Apple Inc. (NASDAQ:AAPL) Stock Position Increased by Galvin Gaustad & Stein LLC

Galvin Gaustad & Stein LLC boosted its stake in Apple Inc. (NASDAQ:AAPL) by 2.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 141,853 shares of the iPhone maker’s stock after purchasing an additional 2,728 shares during the quarter. Apple comprises approximately 2.8% of Galvin Gaustad & Stein LLC’s holdings, making the stock its 7th largest holding. Galvin Gaustad & Stein LLC’s holdings in Apple were worth $29,877,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Foresight Capital Management Advisors Inc. lifted its position in Apple by 0.3% during the second quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock valued at $4,003,000 after acquiring an additional 55 shares during the last quarter. Hoese & Co LLP lifted its position in Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares during the last quarter. Stableford Capital II LLC lifted its position in Apple by 0.3% during the first quarter. Stableford Capital II LLC now owns 17,156 shares of the iPhone maker’s stock valued at $2,942,000 after acquiring an additional 59 shares during the last quarter. Whitcomb & Hess Inc. lifted its position in Apple by 1.7% during the second quarter. Whitcomb & Hess Inc. now owns 3,540 shares of the iPhone maker’s stock valued at $746,000 after acquiring an additional 59 shares during the last quarter. Finally, Kwmg LLC lifted its position in Apple by 0.6% during the first quarter. Kwmg LLC now owns 10,640 shares of the iPhone maker’s stock valued at $1,825,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Stock Up 0.0 %

Shares of NASDAQ AAPL opened at $222.77 on Friday. The company’s 50-day simple moving average is $223.22 and its 200-day simple moving average is $198.23. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.23. The firm has a market cap of $3.42 trillion, a price-to-earnings ratio of 34.65, a price-to-earnings-growth ratio of 2.60 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The firm had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. Apple’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.26 earnings per share. Equities analysts predict that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were given a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. Apple’s payout ratio is presently 15.55%.

Insider Buying and Selling

In related news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Apple news, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,469,275. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction dated 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 $39,542,136.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,884 shares of company stock worth $23,723,887. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AAPL. Sanford C. Bernstein raised their price target on shares of Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price target on shares of Apple in a report on Tuesday. Morgan Stanley reaffirmed an “overweight” rating and issued a $273.00 price target on shares of Apple in a report on Tuesday. Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $245.00 price target on shares of Apple in a report on Monday. Finally, Maxim Group reaffirmed a “hold” rating and issued a $203.00 price target on shares of Apple in a report on Tuesday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $238.62.

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.