Sykon Capital LLC Has $5.19 Million Stake in Apple Inc. (NASDAQ:AAPL)

Sykon Capital LLC raised its stake in Apple Inc. (NASDAQ:AAPL) by 41.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,621 shares of the iPhone maker’s stock after purchasing an additional 7,253 shares during the quarter. Apple accounts for about 2.0% of Sykon Capital LLC’s portfolio, making the stock its 17th biggest position. Sykon Capital LLC’s holdings in Apple were worth $5,186,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Access Investment Management LLC purchased a new position in Apple during the first quarter worth about $140,000. Hoese & Co LLP lifted its position in shares of Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after buying an additional 57 shares in the last quarter. Sage Financial Group Inc. purchased a new position in shares of Apple in the 2nd quarter worth approximately $206,000. Benchmark Wealth Management LLC bought a new position in shares of Apple in the second quarter valued at approximately $208,000. Finally, Sequent Asset Management LLC purchased a new stake in shares of Apple during the second quarter valued at approximately $214,000. Institutional investors own 60.41% of the company’s stock.

Insider Buying and Selling

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The trade was 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, insider Chris Kondo sold 5,178 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 517,924 shares of company stock worth $114,786,399. Insiders own 0.06% of the company’s stock.

Apple Price Performance

NASDAQ:AAPL opened at $230.10 on Thursday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. The stock has a fifty day moving average of $227.23 and a 200 day moving average of $211.59. 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 has a market capitalization of $3.53 trillion, a price-to-earnings ratio of 35.79, a P/E/G ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter last year, the company posted $1.26 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, research analysts expect that Apple Inc. will post 6.65 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on AAPL. Bank of America reissued a “buy” rating and issued a $256.00 price objective on shares of Apple in a research report on Thursday, October 3rd. JPMorgan Chase & Co. restated an “overweight” rating and set a $265.00 price target on shares of Apple in a research report on Tuesday, September 10th. Oppenheimer restated a “buy” rating and set a $250.00 price objective on shares of Apple in a report on Tuesday, October 1st. Loop Capital boosted their target price on shares of Apple to $300.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, Rosenblatt Securities restated a “buy” rating and set a $261.00 price target on shares of Apple in a research note on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $235.91.

About Apple

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.