qPULA Trading Management LP Invests $1.34 Million in Apple Inc. (NASDAQ:AAPL)

qPULA Trading Management LP purchased a new position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 7,520 shares of the iPhone maker’s stock, valued at approximately $1,335,000. Apple makes up about 2.4% of qPULA Trading Management LP’s portfolio, making the stock its 2nd largest position.

Other large investors have also recently added to or reduced their stakes in the company. Dark Forest Capital Management LP acquired a new position in shares of Apple during the 3rd quarter worth $29,000. St. James Investment Advisors LLC purchased a new stake in Apple during the 4th quarter worth about $57,000. Econ Financial Services Corp purchased a new stake in Apple during the 4th quarter worth about $58,000. Spence Asset Management purchased a new stake in Apple during the 4th quarter worth about $63,000. Finally, Newfound Research LLC grew its holdings in Apple by 73.1% in the 4th quarter. Newfound Research LLC now owns 940 shares of the iPhone maker’s stock valued at $167,000 after buying an additional 397 shares during the period. 57.98% of the stock is owned by institutional investors and hedge funds.

In related news, SVP Deirdre O’brien sold 29,198 shares of the company’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $177.77, for a total transaction of $5,190,528.46. Following the completion of the transaction, the senior vice president now directly owns 136,290 shares in the company, valued at approximately $24,228,273.30. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Jeffrey E. Williams sold 105,901 shares of the stock in a transaction on Monday, April 4th. The stock was sold at an average price of $177.75, for a total value of $18,823,902.75. Following the completion of the transaction, the chief operating officer now directly owns 489,662 shares of the company’s stock, valued at approximately $87,037,420.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 168,099 shares of company stock valued at $29,376,711. 0.06% of the stock is owned by company insiders.

Several analysts have commented on the company. Barclays set a $170.00 price target on Apple in a report on Wednesday, April 27th. The Goldman Sachs Group restated a “neutral” rating and issued a $157.00 price target on shares of Apple in a report on Monday, May 2nd. Piper Sandler lowered their price target on Apple from $200.00 to $195.00 in a report on Friday, April 29th. StockNews.com began coverage on Apple in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, DA Davidson boosted their target price on Apple from $170.00 to $185.00 in a report on Friday, January 28th. Nine research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $188.39.

AAPL stock opened at $147.11 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 1.53. The firm has a market cap of $2.38 trillion, a P/E ratio of 23.88, a P/E/G ratio of 1.92 and a beta of 1.19. Apple Inc. has a 12-month low of $122.86 and a 12-month high of $182.94. The stock’s 50 day simple moving average is $163.79 and its 200 day simple moving average is $165.41.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The iPhone maker reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.09. The firm had revenue of $97.28 billion during the quarter, compared to the consensus estimate of $93.99 billion. Apple had a return on equity of 152.88% and a net margin of 26.41%. The firm’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.40 EPS. On average, research analysts forecast that Apple Inc. will post 6.11 EPS for the current fiscal year.

Apple announced that its Board of Directors has approved a stock repurchase plan on Thursday, April 28th that authorizes the company to buyback $90.00 billion in shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 12th. Investors of record on Monday, May 9th were paid a dividend of $0.23 per share. This is an increase from Apple’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Friday, May 6th. Apple’s dividend payout ratio is presently 14.94%.

Apple 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; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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