Sunpointe LLC Has $4.29 Million Position in Apple Inc. (NASDAQ:AAPL)

Sunpointe LLC raised its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,038 shares of the iPhone maker’s stock after acquiring an additional 200 shares during the period. Apple comprises approximately 4.8% of Sunpointe LLC’s portfolio, making the stock its 2nd biggest holding. Sunpointe LLC’s holdings in Apple were worth $4,294,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in AAPL. Wyrmwood Management LLC increased its stake in Apple by 69.0% in the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after purchasing an additional 69 shares during the period. A.P. Gilfoyle & Co. L.P. purchased a new position in shares of Apple in the fourth quarter worth $39,000. Gilfoyle & Co LLC raised its holdings in Apple by 118.0% during the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after buying an additional 118 shares during the last quarter. University of Texas Texas AM Investment Managment Co. boosted its position in Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after buying an additional 368 shares during the period. Finally, Clarity Asset Management Inc. bought a new stake in Apple in the 4th quarter worth $85,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the sale, the director now directly owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total transaction of $951,809.60. Following the transaction, the insider now directly owns 29,278 shares in the company, valued at $5,574,531.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the sale, the director now owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 192,355 shares of company stock valued at $34,771,329. 0.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AAPL shares. DA Davidson raised shares of Apple from a “neutral” rating to a “buy” rating and upped their price objective for the company from $200.00 to $230.00 in a research note on Tuesday, June 11th. JPMorgan Chase & Co. increased their price objective on Apple from $225.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. Melius Research lifted their price objective on Apple from $227.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Needham & Company LLC restated a “buy” rating and set a $220.00 target price on shares of Apple in a report on Monday. Finally, Canaccord Genuity Group lifted their price target on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a report on Saturday, May 4th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $215.71.

Apple Stock Performance

Shares of AAPL stock opened at $220.27 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. The company has a 50 day moving average price of $193.14 and a 200-day moving average price of $185.44. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $220.38. The firm has a market capitalization of $3.38 trillion, a PE ratio of 34.26, a P/E/G ratio of 2.56 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The business had revenue of $90.75 billion during the quarter, compared to the consensus estimate of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.52 EPS. As a group, equities research analysts expect that Apple Inc. will post 6.59 earnings per share for the current year.

Apple announced that its board has initiated a stock buyback program on Thursday, May 2nd that permits the company to repurchase $110.00 billion in shares. This repurchase authorization permits the iPhone maker to purchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Friday, May 10th. This is a boost from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio is 15.55%.

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.