Apple Inc. (NASDAQ:AAPL) Shares Acquired by Bruce & Co. Inc.

Bruce & Co. Inc. lifted its position in Apple Inc. (NASDAQ:AAPL) by 13.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,700 shares of the iPhone maker’s stock after acquiring an additional 4,600 shares during the period. Apple accounts for approximately 2.8% of Bruce & Co. Inc.’s investment portfolio, making the stock its 12th biggest holding. Bruce & Co. Inc.’s holdings in Apple were worth $8,362,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AAPL. Fidelis Capital Partners LLC boosted its holdings in shares of Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after acquiring an additional 31,278 shares during the last quarter. Access Investment Management LLC purchased a new stake in Apple in the first quarter valued at $140,000. Hoese & Co LLP grew its position in Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the period. Sage Financial Group Inc. purchased a new position in shares of Apple during the 2nd quarter valued at about $206,000. Finally, Benchmark Wealth Management LLC acquired a new position in shares of Apple in the 2nd quarter valued at about $208,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Price Performance

AAPL stock opened at $222.91 on Friday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The firm has a market capitalization of $3.39 trillion, a PE ratio of 33.93, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. The business has a 50 day simple moving average of $227.18 and a 200-day simple moving average of $212.33.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.15. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same period in the prior year, the business earned $1.46 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. Equities research analysts anticipate that Apple Inc. will post 6.6 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Friday, November 8th. Apple’s payout ratio is currently 15.22%.

Analysts Set New Price Targets

Several analysts recently commented on AAPL shares. TD Cowen raised their target price on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Maxim Group raised their price objective on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday. The Goldman Sachs Group boosted their target price on shares of Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Raymond James raised their price target on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, New Street Research reiterated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research report on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $236.23.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 100,000 shares of the 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 owns 191,543 shares of the company’s stock, valued at $39,542,136.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 transaction of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the transaction, the chief operating officer now owns 489,944 shares of the company’s stock, valued at $111,148,695.84. 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 517,924 shares of company stock valued at $114,786,399 over the last ninety days. Company 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.