Apple Inc. (NASDAQ:AAPL) Shares Purchased by First City Capital Management Inc.

First City Capital Management Inc. grew its stake in Apple Inc. (NASDAQ:AAPL) by 1.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,718 shares of the iPhone maker’s stock after purchasing an additional 358 shares during the period. Apple comprises approximately 2.5% of First City Capital Management Inc.’s investment portfolio, making the stock its 10th largest position. First City Capital Management Inc.’s holdings in Apple were worth $4,827,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bull Oak Capital LLC grew its stake in shares of Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after buying an additional 111 shares during the last quarter. Hershey Financial Advisers LLC acquired a new stake in shares of Apple during the 2nd quarter valued at $42,000. Christopher J. Hasenberg Inc grew its position in Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares during the last quarter. ARK Investment Management LLC acquired a new position in Apple in the 3rd quarter worth about $110,000. Finally, Cordant Inc. raised its position in Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after purchasing an additional 173 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AAPL. Monness Crespi & Hardt boosted their price target on Apple to $245.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Bank of America reissued a “buy” rating and set a $253.00 target price (down from $256.00) on shares of Apple in a report on Friday. Wedbush reaffirmed an “outperform” rating and set a $325.00 price target on shares of Apple in a research note on Thursday, January 23rd. Maxim Group boosted their price objective on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Finally, The Goldman Sachs Group lowered their target price on Apple from $286.00 to $280.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $238.05.

Apple Stock Performance

NASDAQ AAPL opened at $229.82 on Tuesday. The company has a market cap of $3.46 trillion, a P/E ratio of 37.80, a PEG ratio of 2.19 and a beta of 1.20. The company has a fifty day simple moving average of $240.93 and a 200 day simple moving average of $230.68. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $260.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the firm earned $1.46 earnings per share. Sell-side analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple’s dividend payout ratio (DPR) is currently 16.45%.

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.