Manhattan West Asset Management LLC raised its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 13.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 70,360 shares of the iPhone maker's stock after acquiring an additional 8,106 shares during the period. Apple makes up 4.0% of Manhattan West Asset Management LLC's investment portfolio, making the stock its 3rd largest holding. Manhattan West Asset Management LLC's holdings in Apple were worth $15,629,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Conquis Financial LLC purchased a new position in shares of Apple in the 4th quarter valued at about $63,000. LSV Asset Management purchased a new position in shares of Apple in the 4th quarter valued at about $65,000. Elite Financial Inc. purchased a new position in shares of Apple in the 1st quarter valued at about $58,000. Pillar Financial Advisors LLC purchased a new position in shares of Apple in the 4th quarter valued at about $82,000. Finally, Sellwood Investment Partners LLC purchased a new position in shares of Apple in the 4th quarter valued at about $147,000. Institutional investors and hedge funds own 67.73% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on AAPL shares. Evercore ISI increased their price target on shares of Apple from $250.00 to $260.00 and gave the company an "outperform" rating in a report on Wednesday. Morgan Stanley set a $240.00 price target on shares of Apple and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Phillip Securities reiterated a "reduce" rating and issued a $200.00 price target on shares of Apple in a report on Thursday. Moffett Nathanson upgraded shares of Apple from a "sell" rating to a "neutral" rating and set a $225.00 target price for the company in a report on Thursday, September 4th. Finally, JPMorgan Chase & Co. raised their target price on shares of Apple from $250.00 to $255.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $240.80.
Check Out Our Latest Stock Analysis on Apple
Insider Activity at Apple
In other news, SVP Deirdre O'brien sold 34,821 shares of Apple stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the sale, the senior vice president directly owned 136,687 shares in the company, valued at $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.06% of the stock is currently owned by company insiders.
Apple Price Performance
NASDAQ:AAPL traded up $3.09 during mid-day trading on Thursday, hitting $229.88. 27,882,558 shares of the company's stock traded hands, compared to its average volume of 56,750,219. The company has a market cap of $3.41 trillion, a PE ratio of 34.86, a price-to-earnings-growth ratio of 2.45 and a beta of 1.11. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The firm's 50 day simple moving average is $220.75 and its 200 day simple moving average is $212.60.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company's quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.40 earnings per share. Sell-side analysts expect that Apple Inc. will post 7.28 EPS for the current year.
Apple Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. Apple's payout ratio is 15.78%.
Apple Company Profile
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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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