Boston Research & Management Inc. Has $11.11 Million Position in Apple Inc. (NASDAQ:AAPL)

Boston Research & Management Inc. decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 57,290 shares of the iPhone maker’s stock after selling 530 shares during the period. Apple accounts for about 3.1% of Boston Research & Management Inc.’s portfolio, making the stock its 3rd largest holding. Boston Research & Management Inc.’s holdings in Apple were worth $11,112,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of AAPL. Atlantic Private Wealth LLC acquired a new position in shares of Apple in the 1st quarter valued at approximately $30,000. Summit Wealth Group LLC raised its position in shares of Apple by 16,252.3% in the 1st quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock valued at $42,000 after buying an additional 6,949,659 shares in the last quarter. HBC Financial Services PLLC raised its position in shares of Apple by 21.7% in the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after buying an additional 80 shares in the last quarter. Clear Perspectives Financial Planning LLC raised its position in shares of Apple by 27.3% in the 1st quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock valued at $172,000 after buying an additional 211 shares in the last quarter. Finally, Magellan Asset Management Ltd raised its position in shares of Apple by 10.6% in the 2nd quarter. Magellan Asset Management Ltd now owns 1,323 shares of the iPhone maker’s stock valued at $181,000 after buying an additional 127 shares in the last quarter. Institutional investors and hedge funds own 58.51% of the company’s stock.

Apple Stock Performance

Shares of AAPL stock opened at $191.45 on Tuesday. The firm has a 50-day moving average of $177.15 and a 200-day moving average of $181.03. The company has a market cap of $2.98 trillion, a P/E ratio of 31.28, a P/E/G ratio of 2.60 and a beta of 1.30. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.99 and a quick ratio of 0.94. Apple Inc. has a one year low of $124.17 and a one year high of $198.23.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, November 2nd. The iPhone maker reported $1.46 EPS for the quarter, beating the consensus estimate of $1.39 by $0.07. The company had revenue of $89.50 billion during the quarter, compared to the consensus estimate of $89.34 billion. Apple had a net margin of 25.31% and a return on equity of 160.78%. The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.29 earnings per share. Equities research analysts forecast that Apple Inc. will post 6.56 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Monday, November 13th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, November 10th. This represents a $0.96 annualized dividend and a yield of 0.50%. Apple’s payout ratio is currently 15.69%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Credit Suisse Group restated an “outperform” rating and issued a $220.00 target price on shares of Apple in a research report on Friday, September 15th. Canaccord Genuity Group upped their price objective on shares of Apple from $185.00 to $205.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Apple from $180.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, July 24th. Wells Fargo & Company upped their price objective on shares of Apple from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, July 24th. Finally, Citigroup reaffirmed a “buy” rating and issued a $240.00 price objective on shares of Apple in a research note on Friday, August 4th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $198.25.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 123,448 shares of the stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $188.79, for a total transaction of $23,305,747.92. Following the completion of the transaction, the senior vice president now owns 293,266 shares in the company, valued at $55,365,688.14. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Timothy D. Cook sold 240,569 shares of the stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $172.50, for a total transaction of $41,498,152.50. Following the completion of the transaction, the chief executive officer now owns 3,280,053 shares in the company, valued at $565,809,142.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Katherine L. Adams sold 123,448 shares of the stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $188.79, for a total transaction of $23,305,747.92. Following the transaction, the senior vice president now owns 293,266 shares of the company’s stock, valued at approximately $55,365,688.14. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 567,839 shares of company stock worth $100,675,794. 0.06% of the stock is owned by company insiders.

Apple Company 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.