Steigerwald Gordon & Koch Inc. Has $43.07 Million Position in Apple Inc. (NASDAQ:AAPL)

Steigerwald Gordon & Koch Inc. cut its holdings in Apple Inc. (NASDAQ:AAPL) by 0.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 204,467 shares of the iPhone maker’s stock after selling 1,449 shares during the quarter. Apple accounts for approximately 5.2% of Steigerwald Gordon & Koch Inc.’s holdings, making the stock its largest position. Steigerwald Gordon & Koch Inc.’s holdings in Apple were worth $43,065,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AAPL. Pacifica Partners Inc. raised its position in Apple by 8.4% in the 1st quarter. Pacifica Partners Inc. now owns 62,999 shares of the iPhone maker’s stock worth $10,755,000 after buying an additional 4,894 shares during the last quarter. Perkins Coie Trust Co grew its stake in shares of Apple by 0.7% in the first quarter. Perkins Coie Trust Co now owns 100,853 shares of the iPhone maker’s stock worth $17,294,000 after acquiring an additional 741 shares during the period. Doliver Advisors LP grew its stake in shares of Apple by 5.0% in the first quarter. Doliver Advisors LP now owns 25,688 shares of the iPhone maker’s stock worth $4,405,000 after acquiring an additional 1,222 shares during the period. Whitaker Myers Wealth Managers LTD. raised its holdings in shares of Apple by 20.5% during the first quarter. Whitaker Myers Wealth Managers LTD. now owns 14,097 shares of the iPhone maker’s stock valued at $2,417,000 after purchasing an additional 2,399 shares during the last quarter. Finally, Capital Planning LLC lifted its position in Apple by 9.0% during the first quarter. Capital Planning LLC now owns 23,866 shares of the iPhone maker’s stock valued at $4,092,000 after purchasing an additional 1,966 shares during the period. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and boosted their target price for the company from $205.00 to $212.92 in a research note on Monday, October 7th. UBS Group reiterated a “hold” rating and set a $236.00 price objective on shares of Apple in a research report on Wednesday, October 16th. Raymond James boosted their price target on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective on the stock. in a research note on Friday. Finally, Melius Research restated a “buy” rating and set a $265.00 target price on shares of Apple in a research report on Tuesday, August 27th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $235.91.

Apple Price Performance

NASDAQ:AAPL opened at $231.41 on Monday. The company has a market capitalization of $3.55 trillion, a P/E ratio of 35.99, a P/E/G ratio of 2.40 and a beta of 1.24. The business’s 50-day moving average is $226.86 and its 200 day moving average is $210.64. 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 12 month low of $164.07 and a 12 month high of $237.49.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. The business 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 revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.26 EPS. On average, equities research analysts forecast that Apple Inc. will post 6.65 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated 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 directly 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred 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 approximately $736,269,202.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Luca Maestri sold 59,305 shares of the business’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 value of $13,433,768.60. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold 517,924 shares of company stock valued at $114,786,399 in the last three months. 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.