Midwest Financial Group LLC Has $6.48 Million Stake in Apple Inc. $AAPL

Midwest Financial Group LLC decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 11.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,596 shares of the iPhone maker’s stock after selling 4,200 shares during the period. Apple comprises about 3.4% of Midwest Financial Group LLC’s investment portfolio, making the stock its 5th biggest holding. Midwest Financial Group LLC’s holdings in Apple were worth $6,482,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Kingstone Capital Partners Texas LLC boosted its stake in shares of Apple by 573,627.2% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock worth $39,065,374,000 after buying an additional 205,656,808 shares during the last quarter. Nuveen LLC purchased a new position in shares of Apple in the 1st quarter worth $17,472,482,000. GAMMA Investing LLC boosted its stake in shares of Apple by 25,934.1% in the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock worth $133,425,490,000 after buying an additional 59,835,676 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after buying an additional 20,079,472 shares during the last quarter. Finally, Amundi boosted its stake in shares of Apple by 27.4% in the 1st quarter. Amundi now owns 68,190,569 shares of the iPhone maker’s stock worth $13,870,795,000 after buying an additional 14,651,321 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the sale, the senior vice president directly owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kevan Parekh sold 4,199 shares of Apple stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $247.39, for a total value of $1,038,790.61. Following the completion of the sale, the chief financial officer directly owned 8,765 shares in the company, valued at $2,168,373.35. This trade represents a 32.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 259,121 shares of company stock valued at $65,358,981. 0.06% of the stock is owned by company insiders.

Apple Price Performance

Shares of Apple stock opened at $252.29 on Monday. The stock’s 50-day simple moving average is $241.13 and its 200-day simple moving average is $216.91. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a market capitalization of $3.74 trillion, a price-to-earnings ratio of 38.28, a PEG ratio of 2.46 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. During the same period in the previous year, the business earned $1.40 earnings per share. The business’s revenue was up 9.6% on a year-over-year basis. As a group, analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s payout ratio is 15.78%.

Analyst Ratings Changes

AAPL has been the topic of a number of research reports. Needham & Company LLC restated a “hold” rating on shares of Apple in a research note on Friday, July 25th. Barclays raised their price target on Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a research note on Friday, August 1st. Raymond James Financial reissued an “outperform” rating and set a $240.00 price target (up previously from $230.00) on shares of Apple in a report on Friday, August 1st. Citigroup reaffirmed a “buy” rating on shares of Apple in a research note on Wednesday, September 10th. Finally, Tigress Financial lifted their price objective on Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a research report on Wednesday, September 17th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $248.29.

About Apple

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.