Apple Inc. $AAPL Shares Bought by Convergence Financial LLC

Convergence Financial LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 7.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 43,373 shares of the iPhone maker’s stock after buying an additional 3,168 shares during the quarter. Apple makes up about 1.5% of Convergence Financial LLC’s holdings, making the stock its 19th largest position. Convergence Financial LLC’s holdings in Apple were worth $8,899,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in AAPL. Ryan Investment Management Inc. purchased a new stake in Apple in the 2nd quarter valued at approximately $31,000. ROSS JOHNSON & Associates LLC increased its position in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after buying an additional 180 shares in the last quarter. Nexus Investment Management ULC raised its holdings in shares of Apple by 333.3% in the second quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock worth $53,000 after acquiring an additional 200 shares during the last quarter. LSV Asset Management acquired a new position in shares of Apple in the fourth quarter worth $65,000. Finally, Elite Financial Inc. purchased a new stake in shares of Apple in the first quarter valued at $58,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

NASDAQ:AAPL opened at $284.15 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 1.06. The company has a market cap of $4.20 trillion, a P/E ratio of 38.04, a P/E/G ratio of 2.64 and a beta of 1.10. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $288.62. The firm’s 50 day moving average is $265.09 and its two-hundred day moving average is $233.25.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.11. The company had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a net margin of 26.92% and a return on equity of 164.05%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.64 EPS. Analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

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

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of recent research reports. Monness Crespi & Hardt lifted their price objective on Apple from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Melius lifted their price target on shares of Apple from $290.00 to $345.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Phillip Securities downgraded shares of Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price objective on the stock. in a research note on Thursday, September 11th. Moffett Nathanson upgraded shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price on the stock in a research report on Thursday, September 4th. Finally, Cowen reaffirmed a “buy” rating on shares of Apple in a research note on Monday, October 27th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $278.53.

Insiders Place Their Bets

In other Apple news, CEO Timothy D. Cook sold 129,963 shares of Apple stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the transaction, the chief executive officer directly owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 3,752 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $271.23, for a total transaction of $1,017,654.96. Following the sale, the insider owned 15,098 shares of the company’s stock, valued at approximately $4,095,030.54. This represents a 19.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 228,052 shares of company stock worth $58,604,588. 0.06% of the stock is owned by insiders.

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.