Tocqueville Asset Management L.P. Has $158.78 Million Position in Apple Inc. (NASDAQ:AAPL)

Tocqueville Asset Management L.P. boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 708,932 shares of the iPhone maker’s stock after buying an additional 20,043 shares during the quarter. Apple accounts for approximately 2.2% of Tocqueville Asset Management L.P.’s portfolio, making the stock its 3rd biggest holding. Tocqueville Asset Management L.P.’s holdings in Apple were worth $158,779,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in AAPL. Avondale Wealth Management raised its holdings in Apple by 25.4% during the second quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock valued at $63,000 after acquiring an additional 64 shares during the period. NuWave Investment Management LLC boosted its stake in shares of Apple by 2,245.0% in the second quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock worth $93,000 after acquiring an additional 449 shares during the period. Horan Securities Inc. boosted its stake in shares of Apple by 64.2% in the second quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock worth $112,000 after acquiring an additional 221 shares during the period. Belvedere Advisors LLC bought a new position in shares of Apple in the second quarter worth about $119,000. Finally, C M Bidwell & Associates Ltd. grew its position in shares of Apple by 339.1% during the second quarter. C M Bidwell & Associates Ltd. now owns 764 shares of the iPhone maker’s stock worth $151,000 after purchasing an additional 590 shares in the last quarter. Institutional investors own 58.61% of the company’s stock.

In other news, CEO Timothy D. Cook sold 265,160 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $206.17, for a total transaction of $54,668,037.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Arthur D. Levinson sold 17,500 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $201.69, for a total value of $3,529,575.00. Following the sale, the director now owns 1,150,783 shares in the company, valued at approximately $232,101,423.27. The disclosure for this sale can be found here. Insiders have sold 465,658 shares of company stock worth $100,549,205 in the last 90 days. Insiders own 0.05% of the company’s stock.

A number of equities research analysts have issued reports on AAPL shares. Bank of America increased their price objective on shares of Apple from $250.00 to $260.00 and gave the company a “buy” rating in a report on Monday, October 28th. JPMorgan Chase & Co. reissued a “buy” rating and issued a target price on shares of Apple in a report on Thursday, October 31st. Longbow Research raised shares of Apple from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a report on Thursday, October 10th. Wells Fargo & Co raised their target price on shares of Apple from $215.00 to $245.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Finally, New Street Research set a $155.00 target price on shares of Apple and gave the company a “sell” rating in a report on Tuesday, September 10th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $239.51.

NASDAQ AAPL opened at $260.14 on Friday. Apple Inc. has a 52 week low of $142.00 and a 52 week high of $260.44. The firm has a market capitalization of $1,142.50 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 1.83 and a beta of 1.25. The company has a quick ratio of 1.50, a current ratio of 1.54 and a debt-to-equity ratio of 1.01. The company has a fifty day moving average of $235.37 and a two-hundred day moving average of $209.53.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Wednesday, October 30th. The iPhone maker reported $3.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.84 by $0.19. Apple had a return on equity of 53.82% and a net margin of 21.24%. The business had revenue of $64.04 billion for the quarter, compared to analyst estimates of $62.86 billion. During the same quarter in the previous year, the firm earned $2.91 earnings per share. The company’s revenue was up 1.8% on a year-over-year basis. Equities research analysts anticipate that Apple Inc. will post 13.17 EPS for the current year.

The firm 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 dividend on an annualized basis and a dividend yield of 1.18%. Apple’s payout ratio is 25.90%.

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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