Asset Management Group Inc. Has $23.26 Million Stake in Apple Inc. (NASDAQ:AAPL)

Asset Management Group Inc. reduced its stake in Apple Inc. (NASDAQ:AAPL) by 0.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 99,834 shares of the iPhone maker’s stock after selling 400 shares during the period. Apple makes up 4.1% of Asset Management Group Inc.’s portfolio, making the stock its 2nd largest holding. Asset Management Group Inc.’s holdings in Apple were worth $23,261,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. High Net Worth Advisory Group LLC increased its holdings in shares of Apple by 1.7% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after buying an additional 1,066 shares during the last quarter. Amara Financial LLC. purchased a new position in Apple in the third quarter worth about $288,000. Granite Investment Partners LLC increased its stake in Apple by 2.7% during the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after acquiring an additional 7,606 shares during the last quarter. Truist Financial Corp raised its position in Apple by 1.8% during the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after purchasing an additional 126,210 shares during the period. Finally, Sterling Investment Counsel LLC lifted its stake in shares of Apple by 3.8% in the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after purchasing an additional 2,565 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AAPL. JPMorgan Chase & Co. boosted their target price on Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday. Piper Sandler reissued a “neutral” rating and issued a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. Maxim Group lifted their price target on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Morgan Stanley raised their price objective on shares of Apple from $273.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Raymond James boosted their target price on Apple to $250.00 and gave the company a “buy” rating in a research report on Monday, January 20th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $242.52.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm’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 completion of the transaction, the chief operating officer now owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Apple Stock Down 0.7 %

Shares of Apple stock opened at $236.00 on Friday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10. The firm’s 50 day moving average price is $241.56 and its 200-day moving average price is $230.86. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The company has a market cap of $3.55 trillion, a P/E ratio of 38.82, a PEG ratio of 2.39 and a beta of 1.20.

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

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 13th. Shareholders of record on Monday, February 10th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend is Monday, February 10th. Apple’s dividend payout ratio is presently 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.