Apple Inc. $AAPL Shares Purchased by Consolidated Capital Management LLC

Key Points

• Consolidated Capital Management LLC increased its stake in Apple Inc. by 12.9%, owning a total of 56,671 shares, worth approximately $11.6 million, making it the firm's 9th largest holding.
• Insider sales include SVP Deirdre O'brien and CEO Timothy D. Cook selling over 172,000 shares combined, representing a decrease in their ownership positions by 23.94% and 3.81%, respectively.
• Apple declared a quarterly dividend of $0.26 per share, reflecting an annualized rate of $1.04 and a dividend yield of 0.4%, with a payout ratio of 15.78%.

Consolidated Capital Management LLC lifted its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 12.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,671 shares of the iPhone maker's stock after purchasing an additional 6,497 shares during the quarter. Apple makes up 4.2% of Consolidated Capital Management LLC's investment portfolio, making the stock its 9th biggest holding. Consolidated Capital Management LLC's holdings in Apple were worth $11,627,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Ryan Investment Management Inc. purchased a new position in shares of Apple in the 2nd quarter valued at approximately $31,000. ROSS JOHNSON & Associates LLC grew its stake in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after purchasing an additional 180 shares during the last quarter. Elite Financial Inc. purchased a new position in shares of Apple in the 1st quarter valued at approximately $58,000. LSV Asset Management purchased a new position in shares of Apple in the 4th quarter valued at approximately $65,000. Finally, HFM Investment Advisors LLC purchased a new position in shares of Apple in the 1st quarter valued at approximately $99,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Apple

In related news, SVP Deirdre O'brien sold 43,013 shares of the firm's stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the sale, the senior vice president directly owned 136,687 shares in the company, valued at $35,181,866.93. This trade represents a 23.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total value of $33,375,798.03. Following the transaction, the chief executive officer directly owned 3,280,295 shares of the company's stock, valued at approximately $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 254,922 shares of company stock worth $64,320,190. 0.06% of the stock is currently owned by company insiders.

Apple Stock Performance

Apple stock opened at $247.66 on Tuesday. 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 stock has a fifty day moving average of $238.50 and a two-hundred day moving average of $216.04. The company has a market capitalization of $3.68 trillion, a price-to-earnings ratio of 37.58, a PEG ratio of 2.39 and a beta of 1.09. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion for the quarter, compared to analysts' expectations of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business's revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.40 earnings per share. On average, analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio is presently 15.78%.

Analyst Ratings Changes

Several brokerages have weighed in on AAPL. Wedbush set a $310.00 target price on Apple and gave the company an "outperform" rating in a research note on Monday, September 22nd. Raymond James Financial reissued an "outperform" rating and set a $240.00 target price (up from $230.00) on shares of Apple in a research note on Friday, August 1st. JPMorgan Chase & Co. increased their target price on Apple from $255.00 to $280.00 and gave the stock an "overweight" rating in a research note on Friday, September 19th. Evercore ISI set a $290.00 target price on Apple and gave the stock an "outperform" rating in a research note on Friday, September 26th. Finally, Tigress Financial increased their target price on Apple from $300.00 to $305.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, September 17th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $248.29.

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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