AM Investment Strategies LLC Has $83.45 Million Holdings in Apple Inc. (NASDAQ:AAPL)

AM Investment Strategies LLC trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 358,144 shares of the iPhone maker’s stock after selling 9,504 shares during the period. Apple comprises 20.3% of AM Investment Strategies LLC’s holdings, making the stock its biggest position. AM Investment Strategies LLC’s holdings in Apple were worth $83,447,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bull Oak Capital LLC grew its position in Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after acquiring an additional 111 shares in the last quarter. Hershey Financial Advisers LLC purchased a new position in Apple during the 2nd quarter worth $42,000. Christopher J. Hasenberg Inc grew its holdings in Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares in the last quarter. Cordant Inc. lifted its holdings in Apple by 34.3% during the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after buying an additional 173 shares during the period. Finally, EMC Capital Management boosted its stake in Apple by 7.3% in the third quarter. EMC Capital Management now owns 892 shares of the iPhone maker’s stock valued at $201,000 after acquiring an additional 61 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. UBS Group reissued a “neutral” rating and set a $236.00 target price on shares of Apple in a research report on Monday, December 2nd. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price objective on shares of Apple in a report on Tuesday, December 10th. Oppenheimer reiterated a “buy” rating and set a $250.00 price objective on shares of Apple in a research note on Tuesday, October 1st. KeyCorp lowered shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price on the stock. in a research note on Friday, October 25th. Finally, Maxim Group boosted their target price on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average target price of $238.03.

Apple Trading Down 0.2 %

NASDAQ AAPL opened at $243.36 on Friday. 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 12 month low of $164.07 and a 12 month high of $260.10. The company has a market capitalization of $3.68 trillion, a price-to-earnings ratio of 40.03, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20. The firm’s fifty day moving average price is $238.91 and its 200 day moving average price is $228.87.

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

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid 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 (DPR) is 16.45%.

Insider Transactions at Apple

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