GM Advisory Group LLC Has $43.40 Million Position in Apple Inc. (NASDAQ:AAPL)

GM Advisory Group LLC increased its holdings in Apple Inc. (NASDAQ:AAPL) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,043 shares of the iPhone maker’s stock after purchasing an additional 2,530 shares during the quarter. Apple accounts for 2.8% of GM Advisory Group LLC’s holdings, 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.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Swedbank AB purchased a new stake in shares of Apple during the first quarter valued at $3,026,492,000. Strategic Financial Concepts LLC boosted its holdings in shares of Apple by 14,145.8% in the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after buying an additional 7,558,826 shares during the period. Canada Pension Plan Investment Board increased its position in shares of Apple by 158.3% in the first quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock worth $1,977,582,000 after acquiring an additional 7,067,379 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of Apple by 161.2% in the 1st quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock valued at $1,502,068,000 after acquiring an additional 5,405,542 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new position in Apple in the 2nd quarter worth approximately $834,368,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

Shares of Apple stock opened at $227.48 on Friday. 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 PE ratio of 37.41, a price-to-earnings-growth ratio of 2.18 and a beta of 1.24. The firm has a fifty day moving average price of $226.91 and a two-hundred day moving average price of $213.51. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same quarter in the prior year, the business earned $1.46 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Analysts expect that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

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

Insider Activity

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on AAPL shares. Raymond James increased their target price on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Piper Sandler reiterated a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, October 9th. Melius Research restated a “buy” rating and set a $265.00 price target on shares of Apple in a report on Tuesday, August 27th. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 target price on shares of Apple in a research report on Friday, November 1st. Finally, Tigress Financial boosted their price target on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $235.51.

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.