Two Point Capital Management Inc. Takes $13.18 Million Position in Apple Inc. $AAPL

Key Points

• Two Point Capital Management Inc. acquired a new stake in Apple Inc. worth approximately $13.18 million, representing 5.6% of its portfolio and making it Apple's 6th largest position.
• Multiple institutional investors have recently increased their stakes in Apple, with a total of 67.73% of the stock now owned by institutional investors.
• Research analysts have a generally positive outlook on Apple, with the stock receiving a consensus rating of "Moderate Buy" and an average price target of $252.47.

Two Point Capital Management Inc. purchased a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) in the second quarter, according to its most recent filing with the SEC. The fund purchased 64,219 shares of the iPhone maker's stock, valued at approximately $13,176,000. Apple comprises 5.6% of Two Point Capital Management Inc.'s portfolio, making the stock its 6th biggest position.

A number of other institutional investors have also made changes to their positions in AAPL. Ryan Investment Management Inc. acquired a new position in Apple during the 2nd quarter valued at approximately $31,000. ROSS JOHNSON & Associates LLC boosted its position in 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 purchasing an additional 180 shares during the period. LSV Asset Management acquired a new position in Apple during the 4th quarter valued at approximately $65,000. Elite Financial Inc. acquired a new position in Apple during the 1st quarter valued at approximately $58,000. Finally, HFM Investment Advisors LLC acquired a new position in Apple during the 1st quarter valued at approximately $99,000. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Seaport Res Ptn upgraded Apple to a "strong-buy" rating in a research report on Wednesday, October 1st. Sanford C. Bernstein started coverage on Apple in a research report on Monday, September 15th. They set an "outperform" rating and a $290.00 price target for the company. Loop Capital upgraded Apple from a "hold" rating to a "buy" rating and boosted their price target for the stock from $226.00 to $315.00 in a research report on Monday. Moffett Nathanson upgraded Apple from a "sell" rating to a "neutral" rating and set a $225.00 price target for the company in a research report on Thursday, September 4th. Finally, Rosenblatt Securities boosted their price target on Apple from $223.00 to $241.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 10th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $252.47.

Apple Trading Up 1.2%

Shares of Apple stock opened at $262.82 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The firm has a market cap of $3.90 trillion, a price-to-earnings ratio of 39.88, a price-to-earnings-growth ratio of 2.52 and a beta of 1.09. The business has a fifty day simple moving average of $244.15 and a 200-day simple moving average of $219.18. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $265.29.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company's revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.40 earnings per share. On average, equities analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders 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 annualized dividend and a dividend yield of 0.4%. Apple's dividend payout ratio is 15.78%.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 47,125 shares of the company's stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the sale, the senior vice president owned 179,158 shares in the company, valued at $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Deirdre O'brien sold 43,013 shares of the business's stock in a transaction 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 259,121 shares of company stock worth $65,358,981. Corporate insiders own 0.06% of the company's stock.

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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