Cloud Capital Management LLC Has $10.49 Million Stock Position in Apple Inc. $AAPL

Cloud Capital Management LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 230.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 51,569 shares of the iPhone maker’s stock after purchasing an additional 35,957 shares during the period. Apple accounts for about 6.5% of Cloud Capital Management LLC’s holdings, making the stock its 3rd largest position. Cloud Capital Management LLC’s holdings in Apple were worth $10,486,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Apple by 0.4% during the first quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker’s stock valued at $311,157,662,000 after acquiring an additional 5,005,297 shares during the last quarter. Kingstone Capital Partners Texas LLC boosted its stake in shares of Apple by 573,627.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock worth $39,065,374,000 after purchasing an additional 205,656,808 shares during the period. Northern Trust Corp grew its holdings in Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after purchasing an additional 20,079,472 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Apple by 14.3% during the 4th 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. Finally, Goldman Sachs Group Inc. raised its position in Apple by 1.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 98,099,909 shares of the iPhone maker’s stock worth $21,790,933,000 after purchasing an additional 984,157 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Price Performance

AAPL opened at $284.15 on Thursday. The company has a market capitalization of $4.20 trillion, a price-to-earnings ratio of 38.04, a PEG ratio of 2.64 and a beta of 1.10. 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 business’s fifty day simple moving average is $265.09 and its 200-day simple moving average is $233.25.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.11. Apple had a return on equity of 164.05% and a net margin of 26.92%.The firm had revenue of $102.47 billion during the quarter, compared to the consensus estimate of $101.65 billion. During the same period in the previous year, the company posted $1.64 earnings per share. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. On average, equities research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

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

Wall Street Analyst Weigh In

AAPL has been the subject of several recent analyst reports. Bank of America boosted their target price on Apple from $270.00 to $320.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Melius Research set a $345.00 price objective on Apple in a report on Friday, October 31st. Phillip Securities downgraded Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price objective on the stock. in a research report on Thursday, September 11th. Argus set a $325.00 target price on Apple and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, Seaport Res Ptn raised shares of Apple to a “strong-buy” rating in a research note on Wednesday, October 1st. Three analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $278.53.

Insider Activity

In other Apple news, insider Chris Kondo sold 3,752 shares of the company’s stock in a transaction 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 completion of the sale, the insider owned 15,098 shares in the company, valued at $4,095,030.54. This represents a 19.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the sale, the senior vice president directly owned 179,158 shares in the company, valued at $46,005,982.82. This trade represents a 20.83% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 228,052 shares of company stock valued at $58,604,588. 0.06% of the stock is currently owned by corporate insiders.

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.