Keebeck Wealth Management LLC lifted its holdings in Apple Inc. (NASDAQ:AAPL) by 287.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 128,084 shares of the iPhone maker’s stock after purchasing an additional 95,041 shares during the quarter. Apple accounts for approximately 3.1% of Keebeck Wealth Management LLC’s investment portfolio, making the stock its 7th largest position. Keebeck Wealth Management LLC’s holdings in Apple were worth $14,832,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Lountzis Asset Management LLC purchased a new position in shares of Apple in the second quarter valued at $26,000. GW&K Investment Management LLC purchased a new position in shares of Apple in the second quarter valued at $36,000. Fure Financial Corp purchased a new position in shares of Apple in the third quarter valued at $37,000. Ruggie Capital Group purchased a new position in shares of Apple in the third quarter valued at $41,000. Finally, Sage Financial Group Inc. grew its holdings in shares of Apple by 300.0% in the third quarter. Sage Financial Group Inc. now owns 492 shares of the iPhone maker’s stock valued at $57,000 after purchasing an additional 369 shares in the last quarter. 59.65% of the stock is owned by hedge funds and other institutional investors.

AAPL has been the subject of several recent analyst reports. Loop Capital dropped their price objective on shares of Apple from $115.00 to $135.00 and set a “hold” rating for the company in a research note on Monday, October 26th. Morgan Stanley lifted their price objective on shares of Apple from $107.75 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, August 24th. They noted that the move was a valuation call. Wells Fargo & Company raised shares of Apple to a “positive” rating in a research note on Wednesday, October 14th. BidaskClub raised shares of Apple from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Finally, Citigroup boosted their target price on shares of Apple from $112.50 to $125.00 and gave the company a “buy” rating in a research note on Monday, September 21st. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $111.70.

In related news, insider Chris Kondo sold 14,840 shares of the company’s stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $121.34, for a total value of $1,800,685.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Timothy D. Cook sold 265,160 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $496.91, for a total value of $131,760,655.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 828,974 shares of company stock worth $196,862,482. 0.05% of the stock is owned by insiders.

Shares of AAPL stock opened at $117.34 on Friday. Apple Inc. has a fifty-two week low of $53.15 and a fifty-two week high of $137.98. The firm has a market capitalization of $1,994.99 billion, a price-to-earnings ratio of 35.99, a PEG ratio of 2.73 and a beta of 1.36. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.33 and a current ratio of 1.36. The stock’s 50-day simple moving average is $116.43 and its 200-day simple moving average is $103.03.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, November 3rd. The iPhone maker reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.03. Apple had a return on equity of 75.15% and a net margin of 20.91%. The business had revenue of $64.70 billion for the quarter, compared to analyst estimates of $63.33 billion. During the same quarter in the previous year, the firm earned $3.03 earnings per share. The company’s revenue was up 1.0% on a year-over-year basis. As a group, equities analysts forecast that Apple Inc. will post 4.01 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 12th. Investors of record on Monday, November 9th were given a $0.205 dividend. The ex-dividend date of this dividend was Friday, November 6th. This represents a $0.82 dividend on an annualized basis and a yield of 0.70%. Apple’s dividend payout ratio is currently 25.00%.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. 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, HomePod, iPod touch, and other Apple-branded and third-party accessories.

See Also: Cost of Debt

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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