Geneva Partners LLC Acquires 2,100 Shares of Apple Inc. (NASDAQ:AAPL)

Geneva Partners LLC lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 65,926 shares of the iPhone maker’s stock after acquiring an additional 2,100 shares during the period. Apple accounts for about 6.5% of Geneva Partners LLC’s investment portfolio, making the stock its largest holding. Geneva Partners LLC’s holdings in Apple were worth $15,126,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Bull Oak Capital LLC raised its position in shares of Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after buying an additional 111 shares during the period. Hershey Financial Advisers LLC purchased a new position in shares of Apple in the 2nd quarter worth $42,000. Christopher J. Hasenberg Inc raised its position in shares of Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after buying an additional 144 shares during the period. Cordant Inc. raised its position in shares of Apple by 34.3% in the 3rd 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 raised its position in shares of Apple by 7.3% in the 3rd quarter. EMC Capital Management now owns 892 shares of the iPhone maker’s stock worth $201,000 after buying an additional 61 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $242.70 on Thursday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $260.10. The stock has a market cap of $3.67 trillion, a price-to-earnings ratio of 39.92, a PEG ratio of 2.41 and a beta of 1.20. The stock’s 50 day moving average price is $239.57 and its 200 day moving average price is $229.66. 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 (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the previous year, the company earned $1.46 earnings per share. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities research analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction that occurred on Monday, November 18th. The shares were 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 approximately $3,528,946.53. The trade was a 21.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the transaction, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on AAPL shares. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price objective on shares of Apple in a research report on Tuesday, December 10th. Citigroup raised their price objective on Apple to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Moffett Nathanson reissued a “sell” rating and issued a $188.00 price objective (down from $202.00) on shares of Apple in a research report on Tuesday. Loop Capital cut their price objective on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, Piper Sandler reissued a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus target price of $237.64.

Apple Company 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.