Greenwood Gearhart Inc. Has $43.50 Million Stake in Apple Inc. (NASDAQ:AAPL)

Greenwood Gearhart Inc. lowered its position in Apple Inc. (NASDAQ:AAPL) by 0.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 206,532 shares of the iPhone maker’s stock after selling 311 shares during the quarter. Apple accounts for about 4.1% of Greenwood Gearhart Inc.’s holdings, making the stock its 4th largest position. Greenwood Gearhart Inc.’s holdings in Apple were worth $43,500,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. Access Investment Management LLC acquired a new position in shares of Apple in the 1st quarter worth approximately $140,000. Hoese & Co LLP raised its holdings in shares of Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after buying an additional 57 shares in the last quarter. Sage Financial Group Inc. acquired a new position in shares of Apple in the 2nd quarter worth approximately $206,000. Benchmark Wealth Management LLC acquired a new position in shares of Apple in the 2nd quarter worth approximately $208,000. Finally, Sequent Asset Management LLC acquired a new position in shares of Apple in the 2nd quarter worth approximately $214,000. Institutional investors own 60.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AAPL shares. Morgan Stanley reissued an “overweight” rating and issued a $273.00 target price on shares of Apple in a report on Tuesday, September 10th. StockNews.com raised Apple from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Bank of America reissued a “buy” rating and issued a $256.00 target price on shares of Apple in a report on Thursday, October 3rd. Oppenheimer reaffirmed a “buy” rating and set a $250.00 price target on shares of Apple in a report on Tuesday, October 1st. Finally, Melius Research reaffirmed a “buy” rating and set a $265.00 price target on shares of Apple in a report on Tuesday, August 27th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.91.

Insiders Place Their Bets

In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the transaction, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $111,148,695.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the sale, the chief operating officer now owns 489,944 shares in the company, valued at approximately $111,148,695.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 517,924 shares of company stock worth $114,786,399. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Up 0.9 %

NASDAQ:AAPL opened at $233.40 on Tuesday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $3.58 trillion, a P/E ratio of 36.30, a P/E/G ratio of 2.40 and a beta of 1.24. The stock’s fifty day simple moving average is $227.01 and its 200-day simple moving average is $211.05.

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

Apple Dividend Announcement

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

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.