Passive Capital Management LLC. Has $894,000 Holdings in Apple Inc. (NASDAQ:AAPL)

Passive Capital Management LLC. lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 52.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 4,244 shares of the iPhone maker’s stock after purchasing an additional 1,462 shares during the period. Passive Capital Management LLC.’s holdings in Apple were worth $894,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AAPL. Greater Midwest Financial Group LLC boosted its position in Apple by 5.0% during the 2nd quarter. Greater Midwest Financial Group LLC now owns 51,783 shares of the iPhone maker’s stock worth $11,481,000 after buying an additional 2,488 shares during the period. Centaurus Financial Inc. raised its stake in shares of Apple by 26.1% during the second quarter. Centaurus Financial Inc. now owns 198,136 shares of the iPhone maker’s stock valued at $41,731,000 after acquiring an additional 41,004 shares during the last quarter. Anchor Investment Management LLC lifted its holdings in shares of Apple by 2.6% during the second quarter. Anchor Investment Management LLC now owns 125,539 shares of the iPhone maker’s stock worth $26,441,000 after purchasing an additional 3,184 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Apple by 13.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 10,009,191 shares of the iPhone maker’s stock worth $2,108,136,000 after purchasing an additional 1,214,546 shares during the last quarter. Finally, KP Management LLC increased its holdings in Apple by 8.9% in the second quarter. KP Management LLC now owns 49,000 shares of the iPhone maker’s stock valued at $10,320,000 after purchasing an additional 4,000 shares during the period. Institutional investors own 60.41% of the company’s stock.

Apple Stock Up 1.3 %

AAPL stock opened at $228.02 on Tuesday. The firm has a market capitalization of $3.45 trillion, a PE ratio of 37.50, a P/E/G ratio of 2.20 and a beta of 1.24. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The stock’s 50 day moving average is $227.18 and its 200-day moving average is $217.00.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same period in the prior year, the firm posted $1.46 EPS. Apple’s quarterly revenue was up 6.1% compared to the same quarter last year. Sell-side analysts expect that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Maxim Group upped their price target on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. reissued an “overweight” rating and set a $265.00 target price on shares of Apple in a research report on Tuesday, September 10th. Robert W. Baird raised their price target on shares of Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Loop Capital reduced their price objective on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, New Street Research reissued a “neutral” rating and set a $225.00 target price on shares of Apple in a research note on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $235.51.

Insiders Place Their Bets

In other Apple news, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the transaction, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. The trade was a 35.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the sale, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 404,040 shares of company stock valued at $91,062,512. Corporate insiders own 0.06% of the company’s stock.

Apple Company 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.