LGT Financial Advisors LLC Has $1.60 Million Holdings in Apple Inc. (NASDAQ:AAPL)

LGT Financial Advisors LLC raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 7,616 shares of the iPhone maker’s stock after acquiring an additional 129 shares during the period. Apple accounts for about 3.4% of LGT Financial Advisors LLC’s portfolio, making the stock its 4th biggest position. LGT Financial Advisors LLC’s holdings in Apple were worth $1,604,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Capital International Investors lifted its holdings in Apple by 7.1% during the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after acquiring an additional 2,474,887 shares during the period. Jennison Associates LLC increased its position in shares of Apple by 1.7% during the 1st quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock valued at $5,061,296,000 after purchasing an additional 485,873 shares during the last quarter. Swedbank AB raised its stake in shares of Apple by 13.4% during the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after purchasing an additional 2,359,409 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Apple by 16.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,993,042 shares of the iPhone maker’s stock worth $3,085,427,000 after buying an additional 2,594,138 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in Apple by 2.5% during the first quarter. Nordea Investment Management AB now owns 17,247,950 shares of the iPhone maker’s stock valued at $2,951,297,000 after buying an additional 415,186 shares during the period. 60.41% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Up 1.2 %

Shares of Apple stock opened at $235.00 on Monday. The company has a 50-day moving average of $225.78 and a 200 day moving average of $208.38. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The firm has a market cap of $3.60 trillion, a price-to-earnings ratio of 36.55, a PEG ratio of 2.40 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. The firm had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. Apple’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.26 EPS. As a group, sell-side analysts anticipate that Apple Inc. will post 6.65 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AAPL shares. Wedbush restated an “outperform” rating and set a $285.00 price target on shares of Apple in a research note on Monday, September 9th. Bank of America reissued a “buy” rating and issued a $256.00 target price on shares of Apple in a research report on Thursday, October 3rd. Tigress Financial upped their price target on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. KeyCorp restated a “hold” rating and issued a $247.61 price objective on shares of Apple in a research note on Wednesday, August 28th. Finally, Melius Research reiterated a “buy” rating and set a $265.00 target price on shares of Apple in a research report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $239.27.

Insider Activity

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were 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 owns 191,543 shares in the company, valued at approximately $39,542,136.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 517,924 shares of company stock valued at $114,786,399 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

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.