Pathway Financial Advisors LLC Grows Stake in Apple Inc. (NASDAQ:AAPL)

Pathway Financial Advisors LLC lifted its stake in Apple Inc. (NASDAQ:AAPL) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,556 shares of the iPhone maker’s stock after buying an additional 313 shares during the period. Apple makes up 1.3% of Pathway Financial Advisors LLC’s portfolio, making the stock its 15th biggest position. Pathway Financial Advisors LLC’s holdings in Apple were worth $5,023,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of AAPL. China Universal Asset Management Co. Ltd. grew its stake in shares of Apple by 127.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock valued at $12,943,000 after acquiring an additional 42,282 shares in the last quarter. Graypoint LLC grew its stake in Apple by 3.9% during the 1st quarter. Graypoint LLC now owns 209,327 shares of the iPhone maker’s stock valued at $35,895,000 after purchasing an additional 7,860 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Apple by 28.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 2,601,162 shares of the iPhone maker’s stock worth $446,048,000 after purchasing an additional 568,771 shares during the last quarter. Baron Silver Stevens Financial Advisors LLC raised its position in shares of Apple by 4.6% in the 1st quarter. Baron Silver Stevens Financial Advisors LLC now owns 45,004 shares of the iPhone maker’s stock valued at $7,717,000 after purchasing an additional 1,982 shares in the last quarter. Finally, Adapt Wealth Advisors LLC purchased a new position in shares of Apple during the 1st quarter valued at approximately $868,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $232.87 on Tuesday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The firm has a market cap of $3.52 trillion, a P/E ratio of 38.30, a PEG ratio of 2.25 and a beta of 1.24. The stock has a fifty day moving average price of $228.06 and a two-hundred day moving average price of $218.64. 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 announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share 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 analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.46 earnings per share. Research analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. Apple’s dividend payout ratio is currently 16.45%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AAPL shares. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. TD Cowen upped their target price on shares of Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Barclays decreased their price target on Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, November 1st. Maxim Group upped their price objective on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $265.00 target price on shares of Apple in a research report on Tuesday, September 10th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Apple has an average rating of “Moderate Buy” and an average target price of $235.25.

Insider Buying and Selling

In related news, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction on Friday, October 4th. The stock was 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 $24,416,137.76. The trade was a 35.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 408,170 shares of company stock worth $92,007,745 in the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

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.