Apple Inc. (NASDAQ:AAPL) is Oppenheimer Asset Management Inc.’s 10th Largest Position

Oppenheimer Asset Management Inc. increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 23.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 442,572 shares of the iPhone maker’s stock after buying an additional 84,337 shares during the quarter. Apple comprises about 1.2% of Oppenheimer Asset Management Inc.’s holdings, making the stock its 10th biggest position. Oppenheimer Asset Management Inc.’s holdings in Apple were worth $93,215,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fidelis Capital Partners LLC raised its holdings 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 acquiring an additional 31,278 shares in the last quarter. Access Investment Management LLC acquired a new position in Apple during the first quarter worth $140,000. Hoese & Co LLP increased its position in Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after buying an additional 57 shares during the last quarter. Sage Financial Group Inc. acquired a new position in Apple during the second quarter worth $206,000. Finally, Benchmark Wealth Management LLC acquired a new position in Apple during the second quarter worth $208,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Down 1.3 %

Shares of AAPL opened at $222.91 on Friday. The stock has a market cap of $3.39 trillion, a price-to-earnings ratio of 33.93, a P/E/G ratio of 2.45 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The company has a 50-day moving average price of $227.18 and a two-hundred day moving average price of $212.03.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.15. The firm had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.46 earnings per share. Equities analysts predict that Apple Inc. will post 6.6 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, November 11th. Apple’s dividend payout ratio (DPR) is currently 15.22%.

Analysts Set New Price Targets

Several research firms have commented on AAPL. Maxim Group increased their target price on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research report on Friday. New Street Research reissued a “neutral” rating and set a $225.00 target price on shares of Apple in a research report on Wednesday, September 25th. TD Cowen increased their target price on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. UBS Group reissued a “hold” rating and set a $236.00 target price on shares of Apple in a research report on Wednesday, October 16th. Finally, Jefferies Financial Group downgraded shares of Apple from a “buy” rating to a “hold” rating and increased their target price for the stock from $205.00 to $212.92 in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $236.23.

Insider Activity

In other news, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the transaction, the chief operating officer now owns 489,944 shares in the company, valued at approximately $111,148,695.84. 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 accessible through this link. In related news, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the sale, the chief operating officer now owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 517,924 shares of company stock worth $114,786,399. Insiders own 0.06% of the company’s stock.

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.