Apple Inc. $AAPL is Callan Family Office LLC’s 4th Largest Position

Callan Family Office LLC lifted its stake in Apple Inc. (NASDAQ:AAPL) by 110.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 470,332 shares of the iPhone maker’s stock after buying an additional 247,074 shares during the quarter. Apple makes up 3.0% of Callan Family Office LLC’s holdings, making the stock its 4th largest position. Callan Family Office LLC’s holdings in Apple were worth $96,498,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. Court Place Advisors LLC grew its stake in shares of Apple by 0.6% during the 2nd quarter. Court Place Advisors LLC now owns 25,386 shares of the iPhone maker’s stock worth $5,208,000 after purchasing an additional 150 shares during the period. TFR Capital LLC. lifted its stake in shares of Apple by 2.3% in the 2nd quarter. TFR Capital LLC. now owns 54,107 shares of the iPhone maker’s stock valued at $11,101,000 after purchasing an additional 1,209 shares during the period. Mainstay Capital Management LLC ADV boosted its holdings in Apple by 102.7% during the second quarter. Mainstay Capital Management LLC ADV now owns 18,540 shares of the iPhone maker’s stock worth $3,804,000 after buying an additional 9,392 shares in the last quarter. Boomfish Wealth Group LLC grew its position in Apple by 8.1% during the second quarter. Boomfish Wealth Group LLC now owns 15,556 shares of the iPhone maker’s stock valued at $3,192,000 after buying an additional 1,162 shares during the period. Finally, Muhlenkamp & Co. Inc. increased its holdings in Apple by 0.3% in the second quarter. Muhlenkamp & Co. Inc. now owns 62,616 shares of the iPhone maker’s stock valued at $12,847,000 after buying an additional 170 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Timothy D. Cook sold 129,963 shares of the business’s stock in a transaction dated 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 directly owned 3,280,295 shares of the company’s stock, valued at approximately $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were 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 in the company, valued at approximately $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 259,121 shares of company stock valued at $65,358,981. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AAPL shares. Moffett Nathanson raised shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price on the stock in a research note on Thursday, September 4th. Phillip Securities cut Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price target for the company. in a report on Thursday, September 11th. The Goldman Sachs Group increased their price target on Apple from $279.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday. JPMorgan Chase & Co. boosted their price objective on Apple from $290.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday. Finally, DA Davidson upped their target price on Apple from $250.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $277.52.

Apple Stock Performance

NASDAQ:AAPL opened at $269.05 on Tuesday. The company’s 50-day moving average is $249.17 and its two-hundred day moving average is $222.85. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $277.32. 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 has a market capitalization of $3.99 trillion, a price-to-earnings ratio of 40.83, a PEG ratio of 2.62 and a beta of 1.09.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm had revenue of $102.47 billion during the quarter, compared to the consensus estimate of $101.65 billion. During the same period last year, the company earned $1.64 EPS. The company’s quarterly revenue was up 8.7% on a year-over-year basis. 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 will be paid on Thursday, November 13th. Investors of record on Monday, November 10th will be paid 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 is Monday, November 10th. Apple’s payout ratio is presently 13.92%.

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.