Generate Investment Management Ltd Grows Stock Holdings in Apple Inc. $AAPL

Key Points

• Generate Investment Management Ltd increased its holdings in Apple Inc. by 1.4%, owning a total of 184,657 shares valued at approximately $37.9 million as of the end of the second quarter.
• Insiders, including SVP Katherine L. Adams and CEO Timothy D. Cook, made significant stock sales in October, leading to a decrease in their respective positions by 20.83% and 3.81%.
• Apple's recent earnings report showed $1.57 EPS, surpassing estimates, with a revenue of $94.04 billion for the quarter, reflecting a 9.6% year-over-year increase.

Generate Investment Management Ltd boosted its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 184,657 shares of the iPhone maker's stock after acquiring an additional 2,497 shares during the period. Apple comprises approximately 2.1% of Generate Investment Management Ltd's holdings, making the stock its 14th biggest holding. Generate Investment Management Ltd's holdings in Apple were worth $37,886,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. Ryan Investment Management Inc. purchased a new stake in Apple in the 2nd quarter worth approximately $31,000. ROSS JOHNSON & Associates LLC grew its stake in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after buying an additional 180 shares during the period. Elite Financial Inc. purchased a new stake in shares of Apple during the 1st quarter valued at $58,000. LSV Asset Management purchased a new stake in shares of Apple during the 4th quarter valued at $65,000. Finally, HFM Investment Advisors LLC purchased a new stake in shares of Apple during the 1st quarter valued at $99,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of the business's stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the transaction, the senior vice president owned 179,158 shares in the company, valued at $46,005,982.82. The trade was a 20.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Timothy D. Cook sold 129,963 shares of the business's stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the completion of the transaction, the chief executive officer owned 3,280,295 shares in the company, valued at $842,412,558.95. This represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,922 shares of company stock worth $64,320,190 in the last quarter. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

NASDAQ:AAPL opened at $249.34 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $3.70 trillion, a price-to-earnings ratio of 37.84, a PEG ratio of 2.41 and a beta of 1.09. The firm's fifty day simple moving average is $240.12 and its 200 day simple moving average is $216.49. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10.

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

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple's payout ratio is currently 15.78%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AAPL. HSBC set a $220.00 price objective on shares of Apple and gave the company a "hold" rating in a research note on Monday, September 8th. JPMorgan Chase & Co. boosted their price objective on shares of Apple from $255.00 to $280.00 and gave the company an "overweight" rating in a research note on Friday, September 19th. CLSA raised shares of Apple to a "strong-buy" rating in a research note on Sunday, October 5th. Rosenblatt Securities boosted their price objective on shares of Apple from $223.00 to $241.00 and gave the company a "neutral" rating in a research note on Wednesday, September 10th. Finally, Seaport Res Ptn raised shares of Apple to a "strong-buy" rating in a research note on Wednesday, October 1st. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price 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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