Norden Group LLC Boosts Position in Apple Inc. (NASDAQ:AAPL)

Norden Group LLC increased its holdings in Apple Inc. (NASDAQ:AAPL) by 12.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 67,460 shares of the iPhone maker’s stock after purchasing an additional 7,439 shares during the quarter. Apple makes up 2.9% of Norden Group LLC’s investment portfolio, making the stock its 4th biggest holding. Norden Group LLC’s holdings in Apple were worth $14,209,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Access Investment Management LLC bought a new stake in shares of Apple in the 1st quarter valued at $140,000. Hoese & Co LLP lifted its holdings in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after buying an additional 57 shares during the period. Sage Financial Group Inc. bought a new stake in Apple during the second quarter valued at $206,000. Benchmark Wealth Management LLC acquired a new stake in Apple during the 2nd quarter worth about $208,000. Finally, Sequent Asset Management LLC bought a new position in shares of Apple in the 2nd quarter worth about $214,000. 60.41% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 517,924 shares of company stock valued at $114,786,399. 0.06% of the stock is owned by company insiders.

Apple Stock Down 2.2 %

Shares of NASDAQ:AAPL opened at $230.76 on Thursday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The company has a market capitalization of $3.54 trillion, a PE ratio of 35.89, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. The business has a fifty day moving average price of $226.64 and a two-hundred day moving average price of $209.48. 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 (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.06. The company 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 revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.26 earnings per share. Analysts forecast that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Dividend Announcement

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

Wall Street Analysts Forecast Growth

AAPL has been the subject of several recent analyst reports. UBS Group reaffirmed a “hold” rating and set a $236.00 target price on shares of Apple in a research note on Wednesday, October 16th. Melius Research reaffirmed a “buy” rating and set a $265.00 price objective on shares of Apple in a research report on Tuesday, August 27th. Tigress Financial boosted their target price on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. Robert W. Baird raised their price target on shares of Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, KeyCorp reiterated a “hold” rating and set a $247.61 price objective on shares of Apple in a report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $237.27.

Apple Company 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.