Patriot Investment Management Group Inc. Has $7.64 Million Stock Position in Apple Inc. $AAPL

Patriot Investment Management Group Inc. decreased its stake in Apple Inc. (NASDAQ:AAPL) by 0.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,246 shares of the iPhone maker’s stock after selling 243 shares during the period. Patriot Investment Management Group Inc.’s holdings in Apple were worth $7,642,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Kingstone Capital Partners Texas LLC boosted its stake in Apple by 573,627.2% during the second quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock worth $39,065,374,000 after buying an additional 205,656,808 shares in the last quarter. Nuveen LLC acquired a new stake in Apple during the first quarter worth $17,472,482,000. GAMMA Investing LLC boosted its stake in Apple by 25,934.1% during 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 in the last quarter. Northern Trust Corp boosted its stake in Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after buying an additional 20,079,472 shares in the last quarter. Finally, Amundi boosted its stake in Apple by 27.4% during the first quarter. Amundi now owns 68,190,569 shares of the iPhone maker’s stock worth $13,870,795,000 after buying an additional 14,651,321 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AAPL shares. Moffett Nathanson upgraded shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 price target on the stock in a research note on Thursday, September 4th. Rosenblatt Securities lifted their price target on shares of Apple from $223.00 to $241.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 10th. Citigroup reiterated a “buy” rating on shares of Apple in a research note on Wednesday, September 10th. UBS Group reiterated a “neutral” rating on shares of Apple in a research note on Monday, September 8th. Finally, Evercore ISI set a $290.00 price objective on Apple and gave the company an “outperform” rating in a report on Friday, September 26th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $247.49.

Insider Activity at Apple

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the completion of the sale, the senior vice president directly owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 43,013 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the sale, the senior vice president directly owned 136,687 shares of the company’s stock, valued at $35,181,866.93. This represents a 23.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 254,922 shares of company stock valued at $64,320,190 over the last ninety days. 0.06% of the stock is owned by insiders.

Apple Stock Performance

Apple stock opened at $256.69 on Tuesday. The stock has a 50-day simple moving average of $233.94 and a 200 day simple moving average of $214.96. 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 Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The stock has a market capitalization of $3.81 trillion, a price-to-earnings ratio of 38.95, a P/E/G ratio of 2.51 and a beta of 1.09.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating 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 business had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. During the same period in the previous year, the business posted $1.40 earnings per share. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

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. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s payout ratio is currently 15.78%.

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.