Kornitzer Capital Management Inc. KS Has $103.65 Million Position in Apple Inc. (NASDAQ:AAPL)

Kornitzer Capital Management Inc. KS lessened its stake in Apple Inc. (NASDAQ:AAPL) by 1.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 534,358 shares of the iPhone maker’s stock after selling 5,544 shares during the quarter. Apple comprises about 2.0% of Kornitzer Capital Management Inc. KS’s investment portfolio, making the stock its 2nd largest holding. Kornitzer Capital Management Inc. KS’s holdings in Apple were worth $103,649,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Atlantic Private Wealth LLC acquired a new stake in shares of Apple during the first quarter worth about $30,000. Summit Wealth Group LLC increased its stake in Apple by 16,252.3% during the 1st quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 6,949,659 shares in the last quarter. HBC Financial Services PLLC raised its holdings in Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after buying an additional 80 shares during the period. Clear Perspectives Financial Planning LLC lifted its stake in Apple by 27.3% in the first quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock valued at $172,000 after buying an additional 211 shares in the last quarter. Finally, Magellan Asset Management Ltd boosted its holdings in shares of Apple by 10.6% in the second quarter. Magellan Asset Management Ltd now owns 1,323 shares of the iPhone maker’s stock valued at $181,000 after buying an additional 127 shares during the period. Institutional investors own 58.51% of the company’s stock.

Insider Activity

In other news, CEO Timothy D. Cook sold 240,569 shares of Apple stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $172.50, for a total value of $41,498,152.50. Following the completion of the sale, the chief executive officer now directly owns 3,280,053 shares in the company, valued at $565,809,142.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Apple news, CEO Timothy D. Cook sold 240,569 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $172.50, for a total transaction of $41,498,152.50. Following the completion of the transaction, the chief executive officer now directly owns 3,280,053 shares in the company, valued at $565,809,142.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 123,448 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $188.79, for a total transaction of $23,305,747.92. Following the transaction, the senior vice president now owns 293,266 shares of the company’s stock, valued at $55,365,688.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 567,839 shares of company stock worth $100,675,794. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on AAPL. Jefferies Financial Group cut their price objective on shares of Apple from $220.00 to $195.00 and set a “buy” rating on the stock in a research report on Tuesday, October 31st. Evercore ISI reissued an “outperform” rating and issued a $210.00 price target on shares of Apple in a research note on Thursday, September 28th. Needham & Company LLC reissued a “buy” rating and issued a $195.00 price target on shares of Apple in a research note on Tuesday, October 31st. Wedbush reissued an “outperform” rating and issued a $240.00 price target on shares of Apple in a research note on Wednesday, November 1st. Finally, Rosenblatt Securities dropped their price target on Apple from $198.00 to $189.00 and set a “neutral” rating on the stock in a research note on Friday, November 3rd. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average price target of $198.25.

Apple Trading Up 0.9 %

Shares of NASDAQ:AAPL opened at $191.45 on Tuesday. Apple Inc. has a 12-month low of $124.17 and a 12-month high of $198.23. The stock has a market cap of $2.98 trillion, a PE ratio of 31.28, a P/E/G ratio of 2.60 and a beta of 1.30. The business has a 50 day moving average of $177.15 and a 200-day moving average of $181.03. The company has a quick ratio of 0.94, a current ratio of 0.99 and a debt-to-equity ratio of 1.53.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.07. Apple had a net margin of 25.31% and a return on equity of 160.78%. The company had revenue of $89.50 billion during the quarter, compared to the consensus estimate of $89.34 billion. During the same period in the previous year, the business earned $1.29 earnings per share. The firm’s quarterly revenue was down .7% on a year-over-year basis. As a group, equities research analysts forecast that Apple Inc. will post 6.56 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Monday, November 13th were given a $0.24 dividend. The ex-dividend date was Friday, November 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.50%. Apple’s payout ratio is 15.69%.

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.