Dash Acquisitions Inc. Raises Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Dash Acquisitions Inc. lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 14.2% in the 2nd quarter, Holdings Channel reports. The firm owned 37,260 shares of the iPhone maker’s stock after acquiring an additional 4,638 shares during the period. Apple comprises 2.3% of Dash Acquisitions Inc.’s investment portfolio, making the stock its 17th largest holding. Dash Acquisitions Inc.’s holdings in Apple were worth $8,528,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Yeomans Consulting Group Inc. purchased a new position in shares of Apple during the fourth quarter worth about $1,713,000. Raleigh Capital Management Inc. grew its holdings in shares of Apple by 11.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock worth $2,986,000 after purchasing an additional 1,643 shares in the last quarter. GLOBALT Investments LLC GA purchased a new position in shares of Apple during the fourth quarter worth about $38,406,000. Barden Capital Management Inc. grew its holdings in shares of Apple by 132.8% during the fourth quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock worth $6,283,000 after purchasing an additional 18,615 shares in the last quarter. Finally, Sunpointe LLC purchased a new position in shares of Apple during the fourth quarter worth about $4,782,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Buying and Selling

In related news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Chris Kondo sold 5,178 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The disclosure for this sale can be found here. Insiders have sold a total of 113,884 shares of company stock valued at $23,723,887 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the subject of several recent analyst reports. Citigroup reissued a “buy” rating and set a $255.00 price objective on shares of Apple in a report on Tuesday, August 27th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $265.00 target price on shares of Apple in a research report on Tuesday, September 10th. The Goldman Sachs Group boosted their target price on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Piper Sandler restated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research report on Tuesday, September 10th. Finally, Morgan Stanley restated an “overweight” rating and issued a $273.00 target price on shares of Apple in a research report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $238.62.

Apple Price Performance

Shares of Apple stock opened at $222.50 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The company has a market cap of $3.38 trillion, a PE ratio of 34.60, a P/E/G ratio of 2.62 and a beta of 1.24. The business has a 50 day moving average of $223.14 and a 200 day moving average of $198.63. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.23.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.26 earnings per share. As a group, equities research analysts forecast that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a $0.25 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.45%. Apple’s payout ratio is 15.55%.

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.