Oak Asset Management LLC Buys 155,757 Shares of Apple Inc. (NASDAQ:AAPL)

Oak Asset Management LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 1,988.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 163,591 shares of the iPhone maker’s stock after buying an additional 155,757 shares during the quarter. Apple makes up approximately 11.0% of Oak Asset Management LLC’s portfolio, making the stock its biggest position. Oak Asset Management LLC’s holdings in Apple were worth $22,608,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Apple by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after acquiring an additional 8,734,393 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Apple by 2.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 237,910,783 shares of the iPhone maker’s stock valued at $32,527,162,000 after purchasing an additional 4,831,418 shares during the last quarter. Legal & General Group Plc raised its holdings in Apple by 8.2% during the second quarter. Legal & General Group Plc now owns 123,534,393 shares of the iPhone maker’s stock worth $16,889,649,000 after purchasing an additional 9,411,018 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Apple by 1.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock worth $14,097,970,000 after buying an additional 1,155,915 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its holdings in shares of Apple by 12.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 80,467,043 shares of the iPhone maker’s stock valued at $11,001,469,000 after buying an additional 8,716,964 shares in the last quarter. 57.60% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Deirdre O’brien sold 8,053 shares of the stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $142.45, for a total value of $1,147,149.85. Following the sale, the senior vice president now directly owns 136,290 shares in the company, valued at $19,414,510.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Chris Kondo sold 20,200 shares of the company’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total value of $3,004,144.00. Following the sale, the insider now directly owns 31,505 shares in the company, valued at $4,685,423.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Deirdre O’brien sold 8,053 shares of Apple stock in a transaction dated Monday, October 17th. The stock was sold at an average price of $142.45, for a total value of $1,147,149.85. Following the sale, the senior vice president now owns 136,290 shares of the company’s stock, valued at approximately $19,414,510.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 204,552 shares of company stock worth $31,645,123. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on AAPL. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research report on Saturday, November 5th. Fundamental Research upped their target price on Apple to $168.50 and gave the company a “buy” rating in a research report on Tuesday, November 8th. Morgan Stanley cut their price target on Apple from $177.00 to $175.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 8th. Bank of America lowered their target price on shares of Apple from $160.00 to $154.00 and set a “neutral” rating on the stock in a research report on Monday, November 7th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $189.00 price target on shares of Apple in a research report on Tuesday, November 8th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $173.57.

Apple Price Performance

AAPL stock opened at $129.62 on Monday. The company has a market cap of $2.06 trillion, a price-to-earnings ratio of 21.21, a PEG ratio of 1.68 and a beta of 1.24. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.95. The firm has a 50 day moving average of $140.61 and a 200-day moving average of $148.57. Apple Inc. has a 12-month low of $124.17 and a 12-month high of $179.61.

Apple (NASDAQ:AAPLGet Rating) last posted its earnings results on Thursday, October 27th. The iPhone maker reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. Apple had a return on equity of 160.90% and a net margin of 25.31%. The company had revenue of $90.15 billion for the quarter, compared to the consensus estimate of $88.77 billion. During the same period in the previous year, the business earned $1.24 earnings per share. Apple’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts expect that Apple Inc. will post 6.19 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were issued a dividend of $0.23 per share. The ex-dividend date was Friday, November 4th. This represents a $0.92 annualized dividend and a yield of 0.71%. Apple’s dividend payout ratio (DPR) is currently 15.06%.

About Apple

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, 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.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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