Midwest Heritage Bank FSB Invests $315,000 in Apple Inc. (NASDAQ:AAPL)

Midwest Heritage Bank FSB bought a new stake in Apple Inc. (NASDAQ:AAPL) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,495 shares of the iPhone maker’s stock, valued at approximately $315,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Apple by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after acquiring an additional 18,067,216 shares in the last quarter. Norges Bank acquired a new stake in Apple during the fourth quarter valued at approximately $33,912,466,000. Wellington Management Group LLP boosted its stake in Apple by 3.6% in the 4th quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock valued at $11,677,190,000 after buying an additional 2,096,360 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Apple by 2.0% in the 4th quarter. Fisher Asset Management LLC now owns 54,702,300 shares of the iPhone maker’s stock valued at $10,531,834,000 after purchasing an additional 1,067,587 shares in the last quarter. Finally, Capital International Investors grew its stake in Apple by 7.1% during the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after buying an additional 2,474,887 shares during the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Loop Capital upgraded Apple from a “hold” rating to a “buy” rating and increased their price target for the stock from $170.00 to $300.00 in a research report on Monday, July 15th. Evercore ISI restated an “outperform” rating and set a $250.00 target price on shares of Apple in a report on Tuesday, August 27th. Morgan Stanley reiterated an “overweight” rating and set a $273.00 price target on shares of Apple in a research report on Tuesday. Rosenblatt Securities restated a “buy” rating and issued a $261.00 price objective on shares of Apple in a research report on Tuesday. Finally, Sanford C. Bernstein upped their target price on shares of Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $238.62.

Insider Buying and Selling

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

Apple Trading Up 0.0 %

NASDAQ AAPL opened at $222.77 on Friday. Apple Inc. has a one year low of $164.07 and a one year high of $237.23. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The firm has a market cap of $3.42 trillion, a P/E ratio of 34.65, a P/E/G ratio of 2.60 and a beta of 1.24. The stock’s 50-day moving average is $223.22 and its 200-day moving average is $198.23.

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

Apple Announces Dividend

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

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.