Apple Inc. $AAPL Shares Bought by GGM Financials LLC

GGM Financials LLC grew its stake in shares of Apple Inc. (NASDAQ:AAPL) by 110.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,585 shares of the iPhone maker’s stock after acquiring an additional 8,189 shares during the period. Apple comprises about 0.7% of GGM Financials LLC’s holdings, making the stock its 26th biggest position. GGM Financials LLC’s holdings in Apple were worth $3,198,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of AAPL. Burkett Financial Services LLC raised its holdings in Apple by 0.6% in the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock valued at $3,199,000 after acquiring an additional 93 shares during the last quarter. Avid Wealth Partners LLC raised its holdings in Apple by 28.3% in the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock valued at $935,000 after acquiring an additional 930 shares during the last quarter. Bell & Brown Wealth Advisors LLC raised its holdings in Apple by 0.4% in the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock valued at $13,772,000 after acquiring an additional 240 shares during the last quarter. American National Bank & Trust raised its holdings in Apple by 2.4% in the 2nd quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock valued at $40,107,000 after acquiring an additional 4,543 shares during the last quarter. Finally, Andina Capital Management LLC grew its stake in shares of Apple by 209.2% during the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock valued at $1,507,000 after buying an additional 4,591 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple

In other Apple news, SVP Deirdre O’brien sold 43,013 shares of the business’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total value of $11,071,116.07. Following the transaction, the senior vice president owned 136,687 shares in the company, valued at $35,181,866.93. The trade was a 23.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Timothy D. Cook sold 129,963 shares of the business’s stock in a transaction on Thursday, October 2nd. The stock was 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 owned 3,280,295 shares in the company, valued at $842,412,558.95. This represents a 3.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 259,121 shares of company stock valued at $65,358,981 in the last quarter. Company insiders own 0.06% of the company’s stock.

Apple Stock Down 0.4%

Shares of Apple stock opened at $270.37 on Friday. The company has a fifty day moving average price of $248.34 and a 200 day moving average price of $222.15. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $277.32. The stock has a market cap of $4.01 trillion, a price-to-earnings ratio of 41.03, a price-to-earnings-growth ratio of 2.62 and a beta of 1.09.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. During the same period in the prior year, the company earned $1.64 EPS. The firm’s revenue was up 8.7% on a year-over-year basis. Equities research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Monday, November 10th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, November 10th. Apple’s dividend payout ratio is 15.78%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Morgan Stanley boosted their price objective on shares of Apple from $298.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday. Wedbush reissued an “outperform” rating on shares of Apple in a research note on Tuesday, October 21st. TD Cowen boosted their price objective on shares of Apple from $275.00 to $325.00 and gave the company a “buy” rating in a research note on Friday. Raymond James Financial reissued an “outperform” rating and set a $240.00 price objective (up from $230.00) on shares of Apple in a research note on Friday, August 1st. Finally, Cowen reissued a “buy” rating on shares of Apple in a research note on Monday, October 27th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $276.39.

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.