Gallacher Capital Management LLC Has $2.92 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Gallacher Capital Management LLC trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 5.5% in the second quarter, Holdings Channel.com reports. The fund owned 13,883 shares of the iPhone maker’s stock after selling 811 shares during the quarter. Apple makes up approximately 1.5% of Gallacher Capital Management LLC’s investment portfolio, making the stock its 10th biggest position. Gallacher Capital Management LLC’s holdings in Apple were worth $2,924,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Capital International Investors raised its holdings in shares of Apple by 7.1% during the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock valued at $6,369,852,000 after purchasing an additional 2,474,887 shares during the period. Jennison Associates LLC boosted its position in shares of Apple by 1.7% during the first quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock valued at $5,061,296,000 after buying an additional 485,873 shares during the last quarter. Swedbank AB raised its holdings in shares of Apple by 13.4% in the second quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock valued at $4,214,222,000 after purchasing an additional 2,359,409 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Apple by 16.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,993,042 shares of the iPhone maker’s stock worth $3,085,427,000 after buying an additional 2,594,138 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in Apple by 2.5% in the 1st quarter. Nordea Investment Management AB now owns 17,247,950 shares of the iPhone maker’s stock valued at $2,951,297,000 after purchasing an additional 415,186 shares during the period. 60.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the sale, the insider now owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 517,924 shares of company stock worth $114,786,399 in the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AAPL shares. Oppenheimer reiterated a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. Evercore ISI reaffirmed a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Thursday, September 26th. Loop Capital increased their price target on shares of Apple to $300.00 and gave the company a “buy” rating in a research report on Monday. Jefferies Financial Group cut Apple from a “buy” rating to a “hold” rating and raised their price objective for the company from $205.00 to $212.92 in a research note on Monday, October 7th. Finally, StockNews.com upgraded Apple from a “hold” rating to a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average price target of $237.27.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $230.76 on Thursday. The firm has a market cap of $3.54 trillion, a price-to-earnings ratio of 35.89, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The business has a 50-day simple moving average of $226.64 and a two-hundred day simple moving average of $209.48.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The firm had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.26 EPS. On average, analysts expect that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio is currently 15.55%.

Apple 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.