Bridges Investment Management Inc. Has $378.77 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Bridges Investment Management Inc. boosted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 99.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,798,340 shares of the iPhone maker’s stock after purchasing an additional 896,810 shares during the quarter. Apple comprises approximately 5.8% of Bridges Investment Management Inc.’s investment portfolio, making the stock its 3rd biggest position. Bridges Investment Management Inc.’s holdings in Apple were worth $378,766,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Callan Capital LLC raised its stake in Apple by 3.3% in the second quarter. Callan Capital LLC now owns 143,851 shares of the iPhone maker’s stock valued at $30,298,000 after purchasing an additional 4,544 shares in the last quarter. Promethos Capital LLC acquired a new position in Apple during the second quarter worth about $7,740,000. Canada Pension Plan Investment Board grew its holdings in shares of Apple by 2.0% during the second quarter. Canada Pension Plan Investment Board now owns 11,759,611 shares of the iPhone maker’s stock worth $2,476,809,000 after purchasing an additional 227,173 shares during the last quarter. Davidson Capital Management Inc. grew its holdings in shares of Apple by 13.1% during the second quarter. Davidson Capital Management Inc. now owns 16,557 shares of the iPhone maker’s stock worth $3,487,000 after purchasing an additional 1,922 shares during the last quarter. Finally, Granite Investment Partners LLC grew its holdings in shares of Apple by 2.7% during the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after purchasing an additional 7,606 shares during the last quarter. 60.41% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Timothy D. Cook sold 223,986 shares of the 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 directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Timothy D. Cook sold 223,986 shares of the 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 transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at $24,416,137.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 412,746 shares of company stock worth $93,021,362 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AAPL. New Street Research restated a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Wednesday, September 25th. Citigroup boosted their price target on Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Oppenheimer reaffirmed a “buy” rating and set a $250.00 target price on shares of Apple in a research report on Tuesday, October 1st. Moffett Nathanson began coverage on Apple in a research report on Monday, August 19th. They set a “neutral” rating and a $211.00 target price on the stock. Finally, Jefferies Financial Group lowered Apple from a “buy” rating to a “hold” rating and increased their price target for the company from $205.00 to $212.92 in a research report on Monday, October 7th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $235.51.

Apple Stock Up 2.1 %

Shares of AAPL stock opened at $227.48 on Friday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49. The stock’s fifty day moving average price is $226.91 and its 200 day moving average price is $213.51. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The company has a market cap of $3.44 trillion, a price-to-earnings ratio of 37.41, a price-to-earnings-growth ratio of 2.18 and a beta of 1.24.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion during 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 revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.46 EPS. On average, research analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be given a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Apple 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.