Quad Cities Investment Group LLC Has $12.68 Million Position in Apple Inc. $AAPL

Quad Cities Investment Group LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 61,818 shares of the iPhone maker’s stock after selling 1,982 shares during the quarter. Apple comprises about 5.8% of Quad Cities Investment Group LLC’s investment portfolio, making the stock its largest holding. Quad Cities Investment Group LLC’s holdings in Apple were worth $12,683,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Kingstone Capital Partners Texas LLC lifted its holdings in Apple by 573,627.2% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock valued at $39,065,374,000 after acquiring an additional 205,656,808 shares during the last quarter. Norges Bank purchased a new stake in shares of Apple in the fourth quarter worth approximately $46,868,648,000. Nuveen LLC acquired a new position in Apple in the first quarter worth approximately $17,472,482,000. GAMMA Investing LLC increased its holdings in Apple by 25,934.1% in the first quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock worth $133,425,490,000 after buying an additional 59,835,676 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after purchasing an additional 20,079,472 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $254.63 on Wednesday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The stock’s fifty day moving average price is $230.51 and its two-hundred day moving average price is $213.80. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The firm has a market cap of $3.78 trillion, a price-to-earnings ratio of 38.64, a P/E/G ratio of 2.64 and a beta of 1.11.

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

In other news, SVP Deirdre O’brien sold 34,821 shares of the company’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AAPL shares. HSBC set a $220.00 price objective on Apple and gave the company a “hold” rating in a research report on Monday, September 8th. Phillip Securities lowered Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 target price for the company. in a research note on Thursday, September 11th. JPMorgan Chase & Co. lifted their price objective on Apple from $255.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, September 19th. Loop Capital decreased their target price on Apple from $230.00 to $226.00 and set a “hold” rating for the company in a research report on Thursday, August 21st. Finally, Morgan Stanley set a $240.00 price objective on Apple and gave the company an “overweight” rating in a report on Wednesday, September 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $245.51.

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.