Eldridge Investment Advisors Inc. Has $5.31 Million Stake in Apple Inc. (NASDAQ:AAPL)

Eldridge Investment Advisors Inc. grew its stake in Apple Inc. (NASDAQ:AAPL) by 3.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,195 shares of the iPhone maker’s stock after acquiring an additional 871 shares during the quarter. Apple accounts for 1.3% of Eldridge Investment Advisors Inc.’s holdings, making the stock its 19th biggest position. Eldridge Investment Advisors Inc.’s holdings in Apple were worth $5,307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings 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 purchasing an additional 18,067,216 shares in the last quarter. Capital International Investors increased its stake in Apple by 7.1% during the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after purchasing an additional 2,474,887 shares in the last quarter. Jennison Associates LLC lifted its stake in Apple by 1.7% in the first quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock valued at $5,061,296,000 after buying an additional 485,873 shares in the last quarter. Swedbank AB lifted its stake in Apple by 13.4% in the second quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock valued at $4,214,222,000 after buying an additional 2,359,409 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Apple by 16.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,993,042 shares of the iPhone maker’s stock valued at $3,085,427,000 after buying an additional 2,594,138 shares during the period. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AAPL shares. Jefferies Financial Group cut shares of Apple from a “buy” rating to a “hold” rating and boosted their price objective for the company from $205.00 to $212.92 in a research report on Monday, October 7th. Raymond James upped their price objective on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Wedbush restated an “outperform” rating and issued a $285.00 target price on shares of Apple in a research note on Monday, September 9th. Finally, Cfra raised their price target on shares of Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $239.27.

Apple Price Performance

Shares of NASDAQ AAPL opened at $233.85 on Wednesday. The firm has a market cap of $3.59 trillion, a P/E ratio of 36.37, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. The business’s 50 day moving average is $224.59 and its 200-day moving average is $207.04. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share 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 analysts’ expectations of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.26 EPS. Equities research analysts predict that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Announces Dividend

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

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, August 5th. The shares were 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 directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction 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 owns 191,543 shares in the company, valued at $39,542,136.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 517,924 shares of company stock worth $114,786,399 in the last quarter. Corporate insiders own 0.06% of the company’s stock.

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.