Annex Advisory Services LLC Has $69.58 Million Stake in Apple Inc. (NASDAQ:AAPL)

Annex Advisory Services LLC raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 48.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 298,608 shares of the iPhone maker’s stock after purchasing an additional 97,567 shares during the period. Apple accounts for 2.2% of Annex Advisory Services LLC’s portfolio, making the stock its 9th largest holding. Annex Advisory Services LLC’s holdings in Apple were worth $69,576,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of AAPL. Hershey Financial Advisers LLC acquired a new position in Apple during the 2nd quarter valued at $42,000. Christopher J. Hasenberg Inc increased its holdings in shares of Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares during the period. Hoese & Co LLP raised its position in shares of Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after buying an additional 57 shares during the last quarter. Sage Financial Group Inc. bought a new stake in shares of Apple in the second quarter valued at about $206,000. Finally, Benchmark Wealth Management LLC acquired a new stake in Apple during the second quarter worth about $208,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Up 1.0 %

NASDAQ AAPL opened at $237.33 on Monday. The stock has a market capitalization of $3.59 trillion, a P/E ratio of 39.03, a price-to-earnings-growth ratio of 2.33 and a beta of 1.24. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.81. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a fifty day moving average of $229.02 and a 200-day moving average of $220.02.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.46 EPS. On average, equities research analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.42%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is 16.45%.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 408,170 shares of company stock worth $92,007,745. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Monness Crespi & Hardt reiterated a “buy” rating and issued a $245.00 price objective on shares of Apple in a research report on Monday, September 9th. Melius Research reaffirmed a “buy” rating and issued a $265.00 target price on shares of Apple in a research report on Tuesday, August 27th. Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and boosted their price target for the company from $205.00 to $212.92 in a report on Monday, October 7th. New Street Research restated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research note on Wednesday, September 25th. Finally, Wedbush reiterated an “outperform” rating and set a $300.00 target price on shares of Apple in a research report on Friday. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.68.

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.