Goelzer Investment Management Inc. Has $30.30 Million Position in Apple Inc. $AAPL

Goelzer Investment Management Inc. decreased its position in Apple Inc. (NASDAQ:AAPL) by 4.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 147,666 shares of the iPhone maker’s stock after selling 6,840 shares during the period. Apple comprises about 1.7% of Goelzer Investment Management Inc.’s investment portfolio, making the stock its 8th biggest holding. Goelzer Investment Management Inc.’s holdings in Apple were worth $30,297,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AAPL. ROSS JOHNSON & Associates LLC lifted its position in Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after buying an additional 180 shares in the last quarter. Life Planning Partners Inc purchased a new stake in Apple in the 4th quarter worth approximately $47,000. Elite Financial Inc. purchased a new stake in Apple in the 1st quarter worth approximately $58,000. Conquis Financial LLC purchased a new stake in Apple in the 4th quarter worth approximately $63,000. Finally, LSV Asset Management purchased a new stake in Apple in the 4th quarter worth approximately $65,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AAPL. Bank of America increased their target price on shares of Apple from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Phillip Securities downgraded shares of Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price target on the stock. in a report on Thursday, September 11th. Sanford C. Bernstein started coverage on shares of Apple in a report on Monday, September 15th. They set an “outperform” rating and a $290.00 price target on the stock. Evercore ISI raised their price target on shares of Apple from $250.00 to $260.00 and gave the company an “outperform” rating in a report on Wednesday, September 10th. Finally, Barclays raised their price target on shares of Apple from $173.00 to $180.00 and gave the company an “underweight” rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $244.03.

Apple Price Performance

NASDAQ:AAPL opened at $254.43 on Wednesday. The firm has a market cap of $3.78 trillion, a PE ratio of 38.61, a price-to-earnings-growth ratio of 2.66 and a beta of 1.11. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The company’s 50-day moving average price is $226.20 and its two-hundred day moving average price is $212.51.

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

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple’s dividend payout ratio is presently 15.78%.

Insider Activity

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

About Apple

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.