First Business Financial Services Inc. Boosts Holdings in Apple Inc. (NASDAQ:AAPL)

First Business Financial Services Inc. grew its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 52,686 shares of the iPhone maker’s stock after acquiring an additional 834 shares during the period. Apple comprises 1.2% of First Business Financial Services Inc.’s investment portfolio, making the stock its 12th biggest position. First Business Financial Services Inc.’s holdings in Apple were worth $11,097,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of AAPL. Access Investment Management LLC purchased a new stake in Apple during the first quarter valued at about $140,000. Hoese & Co LLP raised its position in shares of Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 57 shares during the period. Sage Financial Group Inc. purchased a new stake in shares of Apple during the 2nd quarter valued at approximately $206,000. Benchmark Wealth Management LLC bought a new position in Apple in the 2nd quarter worth approximately $208,000. Finally, Sequent Asset Management LLC purchased a new position in Apple in the 2nd quarter valued at approximately $214,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 5,178 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the sale, the insider now owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 517,924 shares of company stock worth $114,786,399. 0.06% of the stock is currently owned by insiders.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $235.00 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The stock has a market cap of $3.60 trillion, a PE ratio of 36.55, a PEG ratio of 2.40 and a beta of 1.24. The company’s fifty day moving average is $225.78 and its 200 day moving average is $208.38. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. During the same period last year, the firm earned $1.26 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. Research analysts anticipate that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AAPL shares. Piper Sandler Companies restated a “neutral” rating and set a $225.00 target price (up previously from $190.00) on shares of Apple in a research report on Tuesday, July 9th. KeyCorp restated a “hold” rating and issued a $247.61 target price on shares of Apple in a research note on Wednesday, August 28th. Oppenheimer reiterated a “buy” rating and set a $250.00 price target on shares of Apple in a research report on Tuesday, October 1st. TD Cowen increased their price target on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Maxim Group reaffirmed a “hold” rating and set a $203.00 price objective on shares of Apple in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $239.27.

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.