Apple Inc. (NASDAQ:AAPL) Position Increased by Sitrin Capital Management LLC

Sitrin Capital Management LLC grew its stake in Apple Inc. (NASDAQ:AAPL) by 31.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,501 shares of the iPhone maker’s stock after buying an additional 11,936 shares during the period. Apple accounts for 5.9% of Sitrin Capital Management LLC’s holdings, making the stock its biggest position. Sitrin Capital Management LLC’s holdings in Apple were worth $11,767,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Values Added Financial LLC boosted its holdings in shares of Apple by 0.3% in the 3rd quarter. Values Added Financial LLC now owns 26,561 shares of the iPhone maker’s stock valued at $6,189,000 after acquiring an additional 87 shares during the last quarter. Lebenthal Global Advisors LLC raised its position in Apple by 0.4% during the third quarter. Lebenthal Global Advisors LLC now owns 49,489 shares of the iPhone maker’s stock valued at $11,531,000 after acquiring an additional 213 shares in the last quarter. Sensible Financial Planning & Management LLC. acquired a new position in Apple in the third quarter valued at approximately $1,577,000. Valued Wealth Advisors LLC boosted its position in Apple by 12.2% in the 3rd quarter. Valued Wealth Advisors LLC now owns 3,933 shares of the iPhone maker’s stock worth $916,000 after purchasing an additional 429 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV grew its stake in shares of Apple by 2.7% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 120,926 shares of the iPhone maker’s stock worth $28,176,000 after purchasing an additional 3,125 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on AAPL shares. Loop Capital lowered their price target on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Barclays dropped their target price on Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, November 1st. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. Monness Crespi & Hardt reiterated a “buy” rating and set a $245.00 price target on shares of Apple in a research report on Monday, September 9th. Finally, Sanford C. Bernstein boosted their price objective on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $238.03.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the transaction, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $243.36 on Friday. The company’s 50-day moving average is $238.68 and its two-hundred day moving average is $228.69. The firm has a market capitalization of $3.68 trillion, a price-to-earnings ratio of 40.03, a PEG ratio of 2.41 and a beta of 1.20. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10.

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

Apple Announces Dividend

The firm also recently declared 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%.

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.