Apple Inc. (NASDAQ:AAPL) Stake Boosted by Hutchens & Kramer Investment Management Group LLC

Hutchens & Kramer Investment Management Group LLC raised its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 19.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,246 shares of the iPhone maker’s stock after purchasing an additional 2,000 shares during the period. Apple comprises about 1.5% of Hutchens & Kramer Investment Management Group LLC’s portfolio, making the stock its 15th largest holding. Hutchens & Kramer Investment Management Group LLC’s holdings in Apple were worth $2,770,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Granite Investment Partners LLC grew its stake in Apple by 2.7% during the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after buying an additional 7,606 shares during the last quarter. High Net Worth Advisory Group LLC grew its position in shares of Apple by 1.7% during the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after acquiring an additional 1,066 shares during the last quarter. Truist Financial Corp increased its holdings in shares of Apple by 1.8% in the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after acquiring an additional 126,210 shares during the period. EP Wealth Advisors LLC increased its holdings in shares of Apple by 5.2% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock worth $406,099,000 after acquiring an additional 95,235 shares during the period. Finally, CHICAGO TRUST Co NA lifted its position in Apple by 15.2% in the 3rd quarter. CHICAGO TRUST Co NA now owns 149,219 shares of the iPhone maker’s stock valued at $34,768,000 after purchasing an additional 19,670 shares during the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AAPL shares. Maxim Group raised their price target 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. Oppenheimer restated a “buy” rating and issued a $250.00 target price on shares of Apple in a research report on Tuesday, October 1st. Bank of America boosted their price target on Apple to $256.00 and gave the stock a “buy” rating in a research report on Wednesday. KeyCorp lowered Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a report on Friday, October 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price objective on shares of Apple in a report on Friday, November 1st. 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, the stock has an average rating of “Moderate Buy” and an average target price of $235.68.

Insider Buying and Selling at Apple

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on 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 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 position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the company’s 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 completion of the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock valued at $92,007,745 in the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Up 0.0 %

Shares of NASDAQ:AAPL opened at $243.04 on Friday. The firm has a 50 day simple moving average of $230.23 and a 200 day simple moving average of $221.05. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $244.54. 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 company has a market cap of $3.67 trillion, a PE ratio of 39.97, a price-to-earnings-growth ratio of 2.38 and a beta of 1.23.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The company 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 for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.46 earnings per share. As a group, research analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given 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 0.41%. Apple’s payout ratio is presently 16.45%.

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.