Genus Capital Management Inc. Has $4.32 Million Stock Position in Apple Inc. $AAPL

Genus Capital Management Inc. reduced its stake in Apple Inc. (NASDAQ:AAPL) by 64.0% during the 2nd quarter, Holdings Channel reports. The fund owned 21,030 shares of the iPhone maker’s stock after selling 37,400 shares during the period. Genus Capital Management Inc.’s holdings in Apple were worth $4,315,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in AAPL. Ryan Investment Management Inc. bought a new position in Apple during the 2nd quarter worth $31,000. ROSS JOHNSON & Associates LLC grew its stake in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 180 shares in the last quarter. Nexus Investment Management ULC increased its position in Apple by 333.3% during 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 period. Elite Financial Inc. bought a new position in Apple during the first quarter worth about $58,000. Finally, LSV Asset Management acquired a new stake in Apple in the 4th quarter worth about $65,000. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Tigress Financial increased their target price on shares of Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 17th. Wall Street Zen downgraded Apple from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Phillip Securities cut Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price objective for the company. in a report on Thursday, September 11th. Wedbush reiterated an “outperform” rating on shares of Apple in a research report on Tuesday. Finally, Melius raised their price target on Apple from $290.00 to $345.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Three research 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $278.53.

Insider Buying and Selling at Apple

In other news, SVP Deirdre O’brien sold 43,013 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 129,963 shares of the firm’s stock in a transaction 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 228,052 shares of company stock worth $58,604,588 over the last three months. 0.06% of the stock is owned by corporate insiders.

Apple Stock Down 0.7%

AAPL stock opened at $284.15 on Thursday. The firm has a 50-day moving average price of $265.09 and a 200-day moving average price of $233.25. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $288.62. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $4.20 trillion, a P/E ratio of 38.04, a price-to-earnings-growth ratio of 2.64 and a beta of 1.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, beating the consensus estimate of $1.74 by $0.11. Apple had a net margin of 26.92% and a return on equity of 164.05%. The business had revenue of $102.47 billion during the quarter, compared to the consensus estimate of $101.65 billion. During the same quarter in the prior year, the firm earned $1.64 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. As a group, equities research analysts anticipate 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, November 13th. Investors of record on Monday, November 10th were given a dividend of $0.26 per share. The ex-dividend date was Monday, November 10th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple’s payout ratio is currently 13.92%.

About Apple

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.