Quantinno Capital Management LP Increases Position in Apple Inc. (NASDAQ:AAPL)

Quantinno Capital Management LP boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 31.0% during the third quarter, Holdings Channel.com reports. The firm owned 1,783,153 shares of the iPhone maker’s stock after acquiring an additional 421,983 shares during the period. Apple accounts for about 5.4% of Quantinno Capital Management LP’s portfolio, making the stock its largest position. Quantinno Capital Management LP’s holdings in Apple were worth $415,475,000 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 AAPL. High Net Worth Advisory Group LLC grew its holdings in Apple by 1.7% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after acquiring an additional 1,066 shares in the last quarter. Amara Financial LLC. acquired a new position in shares of Apple during the third quarter valued at about $288,000. Granite Investment Partners LLC increased its position in shares of Apple by 2.7% in 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 lifted its holdings in shares of Apple by 1.8% during the second 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 during the period. Finally, Sterling Investment Counsel LLC boosted its holdings in shares of Apple by 3.8% in the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after acquiring an additional 2,565 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on AAPL shares. Citigroup lifted their price objective on shares of Apple from $255.00 to $275.00 and gave the company a “buy” rating in a report on Friday, January 31st. Wedbush restated an “outperform” rating and set a $325.00 target price on shares of Apple in a report on Thursday, January 23rd. UBS Group reiterated a “neutral” rating and issued a $236.00 target price on shares of Apple in a report on Monday, December 2nd. Bank of America upped their target price on shares of Apple from $253.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Finally, Monness Crespi & Hardt lifted their target price on Apple to $245.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Four research 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $242.52.

Insider Transactions at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction that occurred 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 sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ AAPL opened at $227.63 on Monday. The firm has a market cap of $3.42 trillion, a P/E ratio of 36.13, a P/E/G ratio of 2.32 and a beta of 1.20. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The business’s 50-day moving average price is $241.26 and its 200 day moving average price is $231.04. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating 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%. On average, equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business 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 dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s dividend payout ratio is presently 15.87%.

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.