Advisors Management Group Inc. ADV Has $11.88 Million Position in Apple Inc. (NASDAQ:AAPL)

Advisors Management Group Inc. ADV boosted its position in shares of Apple Inc. (NASDAQ:AAPL) by 7.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,442 shares of the iPhone maker’s stock after acquiring an additional 3,186 shares during the period. Apple accounts for about 2.8% of Advisors Management Group Inc. ADV’s investment portfolio, making the stock its 8th largest position. Advisors Management Group Inc. ADV’s holdings in Apple were worth $11,880,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Bull Oak Capital LLC lifted its stake in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after purchasing an additional 111 shares in the last quarter. Hershey Financial Advisers LLC purchased a new stake in Apple in the 2nd quarter worth about $42,000. Christopher J. Hasenberg Inc increased its stake in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares during the period. SPX Gestao de Recursos Ltda bought a new position in Apple in the 3rd quarter worth about $71,000. Finally, Teachers Insurance & Annuity Association of America bought a new stake in Apple during the 3rd quarter valued at $77,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Trading Down 2.7 %

AAPL opened at $240.36 on Thursday. The stock has a market capitalization of $3.61 trillion, a price-to-earnings ratio of 38.15, a P/E/G ratio of 2.44 and a beta of 1.20. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $260.10. The company has a 50-day simple moving average of $240.10 and a 200 day simple moving average of $233.39.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.42%. Apple’s dividend payout ratio is 15.87%.

Insider Activity at Apple

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Apple in a research report on Wednesday, February 19th. Maxim Group raised their price target on shares of Apple to $215.00 and gave the stock a “hold” rating in a research report on Friday, February 21st. Oppenheimer lowered shares of Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. DA Davidson set a $290.00 price objective on Apple in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. lifted their price objective on Apple from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average target price of $243.88.

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.