Kornitzer Capital Management Inc. KS Sells 5,544 Shares of Apple Inc. (NASDAQ:AAPL)

Kornitzer Capital Management Inc. KS lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 534,358 shares of the iPhone maker’s stock after selling 5,544 shares during the quarter. Apple makes up about 2.0% of Kornitzer Capital Management Inc. KS’s holdings, making the stock its 2nd biggest position. Kornitzer Capital Management Inc. KS’s holdings in Apple were worth $103,649,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IFM Investors Pty Ltd grew its position in shares of Apple by 20.0% during the first quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock worth $456,728,000 after acquiring an additional 435,891 shares during the last quarter. Ironwood Wealth Management LLC. grew its position in shares of Apple by 0.4% during the first quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock worth $42,016,000 after acquiring an additional 1,040 shares during the last quarter. Markel Corp grew its position in shares of Apple by 0.7% during the first quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock worth $210,752,000 after acquiring an additional 8,450 shares during the last quarter. Camden Capital LLC grew its position in shares of Apple by 9.2% during the first quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock worth $27,305,000 after acquiring an additional 13,200 shares during the last quarter. Finally, Harbor Island Capital LLC grew its position in shares of Apple by 0.3% during the first quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock worth $23,629,000 after acquiring an additional 400 shares during the last quarter. Institutional investors and hedge funds own 58.51% of the company’s stock.

Apple Trading Up 0.9 %

Shares of AAPL stock opened at $191.45 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.94 and a debt-to-equity ratio of 1.53. The company has a market capitalization of $2.98 trillion, a price-to-earnings ratio of 31.28, a PEG ratio of 2.60 and a beta of 1.30. The firm has a 50-day moving average price of $177.15 and a 200 day moving average price of $181.03. Apple Inc. has a twelve month low of $124.17 and a twelve month high of $198.23.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $1.46 EPS for the quarter, beating the consensus estimate of $1.39 by $0.07. The company had revenue of $89.50 billion during the quarter, compared to analysts’ expectations of $89.34 billion. Apple had a return on equity of 160.78% and a net margin of 25.31%. The firm’s revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.29 EPS. Research analysts forecast that Apple Inc. will post 6.56 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, November 13th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.50%. The ex-dividend date was Friday, November 10th. Apple’s dividend payout ratio (DPR) is 15.69%.

Insider Buying and Selling at Apple

In other Apple news, CEO Timothy D. Cook sold 240,569 shares of Apple stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total value of $41,498,152.50. Following the completion of the sale, the chief executive officer now owns 3,280,053 shares in the company, valued at approximately $565,809,142.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Deirdre O’brien sold 65,536 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $172.11, for a total transaction of $11,279,400.96. Following the completion of the sale, the senior vice president now owns 136,445 shares in the company, valued at approximately $23,483,548.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 240,569 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total value of $41,498,152.50. Following the sale, the chief executive officer now owns 3,280,053 shares of the company’s stock, valued at approximately $565,809,142.50. The disclosure for this sale can be found here. Insiders sold 567,839 shares of company stock worth $100,675,794 in the last 90 days. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of research reports. Evercore ISI restated an “outperform” rating and set a $210.00 target price on shares of Apple in a research report on Thursday, September 28th. Rosenblatt Securities lowered their price objective on shares of Apple from $198.00 to $189.00 and set a “neutral” rating on the stock in a research report on Friday, November 3rd. Morgan Stanley reiterated an “overweight” rating and issued a $210.00 price objective on shares of Apple in a research report on Friday, November 3rd. Credit Suisse Group reiterated an “outperform” rating and issued a $220.00 price objective on shares of Apple in a research report on Friday, September 15th. Finally, Piper Sandler Companies lifted their price objective on shares of Apple from $180.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, July 31st. Ten analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $198.25.

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.