Crane Advisory LLC Takes Position in Apple Inc. (NASDAQ:AAPL)

Crane Advisory LLC bought a new stake in Apple Inc. (NASDAQ:AAPLGet Rating) in the third quarter, Holdings Channel.com reports. The firm bought 8,423 shares of the iPhone maker’s stock, valued at approximately $1,171,000. Apple makes up about 0.6% of Crane Advisory LLC’s holdings, making the stock its 14th biggest position.

A number of other hedge funds have also modified their holdings of the business. Legal & General Group Plc increased its position 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 during the last quarter. Vanguard Group Inc. increased its position in Apple by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after purchasing an additional 8,734,393 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in Apple by 12.1% during the second quarter. UBS Asset Management Americas Inc. now owns 80,467,043 shares of the iPhone maker’s stock worth $11,001,469,000 after purchasing an additional 8,716,964 shares during the last quarter. Swiss National Bank increased its position in Apple by 13.1% during the first quarter. Swiss National Bank now owns 71,060,708 shares of the iPhone maker’s stock worth $12,407,910,000 after purchasing an additional 8,230,300 shares during the last quarter. Finally, Verity Asset Management Inc. increased its position in Apple by 29,097.9% during the first quarter. Verity Asset Management Inc. now owns 5,300,881 shares of the iPhone maker’s stock worth $189,000 after purchasing an additional 5,282,726 shares during the last quarter. 57.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AAPL has been the subject of a number of recent analyst reports. Morgan Stanley dropped their price target on shares of Apple from $177.00 to $175.00 and set an “overweight” rating for the company in a research report on Tuesday, November 8th. KeyCorp reiterated a “buy” rating and set a $175.00 price target on shares of Apple in a research report on Tuesday, November 8th. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research report on Saturday, November 5th. Bank Of America (Bofa) lowered shares of Apple from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $189.00 to $160.00 in a research note on Friday, September 30th. Finally, BNP Paribas lowered shares of Apple from an “outperform” rating to a “neutral” rating and set a $140.00 price objective for the company. in a research note on Tuesday, January 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $166.73.

Insider Buying and Selling at Apple

In other Apple news, CFO Luca Maestri sold 176,299 shares of the business’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $155.95, for a total value of $27,493,829.05. Following the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $17,259,454.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Apple news, CFO Luca Maestri sold 176,299 shares of the business’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $17,259,454.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 20,200 shares of the business’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the sale, the insider now owns 31,505 shares in the company, valued at $4,685,423.60. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Performance

Shares of Apple stock opened at $137.87 on Friday. The firm’s fifty day simple moving average is $138.72 and its 200-day simple moving average is $148.14. The stock has a market capitalization of $2.18 trillion, a price-to-earnings ratio of 22.56, a PEG ratio of 1.74 and a beta of 1.24. Apple Inc. has a 12 month low of $124.17 and a 12 month high of $179.61. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85.

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

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, November 4th. This represents a $0.92 annualized dividend and a yield of 0.67%. Apple’s dividend payout ratio is currently 15.06%.

Apple Company Profile

(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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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