Bedel Financial Consulting Inc. Grows Position in Apple Inc. (NASDAQ:AAPL)

Bedel Financial Consulting Inc. grew its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 82,803 shares of the iPhone maker’s stock after purchasing an additional 371 shares during the quarter. Apple comprises 3.3% of Bedel Financial Consulting Inc.’s holdings, making the stock its 5th biggest position. Bedel Financial Consulting Inc.’s holdings in Apple were worth $11,321,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Apple by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after acquiring an additional 8,734,393 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Apple by 1.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock worth $14,097,970,000 after acquiring an additional 1,155,915 shares in the last quarter. Swiss National Bank boosted its holdings in Apple by 13.1% in the first quarter. Swiss National Bank now owns 71,060,708 shares of the iPhone maker’s stock worth $12,407,910,000 after acquiring an additional 8,230,300 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Apple by 10.1% in the first quarter. Wellington Management Group LLP now owns 67,133,546 shares of the iPhone maker’s stock worth $11,722,187,000 after acquiring an additional 6,162,898 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Apple by 2.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 49,435,007 shares of the iPhone maker’s stock worth $6,758,754,000 after purchasing an additional 1,003,177 shares during the last quarter. 57.72% of the stock is owned by institutional investors.

Insider Activity at Apple

In related news, SVP Deirdre O’brien sold 176,299 shares of the stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $142.16, for a total transaction of $25,062,665.84. Following the completion of the transaction, the senior vice president now directly owns 136,290 shares of the company’s stock, valued at $19,374,986.40. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Chris Kondo sold 20,200 shares of the stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the completion of the transaction, the insider now directly owns 31,505 shares of the company’s stock, valued at $4,685,423.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Deirdre O’brien sold 176,299 shares of the stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $142.16, for a total value of $25,062,665.84. Following the transaction, the senior vice president now directly owns 136,290 shares of the company’s stock, valued at $19,374,986.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 380,851 shares of company stock valued at $56,707,789. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on AAPL. Morgan Stanley decreased their price target on Apple from $177.00 to $175.00 and set an “overweight” rating for the company in a research note on Tuesday, November 8th. Deutsche Bank Aktiengesellschaft decreased their price target on Apple from $175.00 to $170.00 and set a “buy” rating for the company in a research note on Friday, October 28th. Bank Of America (Bofa) cut Apple from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $189.00 to $160.00 in a research note on Friday, September 30th. Robert W. Baird decreased their price target on Apple from $185.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, October 28th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $189.00 price target on shares of Apple in a research note on Tuesday, November 8th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average price target of $176.26.

Apple Stock Performance

NASDAQ AAPL opened at $151.07 on Friday. The firm has a market cap of $2.40 trillion, a price-to-earnings ratio of 24.73, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.95. The business has a 50-day moving average price of $146.62 and a 200-day moving average price of $149.67. Apple Inc. has a twelve month low of $129.04 and a twelve month high of $182.94.

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

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend was Friday, November 4th. Apple’s payout ratio is presently 15.06%.

Apple Company 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; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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