Apple Inc. (NASDAQ:AAPL) is American Investment Services Inc.’s 8th Largest Position

American Investment Services Inc. raised its holdings in Apple Inc. (NASDAQ:AAPL) by 0.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 74,616 shares of the iPhone maker’s stock after acquiring an additional 67 shares during the quarter. Apple accounts for about 2.8% of American Investment Services Inc.’s holdings, making the stock its 8th biggest position. American Investment Services Inc.’s holdings in Apple were worth $15,716,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in AAPL. Fidelis Capital Partners LLC increased its position in shares of Apple by 17.9% in the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after buying an additional 31,278 shares in the last quarter. Access Investment Management LLC purchased a new stake in Apple during the 1st quarter worth about $140,000. Hoese & Co LLP lifted its holdings in Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 57 shares in the last quarter. Sage Financial Group Inc. acquired a new stake in shares of Apple during the 2nd quarter worth about $206,000. Finally, Benchmark Wealth Management LLC purchased a new stake in shares of Apple during the second quarter worth about $208,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Trading Down 0.2 %

Shares of NASDAQ AAPL opened at $226.96 on Monday. The company has a market cap of $3.43 trillion, a price-to-earnings ratio of 37.33, a price-to-earnings-growth ratio of 2.18 and a beta of 1.24. The stock’s 50 day simple moving average is $226.82 and its 200 day simple moving average is $214.36. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the prior year, the business posted $1.46 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities research analysts expect that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is 16.45%.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the transaction, the insider now owns 15,419 shares of the company’s stock, valued at $3,469,275. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Apple news, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,469,275. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 412,746 shares of company stock valued at $93,021,362. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Monness Crespi & Hardt reissued a “buy” rating and set a $245.00 price target on shares of Apple in a research note on Monday, September 9th. New Street Research reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Apple in a research report on Wednesday, September 25th. The Goldman Sachs Group increased their target price on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Bank of America reaffirmed a “buy” rating and issued a $256.00 target price on shares of Apple in a research report on Thursday, October 3rd. Finally, StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $235.51.

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.