Gilbert Capital Group Inc. Purchases Shares of 5,251 Apple Inc. $AAPL

Gilbert Capital Group Inc. purchased a new stake in Apple Inc. (NASDAQ:AAPL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,251 shares of the iPhone maker’s stock, valued at approximately $1,077,000. Apple accounts for about 0.9% of Gilbert Capital Group Inc.’s investment portfolio, making the stock its 23rd biggest holding.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AAPL shares. Bank of America increased their price objective on Apple from $270.00 to $320.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Phillip Securities downgraded shares of 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. Melius Research set a $345.00 price objective on shares of Apple in a report on Friday, October 31st. Monness Crespi & Hardt upped their price objective on shares of Apple from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, DA Davidson lifted their target price on Apple from $250.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $282.51.

Apple Stock Performance

NASDAQ:AAPL opened at $274.61 on Wednesday. The firm has a market capitalization of $4.06 trillion, a PE ratio of 36.76, a price-to-earnings-growth ratio of 2.56 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 1.06. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $288.62. The firm has a 50-day moving average price of $268.95 and a 200 day moving average price of $238.34.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. Apple had a return on equity of 164.05% and a net margin of 26.92%.The company had revenue of $102.47 billion for the quarter, compared to the consensus estimate of $101.65 billion. During the same period in the previous year, the business earned $1.64 earnings per share. The company’s quarterly revenue was up 8.7% on a year-over-year basis. Research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Insider Activity at Apple

In other news, insider Chris Kondo sold 3,752 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $271.23, for a total value of $1,017,654.96. Following the sale, the insider owned 15,098 shares in the company, valued at approximately $4,095,030.54. The trade was a 19.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Deirdre O’brien sold 43,013 shares of the company’s stock in a transaction dated Thursday, October 2nd. The stock was 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. The trade was a 23.94% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 228,052 shares of company stock valued at $58,604,588. Insiders own 0.06% of the company’s stock.

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.