Parthenon LLC Acquires 2,580 Shares of Apple Inc. (NASDAQ:AAPL)

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Parthenon LLC boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 8.4% in the 3rd quarter, Holdings Channel reports. The firm owned 33,471 shares of the iPhone maker’s stock after buying an additional 2,580 shares during the period. Apple accounts for about 1.6% of Parthenon LLC’s holdings, making the stock its 24th largest position. Parthenon LLC’s holdings in Apple were worth $7,496,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AAPL. Centaurus Financial Inc. increased its holdings in Apple by 17.9% in the first quarter. Centaurus Financial Inc. now owns 8,318 shares of the iPhone maker’s stock valued at $44,000 after purchasing an additional 1,262 shares during the period. Avondale Wealth Management increased its holdings in Apple by 25.4% in the second quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock valued at $63,000 after purchasing an additional 64 shares during the period. NuWave Investment Management LLC increased its holdings in Apple by 2,245.0% in the second quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock valued at $93,000 after purchasing an additional 449 shares during the period. Horan Securities Inc. increased its holdings in Apple by 64.2% in the second quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock valued at $112,000 after purchasing an additional 221 shares during the period. Finally, Belvedere Advisors LLC acquired a new stake in Apple in the second quarter valued at $119,000. Hedge funds and other institutional investors own 58.61% of the company’s stock.

Shares of AAPL opened at $260.14 on Friday. Apple Inc. has a one year low of $142.00 and a one year high of $260.44. The stock has a 50-day moving average of $235.37 and a 200-day moving average of $209.53. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.54 and a quick ratio of 1.50. The company has a market cap of $1,142.50 billion, a PE ratio of 21.88, a P/E/G ratio of 1.83 and a beta of 1.25.

Apple (NASDAQ:AAPL) last posted its earnings results on Wednesday, October 30th. The iPhone maker reported $3.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.84 by $0.19. Apple had a net margin of 21.24% and a return on equity of 53.82%. The firm had revenue of $64.04 billion for the quarter, compared to analysts’ expectations of $62.86 billion. During the same quarter last year, the firm earned $2.91 EPS. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. Analysts expect that Apple Inc. will post 13.17 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $3.08 annualized dividend and a dividend yield of 1.18%. Apple’s payout ratio is currently 25.90%.

In other news, Director Arthur D. Levinson sold 37,394 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $257.79, for a total transaction of $9,639,799.26. Following the completion of the sale, the director now owns 1,170,677 shares in the company, valued at approximately $301,788,823.83. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Arthur D. Levinson sold 17,500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $201.69, for a total transaction of $3,529,575.00. Following the sale, the director now owns 1,150,783 shares of the company’s stock, valued at approximately $232,101,423.27. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 465,658 shares of company stock valued at $100,549,205. 0.05% of the stock is currently owned by company insiders.

A number of analysts recently weighed in on the company. Longbow Research upgraded Apple from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a report on Thursday, October 10th. HSBC set a $190.00 price objective on Apple and gave the company a “sell” rating in a report on Thursday, September 26th. Daiwa Capital Markets set a $223.00 price objective on Apple and gave the company a “buy” rating in a report on Wednesday, August 7th. Rosenblatt Securities set a $150.00 price objective on Apple and gave the company a “sell” rating in a report on Friday, September 13th. Finally, JPMorgan Chase & Co. restated a “buy” rating and issued a price objective on shares of Apple in a report on Thursday, October 31st. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Apple currently has a consensus rating of “Hold” and a consensus target price of $239.51.

About Apple

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

Further Reading: Book Value Of Equity Per Share – BVPS Explained

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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