Apple Inc. (NASDAQ:AAPL) is InTrack Investment Management Inc’s 3rd Largest Position

InTrack Investment Management Inc grew its stake in Apple Inc. (NASDAQ:AAPL) by 2.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,961 shares of the iPhone maker’s stock after buying an additional 483 shares during the period. Apple makes up about 4.0% of InTrack Investment Management Inc’s holdings, making the stock its 3rd biggest holding. InTrack Investment Management Inc’s holdings in Apple were worth $5,583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Mechanics Bank Trust Department grew its stake in Apple by 85.2% in the 3rd quarter. Mechanics Bank Trust Department now owns 271,007 shares of the iPhone maker’s stock worth $63,145,000 after buying an additional 124,686 shares in the last quarter. Brown Miller Wealth Management LLC grew its stake in Apple by 0.5% in the 3rd quarter. Brown Miller Wealth Management LLC now owns 112,736 shares of the iPhone maker’s stock worth $26,267,000 after buying an additional 560 shares in the last quarter. HCR Wealth Advisors boosted its stake in shares of Apple by 0.5% in the 3rd quarter. HCR Wealth Advisors now owns 530,528 shares of the iPhone maker’s stock valued at $123,613,000 after purchasing an additional 2,816 shares in the last quarter. Avondale Wealth Management boosted its stake in shares of Apple by 3.2% in the 3rd quarter. Avondale Wealth Management now owns 14,578 shares of the iPhone maker’s stock valued at $3,397,000 after purchasing an additional 450 shares in the last quarter. Finally, Burns Matteson Capital Management LLC boosted its stake in shares of Apple by 6.2% in the 3rd quarter. Burns Matteson Capital Management LLC now owns 8,988 shares of the iPhone maker’s stock valued at $2,094,000 after purchasing an additional 528 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Stock Up 1.0 %

Shares of Apple stock opened at $237.33 on Monday. 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 50-day moving average of $229.02 and a 200 day moving average of $220.02. The firm has a market cap of $3.59 trillion, a price-to-earnings ratio of 39.03, a PEG ratio of 2.33 and a beta of 1.24. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.81.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 23.97% and a return on equity of 152.94%. Apple’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business earned $1.46 EPS. As a group, sell-side analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AAPL. Maxim Group upped their price objective on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research note on Wednesday, October 9th. Bank of America reaffirmed a “buy” rating and issued a $256.00 price objective on shares of Apple in a research note on Thursday, October 3rd. Moffett Nathanson cut their price objective on shares of Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a research note on Tuesday, November 19th. Finally, 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. Two investment 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $235.68.

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the sale, the senior vice president now directly owns 187,043 shares in the company, valued at approximately $42,309,126.60. This trade represents a 24.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is owned by corporate insiders.

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.