Oak Ridge Investments LLC Has $111.30 Million Stock Holdings in Apple Inc. $AAPL

Oak Ridge Investments LLC increased its position in Apple Inc. (NASDAQ:AAPL) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 542,495 shares of the iPhone maker’s stock after acquiring an additional 5,755 shares during the period. Apple makes up 8.0% of Oak Ridge Investments LLC’s portfolio, making the stock its 3rd biggest position. Oak Ridge Investments LLC’s holdings in Apple were worth $111,304,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. Ryan Investment Management Inc. acquired a new stake in Apple in the 2nd quarter valued at approximately $31,000. ROSS JOHNSON & Associates LLC boosted its position in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 180 shares during the period. Elite Financial Inc. acquired a new position in shares of Apple during the first quarter valued at $58,000. LSV Asset Management acquired a new position in shares of Apple during the fourth quarter valued at $65,000. Finally, HFM Investment Advisors LLC bought a new stake in shares of Apple during the first quarter valued at about $99,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

NASDAQ AAPL opened at $268.47 on Friday. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $277.32. The business’s fifty day moving average is $252.25 and its two-hundred day moving average is $224.71. The stock has a market capitalization of $3.97 trillion, a P/E ratio of 40.74, a P/E/G ratio of 2.62 and a beta of 1.09. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. The business had revenue of $102.47 billion for the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.64 EPS. On average, research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Monday, November 10th will be issued a $0.26 dividend. The ex-dividend date is Monday, November 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s dividend payout ratio is presently 13.92%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Rosenblatt Securities increased their target price on shares of Apple from $241.00 to $250.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Raymond James Financial reiterated an “outperform” rating and issued a $240.00 price objective (up from $230.00) on shares of Apple in a report on Friday, August 1st. Barclays raised their price objective on shares of Apple from $180.00 to $230.00 and gave the company an “underweight” rating in a research note on Friday, October 31st. Argus set a $325.00 target price on Apple and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, DA Davidson increased their price target on Apple from $250.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Three analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $278.22.

Insiders Place Their Bets

In other news, CEO Timothy D. Cook sold 129,963 shares of Apple stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the transaction, the chief executive officer owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 43,013 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total value of $11,071,116.07. Following the transaction, the senior vice president directly owned 136,687 shares in the company, valued at $35,181,866.93. The trade was a 23.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 224,300 shares of company stock worth $57,586,933. 0.06% of the stock is currently owned by corporate insiders.

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.