Morangie Management LLC Has $4.98 Million Stock Holdings in Apple Inc. $AAPL

Key Points

• Morangie Management LLC increased its stake in Apple Inc. by 11.0% in the second quarter, owning 24,276 shares valued at $4.98 million, making Apple its 7th largest position.
• Apple's stock recently closed at $254.04 and has experienced a 1.6% decline, with a market capitalization of $3.77 trillion and a P/E ratio of 38.55.
• In the last quarter, insider sales amounted to 254,922 shares valued at $64.32 million, indicating significant trading activity among company executives.

Morangie Management LLC raised its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 11.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 24,276 shares of the iPhone maker's stock after purchasing an additional 2,403 shares during the quarter. Apple accounts for 4.3% of Morangie Management LLC's portfolio, making the stock its 7th biggest position. Morangie Management LLC's holdings in Apple were worth $4,981,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. Ryan Investment Management Inc. purchased a new position in shares of Apple during the second quarter valued at approximately $31,000. ROSS JOHNSON & Associates LLC increased its stake in shares of Apple by 1,800.0% during the first 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. Conquis Financial LLC purchased a new position in shares of Apple during the fourth quarter valued at approximately $63,000. LSV Asset Management purchased a new position in shares of Apple during the fourth quarter valued at approximately $65,000. Finally, Elite Financial Inc. purchased a new position in shares of Apple during the first quarter valued at approximately $58,000. Institutional investors own 67.73% of the company's stock.

Apple Stock Down 1.6%

NASDAQ AAPL opened at $254.04 on Friday. The stock's 50-day moving average price is $236.75 and its 200-day moving average price is $215.77. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a market capitalization of $3.77 trillion, a P/E ratio of 38.55, a price-to-earnings-growth ratio of 2.51 and a beta of 1.09.

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

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple's dividend payout ratio (DPR) is 15.78%.

Insider Transactions at Apple

In related news, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the completion of the sale, the senior vice president owned 179,158 shares in the company, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Deirdre O'brien sold 43,013 shares of the stock in a transaction dated 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 owned 136,687 shares of the company's stock, valued at $35,181,866.93. This represents a 23.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,922 shares of company stock valued at $64,320,190 over the last quarter. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on AAPL. Moffett Nathanson raised Apple from a "sell" rating to a "neutral" rating and set a $225.00 price target on the stock in a research note on Thursday, September 4th. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research note on Friday, July 25th. Wedbush set a $310.00 price target on Apple and gave the stock an "outperform" rating in a research note on Monday, September 22nd. DA Davidson reaffirmed a "neutral" rating and issued a $250.00 price target on shares of Apple in a research note on Thursday, September 11th. Finally, BMO Capital Markets reaffirmed a "buy" rating on shares of Apple in a research note on Wednesday, August 13th. 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 given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $248.29.

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.

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