Assetmark Inc. Has $197.69 Million Position in Apple Inc. (NASDAQ:AAPL)

Assetmark Inc. boosted its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 3.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,445,967 shares of the iPhone maker’s stock after purchasing an additional 50,499 shares during the quarter. Apple accounts for about 0.9% of Assetmark Inc.’s investment portfolio, making the stock its 25th biggest holding. Assetmark Inc.’s holdings in Apple were worth $197,693,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Opus Capital Group LLC boosted its position in Apple by 0.3% in the first quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock worth $3,332,000 after purchasing an additional 63 shares during the last quarter. Norwood Financial Corp raised its stake in shares of Apple by 0.9% in the first quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock worth $1,227,000 after buying an additional 65 shares during the period. Mokosak Advisory Group LLC raised its stake in shares of Apple by 1.2% in the first quarter. Mokosak Advisory Group LLC now owns 5,702 shares of the iPhone maker’s stock worth $996,000 after buying an additional 66 shares during the period. Harbor Capital Advisors Inc. raised its stake in shares of Apple by 6.7% in the second quarter. Harbor Capital Advisors Inc. now owns 1,046 shares of the iPhone maker’s stock worth $143,000 after buying an additional 66 shares during the period. Finally, Lake Point Wealth Management raised its stake in shares of Apple by 1.7% in the second quarter. Lake Point Wealth Management now owns 4,025 shares of the iPhone maker’s stock worth $550,000 after buying an additional 67 shares during the period. Institutional investors and hedge funds own 57.72% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Barclays decreased their price objective on Apple from $156.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, November 7th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $139.00 price objective on shares of Apple in a research note on Thursday, September 8th. Bank Of America (Bofa) downgraded Apple from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $189.00 to $160.00 in a research note on Friday, September 30th. Sanford C. Bernstein set a $170.00 price objective on Apple in a research note on Monday, September 12th. Finally, Evercore ISI lifted their target price on Apple from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Tuesday, September 20th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $176.26.

Insider Buying and Selling at Apple

In other Apple news, CFO Luca Maestri sold 176,299 shares of the business’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the sale, the chief financial officer now owns 110,673 shares in the company, valued at approximately $17,259,454.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Deirdre O’brien sold 8,053 shares of the company’s stock in a transaction dated Monday, October 17th. The stock was sold at an average price of $142.45, for a total value of $1,147,149.85. Following the sale, the senior vice president now owns 136,290 shares in the company, valued at $19,414,510.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Luca Maestri sold 176,299 shares of the company’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $155.95, for a total value of $27,493,829.05. Following the completion of the sale, the chief financial officer now owns 110,673 shares in the company, valued at approximately $17,259,454.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 360,651 shares of company stock worth $53,703,645. 0.06% of the stock is currently owned by insiders.

Apple Trading Down 2.2 %

Shares of NASDAQ:AAPL opened at $148.01 on Tuesday. The business’s 50-day moving average is $146.78 and its 200 day moving average is $149.71. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The firm has a market capitalization of $2.35 trillion, a P/E ratio of 24.22, a P/E/G ratio of 1.93 and a beta of 1.25. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.02. The business had revenue of $90.15 billion for the quarter, compared to the consensus estimate of $88.77 billion. Apple had a return on equity of 160.90% and a net margin of 25.31%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.24 EPS. On average, research analysts predict that Apple Inc. will post 6.26 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, November 4th. This represents a $0.92 annualized dividend and a yield of 0.62%. Apple’s payout ratio is presently 15.06%.

Apple Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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