Quadrant Capital Group LLC Has $85.92 Million Stake in Apple Inc. $AAPL

Quadrant Capital Group LLC raised its position in Apple Inc. (NASDAQ:AAPL) by 1.6% during the second quarter, Holdings Channel.com reports. The institutional investor owned 418,763 shares of the iPhone maker’s stock after purchasing an additional 6,676 shares during the quarter. Apple accounts for 3.1% of Quadrant Capital Group LLC’s investment portfolio, making the stock its 4th largest holding. Quadrant Capital Group LLC’s holdings in Apple were worth $85,918,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Baker Boyer National Bank boosted its stake in Apple by 0.3% in the second quarter. Baker Boyer National Bank now owns 18,011 shares of the iPhone maker’s stock worth $3,695,000 after purchasing an additional 47 shares in the last quarter. Salus Financial Advisors LLC increased its stake in shares of Apple by 3.9% in the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock valued at $291,000 after buying an additional 49 shares in the last quarter. Red Tortoise LLC raised its holdings in shares of Apple by 0.9% in the second quarter. Red Tortoise LLC now owns 5,717 shares of the iPhone maker’s stock valued at $1,173,000 after buying an additional 49 shares during the last quarter. SigFig Wealth Management LLC lifted its position in Apple by 2.8% during the 2nd quarter. SigFig Wealth Management LLC now owns 1,830 shares of the iPhone maker’s stock worth $368,000 after buying an additional 50 shares in the last quarter. Finally, Shariaportfolio Inc. grew its holdings in Apple by 1.3% during the 2nd quarter. Shariaportfolio Inc. now owns 3,999 shares of the iPhone maker’s stock worth $820,000 after acquiring an additional 50 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity

In other news, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the transaction, the senior vice president directly owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Deirdre O’brien sold 43,013 shares of the business’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the completion of the transaction, the senior vice president directly owned 136,687 shares of the company’s stock, valued at $35,181,866.93. This trade represents a 23.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 228,052 shares of company stock valued at $58,604,588. 0.06% of the stock is currently owned by company insiders.

Apple Stock Up 0.6%

NASDAQ:AAPL opened at $278.78 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 1.06. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $288.62. The stock’s fifty day simple moving average is $267.42 and its 200-day simple moving average is $235.90. The firm has a market capitalization of $4.12 trillion, a P/E ratio of 37.32, a P/E/G ratio of 2.59 and a beta of 1.10.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.11. Apple had a return on equity of 164.05% and a net margin of 26.92%.The firm had revenue of $102.47 billion for the quarter, compared to analyst estimates of $101.65 billion. During the same quarter in the prior year, the firm posted $1.64 earnings per share. The company’s quarterly revenue was up 8.7% on a year-over-year basis. Equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, November 10th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, November 10th. Apple’s dividend payout ratio (DPR) is currently 13.92%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AAPL shares. Morgan Stanley boosted their target price on shares of Apple from $298.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Cowen restated a “buy” rating on shares of Apple in a research report on Monday, October 27th. Melius Research set a $345.00 price objective on Apple in a report on Friday, October 31st. Wall Street Zen cut Apple from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Finally, Jefferies Financial Group upgraded Apple from an “underperform” rating to a “hold” rating and boosted their target price for the stock from $203.07 to $246.99 in a research report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $282.51.

About Apple

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.