Advance Capital Management Inc. Buys 689 Shares of Apple Inc. (NASDAQ:AAPL)

Advance Capital Management Inc. raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,905 shares of the iPhone maker’s stock after purchasing an additional 689 shares during the quarter. Apple accounts for 0.3% of Advance Capital Management Inc.’s portfolio, making the stock its 19th largest holding. Advance Capital Management Inc.’s holdings in Apple were worth $6,968,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of AAPL. Swedbank AB bought a new stake in shares of Apple during the 1st quarter valued at $3,026,492,000. Strategic Financial Concepts LLC raised its stake in shares of Apple by 14,145.8% during the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after purchasing an additional 7,558,826 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Apple by 158.3% during the 1st 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 during the period. Lazard Asset Management LLC lifted its position in Apple by 161.2% during the first quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock worth $1,502,068,000 after acquiring an additional 5,405,542 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new position in shares of Apple during the 2nd quarter worth approximately $834,368,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Up 0.6 %

Shares of NASDAQ:AAPL opened at $229.87 on Monday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. The stock has a 50 day moving average price of $227.73 and a 200-day moving average price of $218.30. The firm has a market capitalization of $3.47 trillion, a P/E ratio of 37.81, a P/E/G ratio of 2.24 and a beta of 1.24. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. Apple’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the company earned $1.46 EPS. As a group, equities research analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AAPL. Melius Research reaffirmed a “buy” rating and issued a $265.00 price objective on shares of Apple in a research note on Tuesday, August 27th. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price objective on shares of Apple in a research note on Friday, November 1st. New Street Research reissued a “neutral” rating and set a $225.00 price target on shares of Apple in a research report on Wednesday, September 25th. Bank of America reissued a “buy” rating and issued a $256.00 target price on shares of Apple in a research report on Thursday, October 3rd. Finally, Piper Sandler restated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $235.25.

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,130 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 sale, the chief operating officer now owns 489,944 shares in the company, valued at approximately $111,148,695.84. The trade was a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 408,170 shares of company stock valued at $92,007,745. 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.