Island Investors LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 91.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 163,068 shares of the iPhone maker’s stock after acquiring an additional 77,914 shares during the period. Apple accounts for about 3.0% of First Long Island Investors LLC’s holdings, making the stock its 9th largest position. First Long Island Investors LLC’s holdings in Apple were worth $37,995,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Bull Oak Capital LLC boosted its stake in Apple by 252.3% during the 3rd 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 during the period. Hershey Financial Advisers LLC bought a new stake in Apple during the 2nd quarter valued at approximately $42,000. Christopher J. Hasenberg Inc boosted its stake in Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the period. ARK Investment Management LLC bought a new stake in shares of Apple in the 3rd quarter worth approximately $110,000. Finally, Cordant Inc. lifted its position in shares of Apple by 34.3% in the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after acquiring an additional 173 shares during the period. Institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on AAPL shares. Piper Sandler reiterated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research report on Wednesday, October 9th. Citigroup raised their price objective on Apple to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group downgraded Apple from a “hold” rating to an “underperform” rating and reduced their price objective for the stock from $211.84 to $200.75 in a research report on Tuesday. Rosenblatt Securities raised their price objective on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Loop Capital downgraded Apple from a “buy” rating to a “hold” rating and set a $230.00 price objective for the company. in a research report on Tuesday. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $238.14.

Apple Stock Down 0.1 %

NASDAQ AAPL opened at $223.66 on Friday. The stock has a fifty day moving average of $241.07 and a 200-day moving average of $230.77. The stock has a market capitalization of $3.36 trillion, a P/E ratio of 36.79, a price-to-earnings-growth ratio of 2.18 and a beta of 1.20. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

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

Apple Dividend Announcement

The company also recently announced 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 was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Insider Activity

In related news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. 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.