Schear Investment Advisers LLC boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 8.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,310 shares of the iPhone maker’s stock after acquiring an additional 2,361 shares during the period. Apple makes up approximately 4.5% of Schear Investment Advisers LLC’s investment portfolio, making the stock its 3rd largest holding. Schear Investment Advisers LLC’s holdings in Apple were worth $7,295,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Lantz Financial LLC increased its holdings in Apple by 8.6% during the 2nd quarter. Lantz Financial LLC now owns 29,751 shares of the iPhone maker’s stock worth $6,266,000 after purchasing an additional 2,361 shares in the last quarter. Leonard Rickey Investment Advisors P.L.L.C. boosted its position in shares of Apple by 7.4% during the second quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 11,422 shares of the iPhone maker’s stock worth $2,406,000 after buying an additional 787 shares during the period. Pathway Financial Advisors LLC grew its holdings in shares of Apple by 0.5% during the second quarter. Pathway Financial Advisors LLC now owns 21,243 shares of the iPhone maker’s stock worth $4,474,000 after buying an additional 104 shares in the last quarter. LVZ Inc. raised its position in Apple by 21.5% in the 2nd quarter. LVZ Inc. now owns 23,892 shares of the iPhone maker’s stock valued at $5,032,000 after buying an additional 4,234 shares during the last quarter. Finally, JB Capital LLC lifted its stake in Apple by 14.0% in the 2nd quarter. JB Capital LLC now owns 150,216 shares of the iPhone maker’s stock valued at $31,638,000 after acquiring an additional 18,429 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.
Apple Stock Down 0.4 %
Shares of AAPL opened at $222.78 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $260.10. The firm’s 50 day moving average is $240.97 and its 200-day moving average is $230.72. The stock has a market capitalization of $3.35 trillion, a PE ratio of 36.64, a P/E/G ratio of 2.19 and a beta of 1.20.
Apple Announces Dividend
The company also recently disclosed 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. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.45%. Apple’s dividend payout ratio is 16.45%.
Analysts Set New Price Targets
Several brokerages have recently weighed in on AAPL. JPMorgan Chase & Co. decreased their price target on shares of Apple from $265.00 to $260.00 and set an “overweight” rating for the company in a research note on Tuesday. 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. Piper Sandler restated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a report on Wednesday, October 9th. Bank of America reiterated a “buy” rating and set a $253.00 target price (down previously from $256.00) on shares of Apple in a report on Friday. Finally, UBS Group reaffirmed a “neutral” rating and set a $236.00 price target on shares of Apple in a research report on Monday, December 2nd. Four analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $238.05.
Get Our Latest Stock Analysis on AAPL
Insiders Place Their Bets
In related news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction that occurred 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 transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.
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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