Concorde Asset Management LLC Purchases 3,011 Shares of Apple Inc. (NASDAQ:AAPL)

Concorde Asset Management LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 29.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,128 shares of the iPhone maker’s stock after acquiring an additional 3,011 shares during the quarter. Apple comprises about 2.3% of Concorde Asset Management LLC’s investment portfolio, making the stock its 12th biggest position. Concorde Asset Management LLC’s holdings in Apple were worth $2,546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. IFM Investors Pty Ltd grew its stake in Apple by 20.0% in the first quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock valued at $456,728,000 after purchasing an additional 435,891 shares during the last quarter. Ironwood Wealth Management LLC. boosted its holdings in Apple by 0.4% in the first quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock worth $42,016,000 after acquiring an additional 1,040 shares in the last quarter. Markel Corp boosted its holdings in Apple by 0.7% in the first quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock worth $210,752,000 after acquiring an additional 8,450 shares in the last quarter. Camden Capital LLC boosted its holdings in Apple by 9.2% in the first quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock worth $27,305,000 after acquiring an additional 13,200 shares in the last quarter. Finally, Harbor Island Capital LLC boosted its holdings in Apple by 0.3% in the first quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock worth $23,629,000 after acquiring an additional 400 shares in the last quarter. 58.51% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Deirdre O’brien sold 15,419 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $178.56, for a total transaction of $2,753,216.64. Following the sale, the senior vice president now owns 136,445 shares of the company’s stock, valued at $24,363,619.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Timothy D. Cook sold 240,569 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total value of $41,498,152.50. Following the transaction, the chief executive officer now directly owns 3,280,053 shares in the company, valued at approximately $565,809,142.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Deirdre O’brien sold 15,419 shares of Apple stock in a transaction on Monday, August 7th. The shares were sold at an average price of $178.56, for a total value of $2,753,216.64. Following the transaction, the senior vice president now owns 136,445 shares in the company, valued at $24,363,619.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 455,004 shares of company stock valued at $79,238,767. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Up 0.3 %

Shares of Apple stock opened at $170.77 on Wednesday. The stock’s 50-day simple moving average is $177.09 and its 200 day simple moving average is $179.31. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.92 and a current ratio of 0.98. The stock has a market capitalization of $2.67 trillion, a P/E ratio of 28.70, a P/E/G ratio of 2.33 and a beta of 1.28. Apple Inc. has a 52-week low of $124.17 and a 52-week high of $198.23.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. The company had revenue of $81.80 billion for the quarter, compared to analysts’ expectations of $81.79 billion. Apple had a net margin of 24.68% and a return on equity of 164.92%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.20 EPS. As a group, research analysts anticipate that Apple Inc. will post 6.04 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date was Friday, August 11th. Apple’s payout ratio is 16.13%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. UBS Group reissued a “neutral” rating and issued a $190.00 price target on shares of Apple in a report on Wednesday, September 27th. Rosenblatt Securities reiterated a “neutral” rating and issued a $198.00 target price on shares of Apple in a research report on Tuesday, September 12th. The Goldman Sachs Group dropped their target price on Apple from $222.00 to $216.00 and set a “buy” rating on the stock in a research report on Wednesday, September 13th. Needham & Company LLC reiterated a “buy” rating and issued a $195.00 target price on shares of Apple in a research report on Tuesday. Finally, KeyCorp reiterated a “sector weight” rating on shares of Apple in a research report on Monday. Ten analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $198.08.

Apple Profile

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.