Delta Investment Management LLC Decreases Stock Holdings in Apple Inc. $AAPL

Delta Investment Management LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 60,070 shares of the iPhone maker’s stock after selling 1,309 shares during the quarter. Apple makes up about 2.4% of Delta Investment Management LLC’s holdings, making the stock its 13th largest position. Delta Investment Management LLC’s holdings in Apple were worth $12,325,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of AAPL. Kingstone Capital Partners Texas LLC raised its position in Apple by 573,627.2% in the second quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock worth $39,065,374,000 after acquiring an additional 205,656,808 shares during the period. Nuveen LLC purchased a new stake in shares of Apple during the 1st quarter worth approximately $17,472,482,000. Northern Trust Corp raised its holdings in shares of Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares during the period. Amundi raised its holdings in shares of Apple by 27.4% in the 1st quarter. Amundi now owns 68,190,569 shares of the iPhone maker’s stock worth $13,870,795,000 after purchasing an additional 14,651,321 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Apple by 14.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock valued at $26,220,566,000 after purchasing an additional 13,137,968 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $277.55 on Friday. The company has a 50 day moving average of $262.61 and a 200 day moving average of $231.12. 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 stock has a market cap of $4.10 trillion, a P/E ratio of 42.12, a P/E/G ratio of 2.62 and a beta of 1.09. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $280.38.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, beating the consensus estimate of $1.74 by $0.11. The firm had revenue of $102.47 billion during the quarter, compared to the consensus estimate of $101.65 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the firm earned $1.64 EPS. As a group, sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, November 10th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple’s dividend payout ratio (DPR) is currently 13.92%.

Insider Buying and Selling at Apple

In other Apple news, CEO Timothy D. Cook sold 129,963 shares of the company’s stock in a transaction dated Thursday, October 2nd. The stock was 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 in the company, valued at $842,412,558.95. This represents a 3.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Deirdre O’brien sold 43,013 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total value of $11,071,116.07. Following the completion of the sale, the senior vice president directly owned 136,687 shares in the company, valued at approximately $35,181,866.93. The trade was a 23.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 228,052 shares of company stock valued at $58,604,588 over the last 90 days. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AAPL. Wedbush reissued an “outperform” rating on shares of Apple in a research report on Tuesday, October 21st. CLSA upgraded Apple to a “strong-buy” rating in a research note on Sunday, October 5th. Argus set a $325.00 price objective on shares of Apple and gave the company a “buy” rating in a report on Friday, October 31st. Loop Capital upgraded shares of Apple from a “hold” rating to a “buy” rating and increased their target price for the stock from $226.00 to $315.00 in a research report on Monday, October 20th. Finally, BMO Capital Markets reissued a “buy” rating on shares of Apple in a research report on Wednesday, August 13th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $278.22.

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.