Apple Inc. $AAPL Shares Purchased by West Michigan Advisors LLC

West Michigan Advisors LLC grew its stake in shares of Apple Inc. (NASDAQ:AAPL) by 5.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,145 shares of the iPhone maker’s stock after acquiring an additional 2,331 shares during the quarter. Apple comprises about 2.7% of West Michigan Advisors LLC’s holdings, making the stock its 5th largest position. West Michigan Advisors LLC’s holdings in Apple were worth $9,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the stock. Ryan Investment Management Inc. purchased a new stake in shares of Apple during the 2nd quarter valued at $31,000. ROSS JOHNSON & Associates LLC grew its holdings in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares during the period. Nexus Investment Management ULC increased its position in Apple by 333.3% during the 2nd quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock worth $53,000 after purchasing an additional 200 shares in the last quarter. Elite Financial Inc. purchased a new position in Apple in the first quarter valued at approximately $58,000. Finally, LSV Asset Management purchased a new stake in Apple during the fourth quarter worth approximately $65,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Price Performance

Shares of AAPL stock opened at $275.92 on Tuesday. The firm has a fifty day moving average of $260.27 and a two-hundred day moving average of $229.92. The firm has a market cap of $4.08 trillion, a P/E ratio of 41.87, a P/E/G ratio of 2.62 and a beta of 1.09. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $277.32. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, topping the consensus estimate of $1.74 by $0.11. The business had revenue of $102.47 billion for the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.64 earnings per share. As a group, research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 10th were given a $0.26 dividend. The ex-dividend date was Monday, November 10th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is presently 13.92%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Sanford C. Bernstein set a $325.00 price objective on Apple in a research report on Monday, November 3rd. Barclays upped their price target on Apple from $180.00 to $230.00 and gave the stock an “underweight” rating in a report on Friday, October 31st. DA Davidson lifted their price objective on shares of Apple from $250.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Moffett Nathanson raised shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price on the stock in a research report on Thursday, September 4th. Finally, Evercore ISI raised their price target on shares of Apple from $290.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $278.22.

Insiders Place Their Bets

In related news, insider Chris Kondo sold 3,752 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $271.23, for a total transaction of $1,017,654.96. Following the sale, the insider directly owned 15,098 shares of the company’s stock, valued at approximately $4,095,030.54. This represents a 19.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 129,963 shares of the firm’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total value of $33,375,798.03. Following the transaction, the chief executive officer owned 3,280,295 shares in the company, valued at $842,412,558.95. This trade represents a 3.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 228,052 shares of company stock worth $58,604,588. Corporate insiders own 0.06% of the company’s stock.

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.