Apple Inc. (NASDAQ:AAPL) is GSG Advisors LLC’s 3rd Largest Position

GSG Advisors LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 1.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,800 shares of the iPhone maker’s stock after selling 1,919 shares during the period. Apple makes up 7.9% of GSG Advisors LLC’s investment portfolio, making the stock its 3rd biggest holding. GSG Advisors LLC’s holdings in Apple were worth $22,282,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Christopher J. Hasenberg Inc purchased a new position in shares of Apple during the 1st quarter valued at $35,000. Fidelis Capital Partners LLC grew its position in shares of Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after purchasing an additional 31,278 shares in the last quarter. A.P. Gilfoyle & Co. L.P. purchased a new position in shares of Apple during the 4th quarter valued at $39,000. University of Texas Texas AM Investment Managment Co. grew its position in shares of Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after purchasing an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. purchased a new position in shares of Apple during the 4th quarter valued at $85,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AAPL shares. Rosenblatt Securities boosted their price target on shares of Apple from $260.00 to $261.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Oppenheimer upped their target price on shares of Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, June 28th. Loop Capital upgraded shares of Apple from a “hold” rating to a “buy” rating and upped their target price for the stock from $170.00 to $300.00 in a research report on Monday, July 15th. Bank of America reiterated a “buy” rating and issued a $256.00 target price on shares of Apple in a research report on Tuesday, August 27th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $250.00 target price on shares of Apple in a research report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $238.62.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $220.85 on Thursday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23. The company has a market cap of $3.39 trillion, a price-to-earnings ratio of 34.35, a price-to-earnings-growth ratio of 2.69 and a beta of 1.24. The company has a 50-day moving average price of $222.72 and a 200-day moving average price of $196.70. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. During the same period in the prior year, the firm earned $1.26 earnings per share. Apple’s revenue was up 4.9% on a year-over-year basis. As a group, equities analysts anticipate that Apple Inc. will post 6.7 EPS for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Monday, August 12th. Apple’s payout ratio is currently 15.55%.

Insider Buying and Selling

In related news, insider Chris Kondo sold 8,706 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,469,275. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Apple news, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the sale, the insider now owns 15,419 shares in the company, valued at $3,469,275. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Insiders sold a total of 113,884 shares of company stock valued at $23,723,887 over the last three months. Corporate insiders own 0.06% of the company’s stock.

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.