Apple Inc. $AAPL Shares Bought by Greenbush Financial Group LLC

Greenbush Financial Group LLC lifted its position in Apple Inc. (NASDAQ:AAPL) by 3.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,297 shares of the iPhone maker’s stock after acquiring an additional 419 shares during the period. Apple comprises approximately 1.2% of Greenbush Financial Group LLC’s holdings, making the stock its 23rd largest position. Greenbush Financial Group LLC’s holdings in Apple were worth $2,728,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Capital Insight Partners LLC increased its position in shares of Apple by 1.9% in the second quarter. Capital Insight Partners LLC now owns 61,254 shares of the iPhone maker’s stock worth $12,567,000 after acquiring an additional 1,127 shares in the last quarter. Scott & Selber Inc. increased its position in shares of Apple by 0.3% in the second quarter. Scott & Selber Inc. now owns 114,474 shares of the iPhone maker’s stock worth $23,487,000 after acquiring an additional 394 shares in the last quarter. Genesis Private Wealth LLC increased its position in shares of Apple by 2.2% in the second quarter. Genesis Private Wealth LLC now owns 5,458 shares of the iPhone maker’s stock worth $1,120,000 after acquiring an additional 119 shares in the last quarter. Investment Advisory Services Inc. TX ADV increased its position in shares of Apple by 3.1% in the second quarter. Investment Advisory Services Inc. TX ADV now owns 48,804 shares of the iPhone maker’s stock worth $10,013,000 after acquiring an additional 1,464 shares in the last quarter. Finally, Independence Bank of Kentucky increased its position in shares of Apple by 1.7% in the second quarter. Independence Bank of Kentucky now owns 119,431 shares of the iPhone maker’s stock worth $24,504,000 after acquiring an additional 1,976 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the transaction, the senior vice president owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 129,963 shares of Apple stock in a transaction that occurred 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 in the company, valued at approximately $842,412,558.95. This represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,922 shares of company stock valued at $64,320,190 over the last 90 days. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Sanford C. Bernstein assumed coverage on shares of Apple in a report on Monday, September 15th. They set an “outperform” rating and a $290.00 price target for the company. Needham & Company LLC restated a “hold” rating on shares of Apple in a report on Friday, July 25th. Morgan Stanley set a $298.00 price target on shares of Apple and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Monness Crespi & Hardt raised their price target on shares of Apple from $245.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Finally, The Goldman Sachs Group restated a “buy” rating and set a $266.00 price target on shares of Apple in a report on Tuesday, August 26th. Four analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $248.29.

Apple Price Performance

NASDAQ AAPL opened at $249.34 on Thursday. 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 stock has a market capitalization of $3.70 trillion, a PE ratio of 37.84, a price-to-earnings-growth ratio of 2.41 and a beta of 1.09. The company has a 50 day moving average price of $240.12 and a two-hundred day moving average price of $216.49. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10.

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. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same quarter last year, the firm posted $1.40 earnings per share. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. As a group, equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were given a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is currently 15.78%.

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.