Genesee Capital Advisors LLC Purchases 1,352 Shares of Apple Inc. (NASDAQ:AAPL)

Genesee Capital Advisors LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 2.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 52,692 shares of the iPhone maker’s stock after buying an additional 1,352 shares during the period. Apple accounts for about 4.8% of Genesee Capital Advisors LLC’s portfolio, making the stock its 4th largest holding. Genesee Capital Advisors LLC’s holdings in Apple were worth $9,201,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Joseph Group Capital Management bought a new stake in shares of Apple during the 4th quarter worth about $1,631,000. Cardinal Capital Management Inc. boosted its holdings in shares of Apple by 5,525.0% during the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after buying an additional 221 shares during the period. Shore Point Advisors LLC bought a new stake in shares of Apple during the 4th quarter worth about $41,000. Emerson Wealth LLC boosted its holdings in shares of Apple by 363.6% during the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after buying an additional 320 shares during the period. Finally, Econ Financial Services Corp boosted its holdings in shares of Apple by 29.1% during the 1st quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock worth $74,000 after buying an additional 95 shares during the period. Institutional investors own 57.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on AAPL shares. Itau BBA Securities started coverage on shares of Apple in a report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price objective for the company. Credit Suisse Group set a $201.00 price objective on shares of Apple in a report on Thursday, September 8th. Citigroup boosted their price objective on shares of Apple from $175.00 to $185.00 and gave the company a “buy” rating in a report on Friday, July 29th. Fundamental Research set a $177.07 price objective on shares of Apple and gave the company a “buy” rating in a report on Thursday, August 4th. Finally, Bank of America cut their price objective on shares of Apple from $200.00 to $185.00 in a report on Tuesday, July 26th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average target price of $181.52.

Insider Activity

In other news, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total value of $16,923,788.25. Following the sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total value of $16,923,788.25. Following the sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the sale, the senior vice president now directly owns 427,334 shares in the company, valued at $70,411,823.18. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Apple Trading Down 1.9 %

Shares of NASDAQ AAPL opened at $152.37 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94. The firm has a 50 day moving average price of $159.46 and a two-hundred day moving average price of $156.26. The stock has a market cap of $2.45 trillion, a P/E ratio of 25.14, a price-to-earnings-growth ratio of 1.99 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The firm had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. During the same period in the prior year, the company posted $1.30 EPS. The company’s revenue was up 1.9% on a year-over-year basis. As a group, equities analysts forecast that Apple Inc. will post 6.11 EPS for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date was Friday, August 5th. Apple’s dividend payout ratio is currently 15.18%.

Apple Company Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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