POM Investment Strategies LLC Grows Holdings in Apple Inc. (NASDAQ:AAPL)

POM Investment Strategies LLC raised its stake in Apple Inc. (NASDAQ:AAPL) by 6.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 9,829 shares of the iPhone maker’s stock after purchasing an additional 583 shares during the period. Apple accounts for approximately 1.7% of POM Investment Strategies LLC’s holdings, making the stock its 15th biggest holding. POM Investment Strategies LLC’s holdings in Apple were worth $2,070,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc acquired a new position in shares of Apple during the first quarter valued at $35,000. Fidelis Capital Partners LLC boosted its position in shares of Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after buying an additional 31,278 shares during the period. A.P. Gilfoyle & Co. L.P. acquired a new stake in Apple in the 4th quarter valued at approximately $39,000. University of Texas Texas AM Investment Managment Co. increased its holdings in shares of Apple by 657.1% during the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after purchasing an additional 368 shares during the period. Finally, Clarity Asset Management Inc. acquired a new stake in shares of Apple in the 4th quarter worth approximately $85,000. 60.41% of the stock is owned by institutional investors.

Insider Transactions at Apple

In other Apple news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the transaction, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,884 shares of company stock worth $23,723,887. 0.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on AAPL. Needham & Company LLC restated a “buy” rating and set a $260.00 price objective on shares of Apple in a research report on Thursday, September 19th. Piper Sandler Companies reissued a “neutral” rating and issued a $225.00 target price (up from $190.00) on shares of Apple in a research report on Tuesday, July 9th. Tigress Financial increased their price target on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 28th. Monness Crespi & Hardt reissued a “buy” rating and issued a $245.00 price target on shares of Apple in a research note on Monday, September 9th. Finally, New Street Research reaffirmed a “neutral” rating and set a $225.00 target price on shares of Apple in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $238.76.

Apple Price Performance

Shares of NASDAQ AAPL opened at $233.00 on Tuesday. The stock has a fifty day moving average of $222.37 and a 200-day moving average of $202.80. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The stock has a market cap of $3.57 trillion, a PE ratio of 36.24, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.06. The firm had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company posted $1.26 EPS. Equities research analysts anticipate that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio (DPR) is 15.55%.

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.