Acas LLC Has $7.75 Million Position in Apple Inc. $AAPL

Acas LLC lowered its stake in Apple Inc. (NASDAQ:AAPL) by 11.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 37,756 shares of the iPhone maker’s stock after selling 4,756 shares during the period. Apple makes up 5.2% of Acas LLC’s portfolio, making the stock its 5th largest holding. Acas LLC’s holdings in Apple were worth $7,746,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Financial Futures Ltd Liability Co. increased its holdings in shares of Apple by 13.2% during the second quarter. Financial Futures Ltd Liability Co. now owns 3,552 shares of the iPhone maker’s stock worth $729,000 after purchasing an additional 415 shares during the period. Bell & Brown Wealth Advisors LLC boosted its stake in shares of Apple by 0.4% in the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock valued at $13,772,000 after buying an additional 240 shares during the period. American National Bank & Trust grew its position in Apple by 2.4% during the second quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock worth $40,107,000 after buying an additional 4,543 shares in the last quarter. Riverwater Partners LLC increased its stake in Apple by 17.9% during the 2nd quarter. Riverwater Partners LLC now owns 5,404 shares of the iPhone maker’s stock worth $1,109,000 after acquiring an additional 819 shares during the period. Finally, Andina Capital Management LLC raised its holdings in Apple by 209.2% in the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock valued at $1,507,000 after acquiring an additional 4,591 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AAPL has been the topic of several analyst reports. Tigress Financial increased their target price on Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a report on Wednesday, September 17th. Barclays increased their price objective on shares of Apple from $180.00 to $230.00 and gave the stock an “underweight” rating in a research note on Friday, October 31st. Wedbush set a $350.00 target price on shares of Apple and gave the company an “outperform” rating in a research report on Monday. Sanford C. Bernstein set a $325.00 price target on shares of Apple in a report on Monday, November 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Apple from $290.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $282.51.

Apple Stock Performance

NASDAQ AAPL opened at $278.28 on Friday. The firm’s fifty day moving average price is $268.24 and its two-hundred day moving average price is $236.77. The stock has a market cap of $4.11 trillion, a PE ratio of 37.25, a PEG ratio of 2.60 and a beta of 1.10. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.86 and a current ratio of 0.89. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $288.62.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 164.05% and a net margin of 26.92%.Apple’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.64 EPS. On average, equities analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

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

Insider Activity at Apple

In other news, CEO Timothy D. Cook sold 129,963 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. This represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Deirdre O’brien sold 43,013 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the completion of the transaction, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. This trade represents a 23.94% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 228,052 shares of company stock valued at $58,604,588. Corporate insiders own 0.06% of the company’s stock.

Apple Company 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.