DT Investment Partners LLC Boosts Holdings in Apple Inc. (NASDAQ:AAPL)

DT Investment Partners LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 4.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,630 shares of the iPhone maker’s stock after purchasing an additional 2,420 shares during the period. Apple comprises 1.0% of DT Investment Partners LLC’s investment portfolio, making the stock its 21st biggest position. DT Investment Partners LLC’s holdings in Apple were worth $12,496,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of AAPL. Global Trust Asset Management LLC grew its holdings in shares of Apple by 3.5% during the third quarter. Global Trust Asset Management LLC now owns 52,833 shares of the iPhone maker’s stock worth $12,310,000 after buying an additional 1,767 shares in the last quarter. Cambridge Advisors Inc. boosted its position in Apple by 1.1% during the third quarter. Cambridge Advisors Inc. now owns 40,110 shares of the iPhone maker’s stock worth $9,346,000 after acquiring an additional 433 shares during the last quarter. Peoples Bank OH grew its stake in Apple by 0.5% during the 3rd quarter. Peoples Bank OH now owns 32,924 shares of the iPhone maker’s stock valued at $7,671,000 after acquiring an additional 161 shares in the last quarter. Rogco LP raised its holdings in Apple by 2.9% in the 3rd quarter. Rogco LP now owns 21,288 shares of the iPhone maker’s stock valued at $4,960,000 after acquiring an additional 605 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its stake in Apple by 4.3% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 13,223 shares of the iPhone maker’s stock worth $3,081,000 after purchasing an additional 547 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity at Apple

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of Apple 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 transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the transaction, the senior vice president now directly owns 187,043 shares in the company, valued at approximately $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 508,170 shares of company stock valued at $117,004,745. Insiders own 0.06% of the company’s stock.

Apple Stock Up 1.9 %

Shares of NASDAQ:AAPL opened at $254.49 on Monday. The company has a 50 day moving average price of $234.97 and a two-hundred day moving average price of $225.70. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The company has a market capitalization of $3.85 trillion, a PE ratio of 41.86, a PEG ratio of 2.41 and a beta of 1.23. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $255.00.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to the consensus estimate 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 firm earned $1.46 earnings per share. Analysts forecast that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.39%. Apple’s payout ratio is presently 16.45%.

Analyst Ratings Changes

Several equities research analysts recently commented on AAPL shares. Barclays cut their price target on Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, November 1st. Wells Fargo & Company lifted their price target on Apple to $275.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Citigroup upped their price objective on shares of Apple to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price on the stock. in a research note on Friday, October 25th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $236.78.

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.