Greater Midwest Financial Group LLC Sells 21,724 Shares of Apple Inc. $AAPL

Greater Midwest Financial Group LLC cut its stake in Apple Inc. (NASDAQ:AAPL) by 45.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,306 shares of the iPhone maker’s stock after selling 21,724 shares during the period. Apple makes up about 4.1% of Greater Midwest Financial Group LLC’s portfolio, making the stock its 8th biggest holding. Greater Midwest Financial Group LLC’s holdings in Apple were worth $5,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Ryan Investment Management Inc. bought a new position in Apple in the 2nd quarter valued at about $31,000. ROSS JOHNSON & Associates LLC boosted its position in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 180 shares in the last quarter. Nexus Investment Management ULC raised its position in Apple by 333.3% during the second quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock valued at $53,000 after purchasing an additional 200 shares in the last quarter. Elite Financial Inc. bought a new stake in Apple during the first quarter worth $58,000. Finally, LSV Asset Management acquired a new stake in shares of Apple in the 4th quarter valued at $65,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on AAPL shares. Seaport Res Ptn raised Apple to a “strong-buy” rating in a report on Wednesday, October 1st. Wedbush reiterated an “outperform” rating on shares of Apple in a research report on Tuesday. Citigroup reissued a “buy” rating and issued a $315.00 target price (up previously from $245.00) on shares of Apple in a report on Friday, October 31st. Phillip Securities lowered shares of Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price target on the stock. in a report on Thursday, September 11th. Finally, Argus set a $325.00 price objective on shares of Apple and gave the stock a “buy” rating in a research report on Friday, October 31st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $278.53.

Apple Price Performance

AAPL stock opened at $286.19 on Wednesday. The company has a market capitalization of $4.23 trillion, a P/E ratio of 38.31, a PEG ratio of 2.64 and a beta of 1.10. The company has a fifty day moving average price of $264.45 and a 200-day moving average price of $232.89. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.86 and a current ratio of 0.89. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $287.40.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.11. The company had revenue of $102.47 billion for the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a net margin of 26.92% and a return on equity of 164.05%. Apple’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.64 earnings per share. As a group, equities analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 10th were given 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 was Monday, November 10th. Apple’s payout ratio is 13.92%.

Insider Buying and Selling

In other Apple news, CEO Timothy D. Cook sold 129,963 shares of the firm’s 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 owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. This trade represents a 3.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Deirdre O’brien sold 43,013 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the completion of the sale, the senior vice president directly owned 136,687 shares in the company, valued at approximately $35,181,866.93. This represents a 23.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 228,052 shares of company stock valued at $58,604,588. Corporate insiders own 0.06% of the company’s stock.

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.