GFG Capital LLC Has $23.19 Million Holdings in Apple Inc. $AAPL

GFG Capital LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 7.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 104,377 shares of the iPhone maker’s stock after selling 8,665 shares during the quarter. Apple accounts for approximately 6.8% of GFG Capital LLC’s holdings, making the stock its 3rd biggest position. GFG Capital LLC’s holdings in Apple were worth $23,185,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Conquis Financial LLC bought a new stake in shares of Apple during the 4th quarter valued at about $63,000. LSV Asset Management bought a new stake in shares of Apple during the 4th quarter valued at about $65,000. Elite Financial Inc. bought a new stake in shares of Apple during the 1st quarter valued at about $58,000. Pillar Financial Advisors LLC bought a new stake in shares of Apple during the 4th quarter valued at about $82,000. Finally, Compass Planning Associates Inc bought a new stake in shares of Apple during the 4th quarter valued at about $96,000. 67.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AAPL has been the subject of a number of recent research reports. BMO Capital Markets reiterated a “buy” rating on shares of Apple in a research note on Wednesday, August 13th. UBS Group boosted their price objective on Apple from $210.00 to $220.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Jefferies Financial Group upgraded Apple from an “underperform” rating to a “hold” rating in a research note on Friday, July 18th. Scotiabank downgraded Apple to a “market perform” rating in a research note on Friday, May 2nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Apple in a research note on Friday, July 25th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average price target of $237.37.

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 34,821 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the transaction, the senior vice president directly owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Up 0.5%

NASDAQ AAPL opened at $230.49 on Thursday. The stock’s 50 day moving average is $214.45 and its 200 day moving average is $213.05. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The stock has a market cap of $3.42 trillion, a PE ratio of 34.98, a P/E/G ratio of 2.39 and a beta of 1.16.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $94.04 billion for the quarter, compared to analysts’ expectations of $88.64 billion. During the same period in the previous year, the firm earned $1.40 EPS. The firm’s revenue was up 9.6% compared to the same quarter last year. Research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were issued a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.5%. Apple’s payout ratio is currently 15.78%.

Apple announced that its Board of Directors has initiated a stock buyback program on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.