Allen Capital Group LLC Buys 3,224 Shares of Apple Inc. (NASDAQ:AAPL)

Allen Capital Group LLC lifted its position in Apple Inc. (NASDAQ:AAPL) by 3.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 90,316 shares of the iPhone maker’s stock after buying an additional 3,224 shares during the quarter. Apple comprises approximately 2.6% of Allen Capital Group LLC’s holdings, making the stock its 7th largest position. Allen Capital Group LLC’s holdings in Apple were worth $21,044,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. CFS Investment Advisory Services LLC bought a new stake in Apple in the 3rd quarter valued at $13,037,000. First County Bank CT lifted its stake in shares of Apple by 1.6% in the third quarter. First County Bank CT now owns 44,677 shares of the iPhone maker’s stock valued at $10,410,000 after buying an additional 720 shares during the period. Concorde Asset Management LLC grew its position in Apple by 12.4% during the third quarter. Concorde Asset Management LLC now owns 14,723 shares of the iPhone maker’s stock worth $3,430,000 after buying an additional 1,619 shares in the last quarter. Sei Investments Co. raised its holdings in Apple by 13.2% in the 3rd quarter. Sei Investments Co. now owns 7,159,429 shares of the iPhone maker’s stock valued at $1,668,152,000 after acquiring an additional 835,837 shares in the last quarter. Finally, Wrenne Financial Planning LLC lifted its position in shares of Apple by 0.9% in the 3rd quarter. Wrenne Financial Planning LLC now owns 12,897 shares of the iPhone maker’s stock worth $3,005,000 after acquiring an additional 112 shares during the period. 67.73% of the stock is owned by institutional investors.

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm’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 transaction, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AAPL shares. Monness Crespi & Hardt boosted their price objective on Apple to $245.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Oppenheimer lowered shares of Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price objective on shares of Apple in a report on Friday. TD Cowen reiterated a “buy” rating on shares of Apple in a research report on Tuesday. Finally, Wedbush reissued an “outperform” rating and issued a $325.00 price target on shares of Apple in a research report on Thursday, January 23rd. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $242.52.

Apple Stock Down 0.7 %

NASDAQ:AAPL opened at $236.00 on Friday. The stock’s fifty day moving average price is $241.56 and its two-hundred day moving average price is $230.86. The company has a market cap of $3.55 trillion, a price-to-earnings ratio of 38.82, a P/E/G ratio of 2.39 and a beta of 1.20. 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 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. On average, analysts anticipate that Apple Inc. will post 7.34 EPS for the current year.

Apple Dividend Announcement

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 paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend is Monday, February 10th. Apple’s dividend payout ratio (DPR) is 15.87%.

About Apple

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.