Del Sette Capital Management LLC Boosts Stake in Apple Inc. (NASDAQ:AAPL)

Del Sette Capital Management LLC increased its stake in Apple Inc. (NASDAQ:AAPL) by 207.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,860 shares of the iPhone maker’s stock after purchasing an additional 12,047 shares during the quarter. Apple makes up approximately 3.1% of Del Sette Capital Management LLC’s investment portfolio, making the stock its 13th biggest position. Del Sette Capital Management LLC’s holdings in Apple were worth $3,762,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Fidelis Capital Partners LLC lifted its holdings in Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after purchasing an additional 31,278 shares in the last quarter. Access Investment Management LLC purchased a new position in Apple during the first quarter valued at approximately $140,000. Hoese & Co LLP lifted its holdings in Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 57 shares in the last quarter. Sage Financial Group Inc. purchased a new position in Apple during the second quarter valued at approximately $206,000. Finally, Benchmark Wealth Management LLC purchased a new position in Apple during the second quarter valued at approximately $208,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Up 1.2 %

NASDAQ:AAPL opened at $235.00 on Friday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The company has a market cap of $3.60 trillion, a price-to-earnings ratio of 36.55, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. The stock has a fifty day simple moving average of $225.78 and a 200-day simple moving average of $208.11. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. During the same period last year, the company earned $1.26 earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Analysts anticipate that Apple Inc. will post 6.65 EPS for the current year.

Apple Announces Dividend

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

Analyst Ratings Changes

Several brokerages have weighed in on AAPL. KeyCorp reaffirmed a “hold” rating and set a $247.61 price target on shares of Apple in a report on Wednesday, August 28th. Melius Research reaffirmed a “buy” rating and set a $265.00 price target on shares of Apple in a report on Tuesday, August 27th. Oppenheimer reiterated a “buy” rating and set a $250.00 price objective on shares of Apple in a research report on Tuesday, October 1st. Jefferies Financial Group cut shares of Apple from a “buy” rating to a “hold” rating and lifted their price objective for the company from $205.00 to $212.92 in a research report on Monday, October 7th. Finally, Piper Sandler Companies reiterated a “neutral” rating and set a $225.00 price objective (up previously from $190.00) on shares of Apple in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $239.27.

Insider Transactions at Apple

In other news, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction on Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction dated 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 sale, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $24,416,137.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 517,924 shares of company stock worth $114,786,399. 0.06% of the stock is currently owned by insiders.

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.