Terra Nova Asset Management LLC Buys 7,081 Shares of Apple Inc. (NASDAQ:AAPL)

Terra Nova Asset Management LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 100.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 14,148 shares of the iPhone maker’s stock after acquiring an additional 7,081 shares during the period. Apple makes up about 2.4% of Terra Nova Asset Management LLC’s holdings, making the stock its 11th largest holding. Terra Nova Asset Management LLC’s holdings in Apple were worth $3,296,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Verus Financial Partners Inc. boosted its position in shares of Apple by 0.3% in the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after purchasing an additional 48 shares during the last quarter. Brown Financial Advisory boosted its position in shares of Apple by 3.8% in the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after purchasing an additional 50 shares during the last quarter. Core Wealth Management Inc. boosted its position in shares of Apple by 1.7% in the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after purchasing an additional 50 shares during the last quarter. Lowery Thomas LLC boosted its position in shares of Apple by 0.7% in the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after purchasing an additional 50 shares during the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. boosted its position in shares of Apple by 1.1% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after purchasing an additional 51 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

Apple Price Performance

Shares of NASDAQ AAPL opened at $242.84 on Friday. The business’s 50 day moving average price is $230.53 and its two-hundred day moving average price is $221.62. The company has a market cap of $3.67 trillion, a PE ratio of 39.94, a price-to-earnings-growth ratio of 2.38 and a beta of 1.23. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $244.63.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the previous year, the company posted $1.46 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. On average, analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio is presently 16.45%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Evercore ISI restated a “buy” rating and issued a $250.00 price target on shares of Apple in a research report on Thursday, September 26th. Barclays reduced their price target on Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, November 1st. Loop Capital reduced their target price on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Jefferies Financial Group lowered Apple from a “buy” rating to a “hold” rating and lifted their target price for the stock from $205.00 to $212.92 in a report on Monday, October 7th. Finally, Moffett Nathanson reduced their target price on Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a report on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $235.68.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 408,170 shares of company stock worth $92,007,745 over the last quarter. Company insiders own 0.06% of the company’s stock.

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.