AMI Investment Management Inc. Has $2.42 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

AMI Investment Management Inc. lowered its stake in Apple Inc. (NASDAQ:AAPL) by 1.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,486 shares of the iPhone maker’s stock after selling 124 shares during the period. AMI Investment Management Inc.’s holdings in Apple were worth $2,419,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in AAPL. Yeomans Consulting Group Inc. bought a new position in shares of Apple during the 4th quarter worth about $1,713,000. Raleigh Capital Management Inc. increased its stake in Apple by 11.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock valued at $2,986,000 after acquiring an additional 1,643 shares during the period. GLOBALT Investments LLC GA acquired a new position in Apple in the 4th quarter valued at approximately $38,406,000. Barden Capital Management Inc. lifted its position in shares of Apple by 132.8% in the 4th quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock worth $6,283,000 after acquiring an additional 18,615 shares during the period. Finally, Sunpointe LLC acquired a new stake in shares of Apple during the 4th quarter worth approximately $4,782,000. Institutional investors own 60.41% of the company’s stock.

Insider Buying and Selling

In other Apple news, 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 value of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. The disclosure for this sale can be found here. Insiders have sold a total of 113,884 shares of company stock valued at $23,723,887 over the last ninety days. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

Shares of Apple stock opened at $233.00 on Tuesday. The company’s 50 day moving average price is $222.37 and its two-hundred day moving average price is $202.80. The firm has a market capitalization of $3.57 trillion, a P/E ratio of 36.24, a P/E/G ratio of 2.66 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The business had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $1.26 EPS. On average, equities analysts forecast that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s payout ratio is 15.55%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on AAPL shares. Morgan Stanley restated an “overweight” rating and issued a $273.00 price objective on shares of Apple in a research note on Tuesday, September 10th. TD Cowen raised their price target on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. DA Davidson upgraded Apple from a “neutral” rating to a “buy” rating and upped their price objective for the company from $200.00 to $230.00 in a research note on Tuesday, June 11th. Sanford C. Bernstein raised their target price on Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Finally, Citigroup reiterated a “buy” rating and issued a $255.00 price target on shares of Apple in a research report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus target price of $238.76.

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.