MayTech Global Investments LLC Grows Stake in Apple Inc. (NASDAQ:AAPL)

MayTech Global Investments LLC grew its stake in shares of Apple Inc. (NASDAQ:AAPL) by 13.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 194,132 shares of the iPhone maker’s stock after acquiring an additional 22,284 shares during the quarter. Apple comprises about 6.0% of MayTech Global Investments LLC’s investment portfolio, making the stock its 5th biggest holding. MayTech Global Investments LLC’s holdings in Apple were worth $45,233,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. High Net Worth Advisory Group LLC grew its position in Apple by 1.7% during the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after buying an additional 1,066 shares during the period. Amara Financial LLC. purchased a new position in shares of Apple during the 3rd quarter worth $288,000. Granite Investment Partners LLC grew its position in shares of Apple by 2.7% during the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after acquiring an additional 7,606 shares during the period. Truist Financial Corp increased its stake in shares of Apple by 1.8% in the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after purchasing an additional 126,210 shares in the last quarter. Finally, Sterling Investment Counsel LLC raised its holdings in Apple by 3.8% in the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock worth $16,269,000 after purchasing an additional 2,565 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Apple Price Performance

AAPL stock opened at $232.47 on Thursday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $260.10. The company has a 50-day moving average price of $241.54 and a 200 day moving average price of $230.95. The stock has a market cap of $3.49 trillion, a PE ratio of 36.90, a P/E/G ratio of 2.36 and a beta of 1.20. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Equities research analysts anticipate that Apple Inc. will post 7.33 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 13th. Shareholders of record on Monday, February 10th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Monday, February 10th. Apple’s dividend payout ratio (DPR) is 15.87%.

Analysts Set New Price Targets

Several analysts have issued reports on AAPL shares. Maxim Group boosted their price target on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a report on Friday, November 1st. Piper Sandler reissued a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, October 9th. Citigroup lifted their price target on shares of Apple from $255.00 to $275.00 and gave the company a “buy” rating in a report on Friday, January 31st. Loop Capital cut shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 price objective for the company. in a research note on Tuesday, January 21st. Finally, Moffett Nathanson restated a “sell” rating and set a $188.00 price objective (down from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $242.52.

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.