Great Lakes Advisors LLC increased its stake in Apple Inc. (NASDAQ:AAPL) by 13.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 366,968 shares of the iPhone maker’s stock after purchasing an additional 44,031 shares during the quarter. Apple makes up 1.6% of Great Lakes Advisors LLC’s investment portfolio, making the stock its 2nd largest holding. Great Lakes Advisors LLC’s holdings in Apple were worth $72,630,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Centaurus Financial Inc. lifted its holdings in shares of Apple by 17.9% during the first quarter. Centaurus Financial Inc. now owns 8,318 shares of the iPhone maker’s stock worth $44,000 after buying an additional 1,262 shares during the last quarter. Semmax Financial Advisors Inc. acquired a new position in shares of Apple during the fourth quarter worth approximately $50,000. Avondale Wealth Management lifted its holdings in shares of Apple by 25.4% during the second quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock worth $63,000 after buying an additional 64 shares during the last quarter. NuWave Investment Management LLC lifted its holdings in shares of Apple by 2,245.0% during the second quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock worth $93,000 after buying an additional 449 shares during the last quarter. Finally, Horan Securities Inc. lifted its holdings in shares of Apple by 64.2% during the second quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock worth $112,000 after buying an additional 221 shares during the last quarter. Hedge funds and other institutional investors own 59.21% of the company’s stock.
Apple stock traded down $0.15 on Friday, reaching $213.14. The company’s stock had a trading volume of 4,117,600 shares, compared to its average volume of 25,316,028. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.47 and a current ratio of 1.50. The company has a market cap of $945.37 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 1.74 and a beta of 1.24. The business’s fifty day moving average price is $205.91 and its 200 day moving average price is $195.17. Apple Inc. has a twelve month low of $142.00 and a twelve month high of $233.47.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Friday, August 9th. Apple’s dividend payout ratio is currently 25.86%.
In other news, insider Chris Kondo sold 4,376 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $217.47, for a total transaction of $951,648.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Arthur D. Levinson sold 17,500 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $214.02, for a total value of $3,745,350.00. Following the transaction, the director now directly owns 1,150,783 shares in the company, valued at approximately $246,290,577.66. The disclosure for this sale can be found here. In the last three months, insiders sold 304,536 shares of company stock worth $62,894,611. Insiders own 0.05% of the company’s stock.
A number of research analysts have recently commented on AAPL shares. Goldman Sachs Group reiterated a “neutral” rating and set a $189.00 price target on shares of Apple in a report on Friday, August 2nd. Bank of America upped their price target on Apple from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Daiwa Capital Markets set a $223.00 price objective on Apple and gave the company a “buy” rating in a research report on Wednesday, August 7th. Rosenblatt Securities restated a “sell” rating and set a $150.00 price objective on shares of Apple in a research report on Monday, July 8th. Finally, DA Davidson boosted their price objective on Apple to $270.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $217.25.
Apple Company Profile
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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