Parkside Financial Bank & Trust Increases Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Parkside Financial Bank & Trust grew its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 9.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,032 shares of the iPhone maker’s stock after buying an additional 2,794 shares during the period. Apple accounts for approximately 2.4% of Parkside Financial Bank & Trust’s holdings, making the stock its 8th biggest position. Parkside Financial Bank & Trust’s holdings in Apple were worth $7,398,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AAPL. Centaurus Financial Inc. boosted its stake in Apple by 17.9% in the 1st quarter. Centaurus Financial Inc. now owns 8,318 shares of the iPhone maker’s stock worth $44,000 after purchasing an additional 1,262 shares in the last quarter. Avondale Wealth Management raised its position in Apple by 25.4% in the 2nd 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 raised its position in Apple by 2,245.0% in the 2nd 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. Horan Securities Inc. raised its position in Apple by 64.2% in the 2nd 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. Finally, Kahn Brothers Group Inc. DE purchased a new position in Apple in the 3rd quarter worth about $112,000. Hedge funds and other institutional investors own 59.51% of the company’s stock.

In related news, CEO Timothy D. Cook sold 265,160 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $206.17, for a total value of $54,668,037.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arthur D. Levinson sold 37,394 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $257.79, for a total transaction of $9,639,799.26. Following the completion of the sale, the director now directly owns 1,170,677 shares of the company’s stock, valued at $301,788,823.83. The disclosure for this sale can be found here. Insiders sold a total of 448,158 shares of company stock valued at $97,019,630 over the last three months. 0.05% of the stock is currently owned by insiders.

Apple stock opened at $265.76 on Monday. The firm has a 50 day moving average of $240.62 and a 200 day moving average of $211.23. The firm has a market capitalization of $1,166.98 billion, a price-to-earnings ratio of 22.35, a P/E/G ratio of 1.87 and a beta of 1.25. Apple Inc. has a 12-month low of $142.00 and a 12-month high of $265.78. The company has a current ratio of 1.54, a quick ratio of 1.50 and a debt-to-equity ratio of 1.01.

Apple (NASDAQ:AAPL) last released its earnings results on Wednesday, October 30th. The iPhone maker reported $3.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.84 by $0.19. The company had revenue of $64.04 billion during the quarter, compared to analyst estimates of $62.86 billion. Apple had a net margin of 21.24% and a return on equity of 53.82%. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.91 EPS. On average, analysts predict that Apple Inc. will post 13.17 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Thursday, November 7th. Apple’s dividend payout ratio is 25.90%.

A number of brokerages have weighed in on AAPL. Goldman Sachs Group set a $192.00 target price on Apple and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Cascend Securities boosted their target price on Apple from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Morgan Stanley boosted their target price on Apple from $289.00 to $296.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Macquarie set a $210.00 target price on Apple and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Finally, Wedbush reissued a “buy” rating and issued a $325.00 target price (up previously from $300.00) on shares of Apple in a research report on Friday. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $244.54.

Apple 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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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