Sitrin Capital Management LLC grew its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 31.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,501 shares of the iPhone maker’s stock after buying an additional 11,936 shares during the period. Apple makes up approximately 5.9% of Sitrin Capital Management LLC’s holdings, making the stock its biggest position. Sitrin Capital Management LLC’s holdings in Apple were worth $11,767,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Lantz Financial LLC boosted its stake in Apple by 8.6% during the 2nd quarter. Lantz Financial LLC now owns 29,751 shares of the iPhone maker’s stock valued at $6,266,000 after purchasing an additional 2,361 shares during the period. Artemis Investment Management LLP lifted its position in shares of Apple by 271.2% during the 2nd quarter. Artemis Investment Management LLP now owns 1,098,251 shares of the iPhone maker’s stock worth $231,314,000 after buying an additional 802,371 shares during the period. Crestmont Private Wealth LLC lifted its holdings in shares of Apple by 28.9% during the second quarter. Crestmont Private Wealth LLC now owns 3,021 shares of the iPhone maker’s stock valued at $636,000 after acquiring an additional 678 shares during the period. Prospect Financial Services LLC boosted its position in Apple by 1.1% in the second quarter. Prospect Financial Services LLC now owns 52,839 shares of the iPhone maker’s stock valued at $11,129,000 after buying an additional 566 shares in the last quarter. Finally, Sapient Capital LLC boosted its holdings in shares of Apple by 5.6% in the 2nd quarter. Sapient Capital LLC now owns 1,320,049 shares of the iPhone maker’s stock worth $278,029,000 after acquiring an additional 70,145 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the topic of a number of research analyst reports. Wedbush increased their price objective on shares of Apple from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, December 26th. Rosenblatt Securities upped their price target on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Moffett Nathanson dropped their price objective on Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 19th. Wells Fargo & Company boosted their target price on Apple to $275.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Monness Crespi & Hardt reaffirmed a “buy” rating and set a $245.00 price target on shares of Apple in a research report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $238.03.

Check Out Our Latest Report on AAPL

Apple Stock Performance

Shares of AAPL stock traded down $0.49 on Friday, hitting $243.36. The company’s stock had a trading volume of 40,180,707 shares, compared to its average volume of 47,960,703. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The company has a market capitalization of $3.68 trillion, a PE ratio of 40.03, a PEG ratio of 2.41 and a beta of 1.20. The stock’s 50 day moving average is $238.91 and its 200-day moving average is $228.87. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL – Get Free Report) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same quarter in the prior year, the business posted $1.46 EPS. The business’s revenue was up 6.1% compared to the same quarter last year. Equities research analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.41%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Buying and Selling at Apple

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Apple Profile

(Free Report)

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.

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