132,500 Shares in Apple Inc. (NASDAQ:AAPL) Bought by Manchester Global Management UK Ltd

Manchester Global Management UK Ltd purchased a new stake in Apple Inc. (NASDAQ:AAPL) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 132,500 shares of the iPhone maker’s stock, valued at approximately $27,907,000. Apple makes up approximately 4.9% of Manchester Global Management UK Ltd’s portfolio, making the stock its 9th largest position.

Several other hedge funds also recently added to or reduced their stakes in AAPL. Morse Asset Management Inc boosted its position in Apple by 16.8% during the 2nd quarter. Morse Asset Management Inc now owns 37,148 shares of the iPhone maker’s stock valued at $7,824,000 after purchasing an additional 5,333 shares during the period. Davidson Kempner Capital Management LP acquired a new position in shares of Apple during the second quarter valued at $25,240,000. Tairen Capital Ltd bought a new position in shares of Apple during the second quarter worth about $588,952,000. Lombard Odier Asset Management Europe Ltd increased its holdings in shares of Apple by 23.3% in the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 163,921 shares of the iPhone maker’s stock worth $34,525,000 after acquiring an additional 31,029 shares during the period. Finally, Public Sector Pension Investment Board lifted its position in Apple by 53.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 3,524,511 shares of the iPhone maker’s stock valued at $742,333,000 after purchasing an additional 1,232,712 shares during the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Apple

In other Apple news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at $24,416,137.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction 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 in the company, valued at $736,269,202.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Luca Maestri sold 59,305 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 412,746 shares of company stock valued at $93,021,362 over the last three months. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

AAPL has been the topic of several analyst reports. TD Cowen raised their target price on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Citigroup lifted their price objective on shares of Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wedbush restated an “outperform” rating and set a $285.00 price target on shares of Apple in a research report on Monday, September 9th. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, Raymond James raised their price objective on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $235.51.

Apple Price Performance

Apple stock opened at $224.23 on Tuesday. The firm has a market cap of $3.39 trillion, a P/E ratio of 36.88, a P/E/G ratio of 2.22 and a beta of 1.24. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The stock’s 50 day moving average is $226.82 and its 200 day moving average is $214.68.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.46 EPS. As a group, research analysts expect that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Friday, November 8th. Apple’s payout ratio is currently 16.45%.

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.