Sittner & Nelson LLC Buys 98,690 Shares of Apple Inc. (NASDAQ:AAPL)

Sittner & Nelson LLC increased its stake in Apple Inc. (NASDAQ:AAPL) by 288.6% during the first quarter, HoldingsChannel.com reports. The fund owned 132,882 shares of the iPhone maker’s stock after buying an additional 98,690 shares during the period. Apple makes up approximately 12.1% of Sittner & Nelson LLC’s holdings, making the stock its 2nd biggest position. Sittner & Nelson LLC’s holdings in Apple were worth $16,232,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of AAPL. Clear Perspectives Financial Planning LLC purchased a new position in shares of Apple during the fourth quarter valued at $27,000. EMC Capital Management purchased a new position in shares of Apple during the fourth quarter valued at $80,000. Lloyd Advisory Services LLC. grew its holdings in shares of Apple by 20.1% during the fourth quarter. Lloyd Advisory Services LLC. now owns 760 shares of the iPhone maker’s stock valued at $101,000 after buying an additional 127 shares in the last quarter. Hoese & Co LLP purchased a new position in shares of Apple during the fourth quarter valued at $106,000. Finally, Itau Unibanco Holding S.A. grew its holdings in shares of Apple by 9,693.5% during the fourth quarter. Itau Unibanco Holding S.A. now owns 7,778,120 shares of the iPhone maker’s stock valued at $123,000 after buying an additional 7,698,699 shares in the last quarter. Institutional investors and hedge funds own 56.33% of the company’s stock.

In other news, SVP Deirdre O’brien sold 18,216 shares of the company’s stock in a transaction that occurred on Friday, April 16th. The stock was sold at an average price of $134.01, for a total value of $2,441,126.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 133,867 shares of the company’s stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $125.74, for a total value of $16,832,436.58. The disclosure for this sale can be found here. Insiders have sold 290,155 shares of company stock worth $37,610,735 over the last 90 days. Corporate insiders own 0.06% of the company’s stock.

A number of brokerages have commented on AAPL. Needham & Company LLC restated a “buy” rating and issued a $170.00 target price on shares of Apple in a research note on Wednesday, April 21st. UBS Group set a $155.00 target price on Apple and gave the company a “buy” rating in a research note on Thursday, May 20th. Raymond James boosted their target price on Apple from $160.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, April 29th. Canaccord Genuity boosted their target price on Apple from $155.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, May 5th. Finally, Monness Crespi & Hardt boosted their target price on Apple from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, April 29th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $148.91.

Shares of AAPL opened at $126.11 on Friday. Apple Inc. has a 12-month low of $83.14 and a 12-month high of $145.09. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 1.57. The company has a market capitalization of $2.10 trillion, a price-to-earnings ratio of 28.31, a price-to-earnings-growth ratio of 1.91 and a beta of 1.21. The firm’s 50-day moving average price is $128.66.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, April 27th. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.41. Apple had a return on equity of 111.80% and a net margin of 23.45%. The firm had revenue of $89.58 billion for the quarter, compared to analyst estimates of $76.84 billion. During the same period in the previous year, the company posted $0.64 earnings per share. The company’s quarterly revenue was up 53.6% compared to the same quarter last year. On average, equities research analysts expect that Apple Inc. will post 5.17 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, May 13th. Investors of record on Monday, May 10th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.70%. This is a positive change from Apple’s previous quarterly dividend of $0.21. The ex-dividend date was Friday, May 7th. Apple’s payout ratio is currently 26.83%.

Apple Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. 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, HomePod, iPod touch, and other Apple-branded and third-party accessories.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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