Apple Inc. $AAPL Shares Purchased by GenWealth Group Inc.

GenWealth Group Inc. increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,939 shares of the iPhone maker’s stock after acquiring an additional 323 shares during the quarter. GenWealth Group Inc.’s holdings in Apple were worth $2,244,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of AAPL. Ryan Investment Management Inc. acquired a new stake in Apple during the second quarter worth approximately $31,000. ROSS JOHNSON & Associates LLC raised its stake in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares during the period. Elite Financial Inc. purchased a new position in Apple during the first quarter worth approximately $58,000. LSV Asset Management purchased a new position in Apple during the fourth quarter worth approximately $65,000. Finally, HFM Investment Advisors LLC purchased a new position in Apple during the first quarter worth approximately $99,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on AAPL. Rosenblatt Securities increased 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. HSBC set a $220.00 price target on shares of Apple and gave the stock a “hold” rating in a research note on Monday, September 8th. Jefferies Financial Group downgraded shares of Apple from a “hold” rating to an “underperform” rating and cut their price target for the stock from $205.82 to $205.16 in a research note on Friday, October 3rd. Bank of America increased their price target on shares of Apple from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Finally, Melius Research set a $290.00 target price on shares of Apple and gave the company a “buy” rating in a research note on Wednesday, September 10th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $248.29.

Apple Stock Performance

Apple stock opened at $245.27 on Friday. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a market capitalization of $3.64 trillion, a price-to-earnings ratio of 37.22, a price-to-earnings-growth ratio of 2.47 and a beta of 1.09. 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 firm’s fifty day moving average price is $237.61 and its 200 day moving average price is $215.92.

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, topping 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 the consensus estimate of $88.64 billion. During the same quarter in the previous year, the firm posted $1.40 EPS. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. On average, research analysts forecast that Apple Inc. will post 7.28 EPS 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. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s dividend payout ratio (DPR) is currently 15.78%.

Insiders Place Their Bets

In other Apple news, CEO Timothy D. Cook sold 129,963 shares of the firm’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the completion of the transaction, the chief executive officer directly owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. This trade represents a 3.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president directly owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,922 shares of company stock valued at $64,320,190 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.

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.