First City Capital Management Inc. Has $2.98 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

First City Capital Management Inc. raised its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 15.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,536 shares of the iPhone maker’s stock after acquiring an additional 2,813 shares during the period. Apple makes up approximately 2.0% of First City Capital Management Inc.’s investment portfolio, making the stock its 8th largest position. First City Capital Management Inc.’s holdings in Apple were worth $2,976,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in AAPL. IFM Investors Pty Ltd boosted its stake in shares of Apple by 20.0% in the first quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock valued at $456,728,000 after buying an additional 435,891 shares during the period. Ironwood Wealth Management LLC. boosted its stake in shares of Apple by 0.4% in the first quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock valued at $42,016,000 after buying an additional 1,040 shares during the period. Markel Corp boosted its stake in shares of Apple by 0.7% in the first quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock valued at $210,752,000 after buying an additional 8,450 shares during the period. Camden Capital LLC boosted its stake in shares of Apple by 9.2% in the first quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock valued at $27,305,000 after buying an additional 13,200 shares during the period. Finally, Harbor Island Capital LLC raised its position in Apple by 0.3% during the first quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock valued at $23,629,000 after purchasing an additional 400 shares in the last quarter. Institutional investors own 57.60% of the company’s stock.

Apple Stock Performance

Shares of AAPL opened at $137.87 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.95. The stock has a market capitalization of $2.18 trillion, a P/E ratio of 22.56, a price-to-earnings-growth ratio of 1.74 and a beta of 1.24. The firm’s fifty day simple moving average is $138.72 and its two-hundred day simple moving average is $148.09. Apple Inc. has a 12 month low of $124.17 and a 12 month high of $179.61.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. The business had revenue of $90.15 billion for the quarter, compared to analysts’ expectations of $88.77 billion. Apple had a net margin of 25.31% and a return on equity of 160.90%. 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 firm posted $1.24 earnings per share. As a group, analysts predict that Apple Inc. will post 6.19 EPS for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Monday, November 7th were given a dividend of $0.23 per share. The ex-dividend date was Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.67%. Apple’s dividend payout ratio (DPR) is presently 15.06%.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 20,200 shares of the stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the transaction, the insider now owns 31,505 shares of the company’s stock, valued at approximately $4,685,423.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Luca Maestri sold 176,299 shares of the stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $17,259,454.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 20,200 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 31,505 shares in the company, valued at approximately $4,685,423.60. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on AAPL shares. Morgan Stanley lowered their price objective on shares of Apple from $177.00 to $175.00 and set an “overweight” rating for the company in a research report on Tuesday, November 8th. Credit Suisse Group restated a “buy” rating and set a $184.00 price objective on shares of Apple in a research report on Wednesday. Bank Of America (Bofa) downgraded shares of Apple from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $189.00 to $160.00 in a research report on Friday, September 30th. Rosenblatt Securities lowered their price objective on shares of Apple from $189.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, January 13th. Finally, Robert W. Baird lowered their price objective on shares of Apple from $185.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, October 28th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.73.

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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