Bridge Creek Capital Management LLC Has $12.04 Million Position in Apple Inc. $AAPL

Bridge Creek Capital Management LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,674 shares of the iPhone maker’s stock after acquiring an additional 516 shares during the quarter. Apple comprises 3.5% of Bridge Creek Capital Management LLC’s holdings, making the stock its 2nd biggest position. Bridge Creek Capital Management LLC’s holdings in Apple were worth $12,038,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. First National Bank of Hutchinson grew its position in Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after purchasing an additional 6,982 shares during the last quarter. Eagle Capital Management LLC boosted its holdings in shares of Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after acquiring an additional 272 shares during the last quarter. Brighton Jones LLC boosted its holdings in Apple by 14.8% during the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after buying an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in Apple by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after buying an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE raised its position in Apple by 2.4% during the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after acquiring an additional 1,155 shares during the period. Institutional investors own 67.73% of the company’s stock.

Apple Stock Down 0.5%

Shares of NASDAQ:AAPL opened at $255.46 on Monday. The firm’s 50 day moving average price is $228.87 and its 200 day moving average price is $213.22. The stock has a market cap of $3.79 trillion, a price-to-earnings ratio of 38.76, a price-to-earnings-growth ratio of 2.65 and a beta of 1.11. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week 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.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm had revenue of $94.04 billion for the quarter, compared to analysts’ expectations of $88.64 billion. During the same quarter last year, the company earned $1.40 earnings per share. The firm’s revenue was up 9.6% compared to the same quarter last year. As a group, equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a dividend of $0.26 per share. 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 0.4%. Apple’s dividend payout ratio (DPR) is presently 15.78%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group restated a “buy” rating and set a $266.00 price objective on shares of Apple in a research report on Tuesday, August 26th. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a research report on Friday, July 25th. Jefferies Financial Group upped their price objective on shares of Apple from $190.67 to $205.82 and gave the company a “hold” rating in a report on Monday, September 8th. JPMorgan Chase & Co. upped their price objective on shares of Apple from $255.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, September 19th. Finally, Rosenblatt Securities upped their price objective on shares of Apple from $223.00 to $241.00 and gave the company a “neutral” rating in a report on Wednesday, September 10th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average price target of $245.66.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of the firm’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 sale, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.06% of the company’s stock.

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.