Apple Inc. (NASDAQ:AAPL) Shares Bought by GM Advisory Group LLC

GM Advisory Group LLC lifted its holdings in Apple Inc. (NASDAQ:AAPL) by 1.2% during the 2nd quarter, Holdings Channel reports. The fund owned 206,043 shares of the iPhone maker’s stock after acquiring an additional 2,530 shares during the quarter. Apple makes up approximately 2.8% of GM Advisory Group LLC’s portfolio, making the stock its 9th biggest position. GM Advisory Group LLC’s holdings in Apple were worth $43,397,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Verus Financial Partners Inc. boosted its stake in Apple by 0.3% in the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after purchasing an additional 48 shares during the period. Brown Financial Advisory lifted its holdings in shares of Apple by 3.8% in the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after purchasing an additional 50 shares in the last quarter. Core Wealth Management Inc. lifted its holdings in shares of Apple by 1.7% in the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after purchasing an additional 50 shares in the last quarter. Lowery Thomas LLC boosted its position in shares of Apple by 0.7% during the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after buying an additional 50 shares during the period. Finally, Klein Pavlis & Peasley Financial Inc. grew its holdings in shares of Apple by 1.1% during the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after buying an additional 51 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. UBS Group restated a “hold” rating and issued a $236.00 target price on shares of Apple in a research note on Wednesday, October 16th. Monness Crespi & Hardt restated a “buy” rating and set a $245.00 target price on shares of Apple in a report on Monday, September 9th. Moffett Nathanson assumed coverage on shares of Apple in a research report on Monday, August 19th. They issued a “neutral” rating and a $211.00 target price for the company. Jefferies Financial Group cut shares of Apple from a “buy” rating to a “hold” rating and boosted their price target for the stock from $205.00 to $212.92 in a research report on Monday, October 7th. Finally, Loop Capital decreased their price objective on Apple from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.51.

Apple Price Performance

Shares of NASDAQ AAPL opened at $227.48 on Friday. The firm has a market cap of $3.44 trillion, a P/E ratio of 37.41, a price-to-earnings-growth ratio of 2.18 and a beta of 1.24. The business’s 50 day moving average is $226.91 and its 200-day moving average is $213.51. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. 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, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.46 EPS. Equities research analysts predict that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Insiders Place Their Bets

In other news, 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 value of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. 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 news, CFO Luca Maestri sold 59,305 shares of the stock in a transaction on Friday, October 4th. The stock was 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 of the company’s stock, valued at approximately $24,416,137.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 412,746 shares of company stock worth $93,021,362 in the last quarter. Corporate insiders own 0.06% of the company’s stock.

About Apple

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.