Glenmede Trust Co. NA Purchases 57,060 Shares of Apple Inc. (NASDAQ:AAPL)

Glenmede Trust Co. NA grew its position in Apple Inc. (NASDAQ:AAPL) by 1.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,150,902 shares of the iPhone maker’s stock after buying an additional 57,060 shares during the period. Apple makes up 4.6% of Glenmede Trust Co. NA’s portfolio, making the stock its largest position. Glenmede Trust Co. NA’s holdings in Apple were worth $967,160,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Bridgewater Associates LP grew its position in shares of Apple by 119.9% in the 3rd quarter. Bridgewater Associates LP now owns 1,031,856 shares of the iPhone maker’s stock valued at $240,422,000 after purchasing an additional 562,532 shares during the period. Insight Wealth Partners LLC boosted its holdings in shares of Apple by 26.3% in the third quarter. Insight Wealth Partners LLC now owns 11,307 shares of the iPhone maker’s stock valued at $2,635,000 after buying an additional 2,357 shares during the period. Capital Counsel LLC NY increased its position in shares of Apple by 0.6% during the third quarter. Capital Counsel LLC NY now owns 77,610 shares of the iPhone maker’s stock worth $18,083,000 after acquiring an additional 450 shares in the last quarter. Hardy Reed LLC raised its holdings in shares of Apple by 0.8% during the third quarter. Hardy Reed LLC now owns 135,617 shares of the iPhone maker’s stock worth $31,599,000 after acquiring an additional 1,036 shares during the period. Finally, Townsquare Capital LLC lifted its position in Apple by 36.9% in the 3rd quarter. Townsquare Capital LLC now owns 872,654 shares of the iPhone maker’s stock valued at $203,328,000 after acquiring an additional 235,333 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Insiders Place Their Bets

In related news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % 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 Trading Up 2.1 %

Shares of AAPL stock opened at $232.80 on Wednesday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $260.10. The company has a market capitalization of $3.50 trillion, a PE ratio of 36.95, a price-to-earnings-growth ratio of 2.36 and a beta of 1.20. The firm has a 50 day moving average price of $241.58 and a two-hundred day moving average price of $230.89. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. As a group, analysts predict that Apple Inc. will post 7.33 earnings per share for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 13th. Investors of record on Monday, February 10th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Monday, February 10th. Apple’s dividend payout ratio is 15.87%.

Analysts Set New Price Targets

AAPL has been the subject of a number of research reports. Barclays increased their target price on Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Wells Fargo & Company boosted their target price on Apple to $275.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Jefferies Financial Group downgraded Apple from a “hold” rating to an “underperform” rating and reduced their price target for the stock from $211.84 to $200.75 in a research report on Thursday, January 30th. Morgan Stanley lifted their price objective on shares of Apple from $273.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Maxim Group increased their target price on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $242.52.

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.