Orca Investment Management LLC Has $7.99 Million Stake in Apple Inc. (NASDAQ:AAPL)

Orca Investment Management LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 1.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 37,930 shares of the iPhone maker’s stock after selling 468 shares during the period. Apple comprises 7.6% of Orca Investment Management LLC’s portfolio, making the stock its 3rd biggest holding. Orca Investment Management LLC’s holdings in Apple were worth $7,989,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Capital International Investors raised its position in Apple by 7.1% in the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after purchasing an additional 2,474,887 shares in the last quarter. Jennison Associates LLC raised its position in Apple by 1.7% in the first quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock worth $5,061,296,000 after purchasing an additional 485,873 shares in the last quarter. Swedbank AB raised its position in Apple by 13.4% in the second quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after purchasing an additional 2,359,409 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Apple by 16.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,993,042 shares of the iPhone maker’s stock worth $3,085,427,000 after purchasing an additional 2,594,138 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in Apple by 2.5% in the first quarter. Nordea Investment Management AB now owns 17,247,950 shares of the iPhone maker’s stock worth $2,951,297,000 after purchasing an additional 415,186 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 517,924 shares of company stock valued at $114,786,399 over the last three months. 0.06% of the stock is currently owned by corporate insiders.

Apple Price Performance

Shares of AAPL stock opened at $230.57 on Friday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. The stock has a market cap of $3.54 trillion, a PE ratio of 35.86, a PEG ratio of 2.40 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The firm’s 50 day moving average price is $226.64 and its two-hundred day moving average price is $209.48.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 26.44% and a return on equity of 147.15%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $1.26 earnings per share. As a group, analysts forecast that Apple Inc. will post 6.65 EPS for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were given a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. Apple’s dividend payout ratio is 15.55%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Barclays reissued an “underweight” rating and issued a $186.00 price target on shares of Apple in a research report on Tuesday, October 1st. StockNews.com raised shares of Apple from a “hold” rating to a “buy” rating in a report on Tuesday. Maxim Group reaffirmed a “hold” rating and set a $203.00 price objective on shares of Apple in a report on Tuesday, September 10th. Cfra raised their price objective on shares of Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and raised their price objective for the stock from $205.00 to $212.92 in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $237.27.

Apple 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.