Great Lakes Retirement Inc. raised its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 3.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 86,245 shares of the iPhone maker’s stock after acquiring an additional 2,575 shares during the quarter. Apple comprises 2.6% of Great Lakes Retirement Inc.’s investment portfolio, making the stock its 7th biggest holding. Great Lakes Retirement Inc.’s holdings in Apple were worth $20,095,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Hershey Financial Advisers LLC acquired a new position in Apple during the 2nd quarter worth approximately $42,000. Christopher J. Hasenberg Inc increased its holdings in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after acquiring an additional 144 shares in the last quarter. Cordant Inc. raised its position in shares of Apple by 34.3% during the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after purchasing an additional 173 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 worth $175,000 after purchasing an additional 57 shares during the period. Finally, Sage Financial Group Inc. acquired a new stake in Apple in the 2nd quarter valued at $206,000. 67.73% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 6.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction on 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 sale, the senior vice president now 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 disclosure for this sale can be found here. Insiders have sold 508,170 shares of company stock worth $117,004,745 in the last ninety days. 0.06% of the stock is currently owned by insiders.
Apple Trading Up 1.9 %
Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to the consensus estimate 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 period last year, the firm earned $1.46 EPS. On average, equities analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.
Apple Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is 16.45%.
Wall Street Analysts Forecast Growth
AAPL has been the topic of a number of recent research reports. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $265.00 price objective on shares of Apple in a research note on Tuesday, September 10th. KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a research report on Friday, October 25th. Monness Crespi & Hardt reissued a “buy” rating and set a $245.00 price objective on shares of Apple in a report on Monday, September 9th. Loop Capital dropped their target price on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, New Street Research reiterated a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average target price of $236.78.
View Our Latest Report on AAPL
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.
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