Apple Inc. $AAPL Holdings Increased by Athena Investment Management

Athena Investment Management grew its holdings in Apple Inc. (NASDAQ:AAPL) by 12.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,130 shares of the iPhone maker’s stock after purchasing an additional 1,975 shares during the period. Apple comprises about 2.1% of Athena Investment Management’s investment portfolio, making the stock its 8th biggest holding. Athena Investment Management’s holdings in Apple were worth $3,720,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Ryan Investment Management Inc. bought a new stake in shares of Apple in the second quarter worth approximately $31,000. ROSS JOHNSON & Associates LLC boosted its holdings in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares during the last quarter. Nexus Investment Management ULC boosted its holdings in 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 purchasing an additional 200 shares during the last quarter. Elite Financial Inc. bought a new stake in Apple in the 1st quarter worth approximately $58,000. Finally, LSV Asset Management purchased a new stake in Apple during the 4th quarter valued at $65,000. 67.73% of the stock is owned by institutional investors.

Apple Stock Down 0.3%

Shares of AAPL opened at $277.18 on Wednesday. The business’s 50 day moving average is $266.95 and its 200 day moving average is $235.60. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 1.06. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $288.62. The company has a market capitalization of $4.10 trillion, a PE ratio of 37.11, a price-to-earnings-growth ratio of 2.60 and a beta of 1.10.

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 analysts’ consensus estimates of $1.74 by $0.11. The business had revenue of $102.47 billion during the quarter, compared to analyst estimates of $101.65 billion. Apple had a net margin of 26.92% and a return on equity of 164.05%. The company’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the firm posted $1.64 EPS. Research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 3,752 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $271.23, for a total transaction of $1,017,654.96. Following the completion of the transaction, the insider owned 15,098 shares of the company’s stock, valued at $4,095,030.54. This represents a 19.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 129,963 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total value of $33,375,798.03. Following the transaction, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at approximately $842,412,558.95. The trade was a 3.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 228,052 shares of company stock worth $58,604,588. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AAPL has been the topic of a number of research reports. DA Davidson raised their price target on Apple from $250.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Weiss Ratings reissued a “buy (b-)” rating on shares of Apple in a research report on Monday. Melius Research set a $345.00 price target on shares of Apple in a research report on Friday, October 31st. Wells Fargo & Company set a $300.00 price objective on shares of Apple and gave the stock an “overweight” rating in a report on Friday, October 31st. Finally, Monness Crespi & Hardt upped their target price on shares of Apple from $270.00 to $300.00 and gave the company a “buy” rating in a report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $282.51.

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.