Eaton Financial Holdings Company LLC Makes New Investment in Apple Inc. (NASDAQ:AAPL)

Eaton Financial Holdings Company LLC acquired a new position in shares of Apple Inc. (NASDAQ:AAPL) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 28,938 shares of the iPhone maker’s stock, valued at approximately $6,743,000. Apple accounts for 2.7% of Eaton Financial Holdings Company LLC’s holdings, making the stock its 10th largest holding.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Apple by 10.6% in the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after purchasing an additional 55,935,105 shares during the period. FMR LLC increased its position in shares of Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after purchasing an additional 18,224,005 shares during the period. Geode Capital Management LLC increased its position in shares of Apple by 6.5% in the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock worth $77,542,863,000 after purchasing an additional 20,483,787 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Apple by 6.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock worth $22,121,656,000 after purchasing an additional 5,893,741 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of Apple by 20,372.7% in the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after purchasing an additional 93,886,664 shares during the period. Institutional investors own 67.73% of the company’s stock.

Apple Price Performance

Shares of AAPL opened at $244.60 on Friday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The business’s 50 day moving average price is $240.67 and its two-hundred day moving average price is $231.41. The firm has a market cap of $3.67 trillion, a PE ratio of 38.83, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating 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%. On average, equities analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. Apple’s dividend payout ratio is 15.87%.

Insider Activity

In related news, 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 transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 value of $945,233.10. Following the sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Maxim Group lifted their target price on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Argus upgraded Apple to a “strong-buy” rating in a research report on Friday, January 31st. StockNews.com cut Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Raymond James lifted their target price on Apple to $250.00 and gave the company a “buy” rating in a research report on Monday, January 20th. Finally, Sanford C. Bernstein lifted their target price on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $242.52.

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.