PDT Partners LLC Buys New Position in Apple Inc. (NASDAQ:AAPL)

PDT Partners LLC purchased a new position in Apple Inc. (NASDAQ:AAPLFree Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,860 shares of the iPhone maker’s stock, valued at approximately $1,365,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in AAPL. Fred Alger Management LLC boosted its stake in Apple by 1.1% in the third quarter. Fred Alger Management LLC now owns 4,822,803 shares of the iPhone maker’s stock worth $1,123,713,000 after buying an additional 51,495 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of Apple by 1.8% in the 3rd quarter. Captrust Financial Advisors now owns 4,934,005 shares of the iPhone maker’s stock valued at $1,149,623,000 after purchasing an additional 85,685 shares in the last quarter. Icon Wealth Advisors LLC lifted its stake in Apple by 1.9% in the third quarter. Icon Wealth Advisors LLC now owns 123,487 shares of the iPhone maker’s stock worth $28,773,000 after purchasing an additional 2,333 shares during the last quarter. Centric Wealth Management boosted its position in Apple by 1.9% during the third quarter. Centric Wealth Management now owns 73,166 shares of the iPhone maker’s stock valued at $16,296,000 after buying an additional 1,339 shares during the period. Finally, Peterson Wealth Management grew its stake in shares of Apple by 0.5% during the third quarter. Peterson Wealth Management now owns 24,013 shares of the iPhone maker’s stock valued at $5,595,000 after buying an additional 121 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Up 0.3 %

NASDAQ:AAPL opened at $233.22 on Friday. The firm has a 50-day simple moving average of $241.49 and a two-hundred day simple moving average of $230.96. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The firm has a market cap of $3.51 trillion, a P/E ratio of 37.02, a P/E/G ratio of 2.36 and a beta of 1.20.

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

Apple Dividend Announcement

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

Insider Transactions at Apple

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AAPL. Loop Capital cut Apple from a “buy” rating to a “hold” rating and set a $230.00 target price for the company. in a report on Tuesday, January 21st. Wedbush restated an “outperform” rating and issued a $325.00 target price on shares of Apple in a report on Thursday, January 23rd. Oppenheimer lowered shares of Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Moffett Nathanson reissued a “sell” rating and issued a $188.00 price target (down previously from $202.00) on shares of Apple in a report on Tuesday, January 7th. Finally, Citigroup upped their price objective on shares of Apple from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus target price of $242.52.

Read Our Latest Report on Apple

Apple Profile

(Free Report)

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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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