Pathway Financial Advisers LLC Has $1.30 Billion Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Pathway Financial Advisers LLC raised its stake in Apple Inc. (NASDAQ:AAPL) by 22,870.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,590,588 shares of the iPhone maker’s stock after buying an additional 5,566,250 shares during the period. Apple comprises about 8.4% of Pathway Financial Advisers LLC’s investment portfolio, making the stock its 2nd biggest position. Pathway Financial Advisers LLC’s holdings in Apple were worth $1,302,607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its position in Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after buying an additional 93,886,664 shares during the period. Strategic Financial Concepts LLC lifted its stake in shares of Apple by 14,145.8% in the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after acquiring an additional 7,558,826 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in Apple during the 2nd quarter valued at about $834,368,000. Ameriprise Financial Inc. grew its position in Apple by 6.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after acquiring an additional 3,245,281 shares during the last quarter. Finally, Tairen Capital Ltd purchased a new position in Apple in the 2nd quarter worth approximately $588,952,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insiders Place Their Bets

In related news, insider Chris Kondo sold 4,130 shares of the firm’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 completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction dated Wednesday, October 2nd. The stock was 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 directly 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 disclosure for this sale can be found here. Insiders have sold 508,170 shares of company stock valued at $117,004,745 in the last three months. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Up 1.1 %

NASDAQ AAPL opened at $258.20 on Thursday. The stock has a market capitalization of $3.90 trillion, a P/E ratio of 42.47, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $258.21. 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 $235.93 and a 200-day moving average of $226.77.

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. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same quarter in the previous year, the business earned $1.46 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts forecast that Apple Inc. will post 7.43 EPS for the current 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on AAPL shares. Piper Sandler reissued a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. JPMorgan Chase & Co. restated an “overweight” rating and set a $265.00 price target on shares of Apple in a report on Tuesday, September 10th. Rosenblatt Securities upped their price target on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Loop Capital cut their price objective on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, StockNews.com downgraded Apple from a “buy” rating to a “hold” rating 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-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.78.

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.