First Business Financial Services Inc. Purchases 834 Shares of Apple Inc. (NASDAQ:AAPL)

First Business Financial Services Inc. boosted its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,686 shares of the iPhone maker’s stock after buying an additional 834 shares during the period. Apple makes up approximately 1.2% of First Business Financial Services Inc.’s investment portfolio, making the stock its 12th largest position. First Business Financial Services Inc.’s holdings in Apple were worth $11,097,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Fidelis Capital Partners LLC lifted its position in shares of Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after buying an additional 31,278 shares during the last quarter. Access Investment Management LLC acquired a new position in Apple during the first quarter worth about $140,000. Hoese & Co LLP lifted its holdings in shares of Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after acquiring an additional 57 shares during the last quarter. Sage Financial Group Inc. bought a new position in shares of Apple in the second quarter worth about $206,000. Finally, Benchmark Wealth Management LLC acquired a new stake in shares of Apple in the 2nd quarter valued at approximately $208,000. 60.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AAPL shares. Robert W. Baird upped their price objective on shares of Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price target on shares of Apple in a research note on Thursday, September 19th. Cfra raised their price objective on Apple from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Bank of America reaffirmed a “buy” rating and issued a $256.00 target price on shares of Apple in a report on Thursday, October 3rd. Finally, Citigroup reiterated a “buy” rating and issued a $255.00 target price on shares of Apple in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $239.27.

Insider Activity at Apple

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Apple news, insider Chris Kondo sold 8,706 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the sale, the insider now owns 15,419 shares in the company, valued at approximately $3,469,275. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 517,924 shares of company stock valued at $114,786,399 over the last 90 days. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of AAPL stock opened at $235.00 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The firm has a fifty day simple moving average of $225.78 and a two-hundred day simple moving average of $208.38. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The firm has a market capitalization of $3.60 trillion, a PE ratio of 36.55, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.26 earnings per share. Analysts forecast that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. Apple’s dividend payout ratio is presently 15.55%.

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.