Asahi Life Asset Management CO. LTD. grew its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 5.4% in the third quarter, Holdings Channel.com reports. The firm owned 41,350 shares of the iPhone maker’s stock after acquiring an additional 2,118 shares during the quarter. Apple makes up approximately 5.8% of Asahi Life Asset Management CO. LTD.’s investment portfolio, making the stock its 2nd biggest position. Asahi Life Asset Management CO. LTD.’s holdings in Apple were worth $9,635,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Lantz Financial LLC boosted its holdings in Apple by 8.6% in the 2nd quarter. Lantz Financial LLC now owns 29,751 shares of the iPhone maker’s stock valued at $6,266,000 after purchasing an additional 2,361 shares during the last quarter. Trinity Financial Advisors LLC raised its position in shares of Apple by 2.3% during the 2nd quarter. Trinity Financial Advisors LLC now owns 29,427 shares of the iPhone maker’s stock valued at $6,198,000 after buying an additional 653 shares during the period. Foresight Capital Management Advisors Inc. lifted its holdings in Apple by 0.3% in the second quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock valued at $4,003,000 after acquiring an additional 55 shares during the last quarter. MADDEN SECURITIES Corp grew its position in Apple by 0.3% in the second quarter. MADDEN SECURITIES Corp now owns 31,487 shares of the iPhone maker’s stock worth $6,632,000 after acquiring an additional 90 shares during the period. Finally, Guinness Asset Management LTD increased its stake in Apple by 3.8% during the second quarter. Guinness Asset Management LTD now owns 156,985 shares of the iPhone maker’s stock worth $33,074,000 after acquiring an additional 5,759 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.
Apple Price Performance
Shares of NASDAQ AAPL opened at $255.59 on Friday. The stock’s 50-day simple moving average is $237.41 and its 200-day simple moving average is $227.79. 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 firm has a market capitalization of $3.86 trillion, a PE ratio of 42.04, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10.
Apple Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.39%. Apple’s dividend payout ratio is presently 16.45%.
Analyst Ratings Changes
Several brokerages have recently commented on AAPL. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $265.00 price target on shares of Apple in a research note on Tuesday, September 10th. Loop Capital lowered their target price on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Citigroup lifted their price target on shares of Apple to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, Oppenheimer reiterated a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Tuesday, October 1st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $237.47.
View Our Latest Research Report on AAPL
Insiders Place Their Bets
In other news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This trade represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 508,170 shares of company stock valued at $117,004,745. 0.06% of the stock is currently owned by insiders.
Apple 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.
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