Apple Inc. $AAPL is SeaBridge Investment Advisors LLC’s 3rd Largest Position

SeaBridge Investment Advisors LLC increased its position in Apple Inc. (NASDAQ:AAPL) by 1.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 80,939 shares of the iPhone maker’s stock after purchasing an additional 1,236 shares during the period. Apple makes up 3.1% of SeaBridge Investment Advisors LLC’s holdings, making the stock its 3rd biggest holding. SeaBridge Investment Advisors LLC’s holdings in Apple were worth $16,606,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in AAPL. Ryan Investment Management Inc. purchased a new position in shares of Apple in the second quarter worth $31,000. ROSS JOHNSON & Associates LLC increased its stake in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after buying an additional 180 shares during the period. Elite Financial Inc. purchased a new position in shares of Apple in the first quarter worth $58,000. LSV Asset Management purchased a new position in shares of Apple in the fourth quarter worth $65,000. Finally, HFM Investment Advisors LLC purchased a new position in shares of Apple in the first quarter worth $99,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction on Thursday, October 2nd. The stock was 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 of the company’s stock, valued at approximately $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction 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 sale, the chief executive officer directly owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. This represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 254,922 shares of company stock valued at $64,320,190. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the topic of several research analyst reports. Melius Research set a $290.00 target price on Apple and gave the company a “buy” rating in a research note on Wednesday, September 10th. Seaport Res Ptn raised Apple to a “strong-buy” rating in a research note on Wednesday, October 1st. Loop Capital reduced their target price on Apple from $230.00 to $226.00 and set a “hold” rating on the stock in a research note on Thursday, August 21st. Sanford C. Bernstein initiated coverage on Apple in a research note on Monday, September 15th. They set an “outperform” rating and a $290.00 target price on the stock. Finally, UBS Group reissued a “neutral” rating on shares of Apple in a research note on Monday, September 8th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $248.29.

Apple Price Performance

Shares of AAPL stock opened at $245.27 on Monday. The stock has a market cap of $3.64 trillion, a price-to-earnings ratio of 37.22, a PEG ratio of 2.39 and a beta of 1.09. The business’s fifty day moving average is $237.61 and its 200 day moving average is $215.83. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.14. The company had revenue of $94.04 billion for the quarter, compared to analysts’ expectations of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.40 earnings per share. Research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid a $0.26 dividend. 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, August 11th. Apple’s dividend payout ratio is currently 15.78%.

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.