Hutchens & Kramer Investment Management Group LLC Has $2.77 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Hutchens & Kramer Investment Management Group LLC grew its holdings in Apple Inc. (NASDAQ:AAPL) by 19.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,246 shares of the iPhone maker’s stock after acquiring an additional 2,000 shares during the period. Apple accounts for approximately 1.5% of Hutchens & Kramer Investment Management Group LLC’s holdings, making the stock its 15th largest position. Hutchens & Kramer Investment Management Group LLC’s holdings in Apple were worth $2,770,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. China Universal Asset Management Co. Ltd. boosted its position in Apple by 127.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock worth $12,943,000 after purchasing an additional 42,282 shares during the period. Addison Capital Co lifted its stake in shares of Apple by 4.6% in the first quarter. Addison Capital Co now owns 27,345 shares of the iPhone maker’s stock worth $4,689,000 after buying an additional 1,208 shares during the last quarter. SP Asset Management LLC boosted its holdings in shares of Apple by 0.6% during the 1st quarter. SP Asset Management LLC now owns 193,732 shares of the iPhone maker’s stock worth $33,221,000 after buying an additional 1,125 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund grew its stake in Apple by 3.1% in the 1st quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 553,963 shares of the iPhone maker’s stock valued at $94,994,000 after buying an additional 16,694 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its holdings in Apple by 2.0% in the 1st quarter. Avantax Advisory Services Inc. now owns 850,135 shares of the iPhone maker’s stock worth $145,781,000 after acquiring an additional 16,495 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Up 0.0 %

Shares of AAPL opened at $243.04 on Friday. The company has a market capitalization of $3.67 trillion, a P/E ratio of 39.97, a PEG ratio of 2.38 and a beta of 1.23. Apple Inc. has a one year low of $164.07 and a one year high of $244.54. The business’s 50 day simple moving average is $230.23 and its 200-day simple moving average is $221.05. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 EPS. As a group, sell-side analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Insider Buying and Selling at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of the company’s 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 transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Luca Maestri sold 59,305 shares of the firm’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 completion of the sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This represents a 35.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AAPL. Evercore ISI reaffirmed a “buy” rating and issued a $250.00 price target on shares of Apple in a research report on Thursday, September 26th. Moffett Nathanson lowered their target price on Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a report on Tuesday, November 19th. Loop Capital cut their price target on Apple from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, November 4th. Morgan Stanley restated an “overweight” rating and issued a $273.00 price objective on shares of Apple in a research note on Monday, November 25th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $265.00 target price on shares of Apple in a research note on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $235.68.

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.