Apple Inc. $AAPL is GC Wealth Management RIA LLC's 5th Largest Position

Key Points

• GC Wealth Management RIA LLC increased its investment in Apple Inc. by 106.2% in the second quarter, making it the fund's 5th largest position with holdings valued at approximately $46.9 million.
• Apple's recent quarterly earnings report revealed a revenue of $94.04 billion, surpassing analysts' expectations, while it reported a net margin of 24.30% and earnings per share (EPS) of $1.57.
• The company also declared a quarterly dividend of $0.26 per share, resulting in an annualized dividend yield of 0.4%.

GC Wealth Management RIA LLC grew its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 106.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 228,720 shares of the iPhone maker's stock after purchasing an additional 117,785 shares during the period. Apple makes up approximately 3.8% of GC Wealth Management RIA LLC's holdings, making the stock its 5th largest position. GC Wealth Management RIA LLC's holdings in Apple were worth $46,926,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Ryan Investment Management Inc. purchased a new position in Apple in the 2nd quarter worth approximately $31,000. ROSS JOHNSON & Associates LLC raised its stake in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after buying an additional 180 shares during the last quarter. LSV Asset Management purchased a new stake in Apple during the 4th quarter valued at $65,000. Elite Financial Inc. purchased a new stake in Apple during the 1st quarter valued at $58,000. Finally, HFM Investment Advisors LLC bought a new stake in shares of Apple during the 1st quarter valued at $99,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Up 0.6%

Shares of AAPL stock opened at $249.34 on Thursday. The stock has a market cap of $3.70 trillion, a P/E ratio of 37.84, a PEG ratio of 2.41 and a beta of 1.09. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The company's fifty day simple moving average is $240.12 and its two-hundred day simple moving average is $216.49.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion for the quarter, compared to analysts' expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business's quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.40 EPS. Analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were paid a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple's payout ratio is presently 15.78%.

Insiders Place Their Bets

In related news, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the transaction, the senior vice president owned 179,158 shares of the company's stock, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Deirdre O'brien sold 43,013 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the completion of the transaction, the senior vice president directly owned 136,687 shares of the company's stock, valued at approximately $35,181,866.93. The trade was a 23.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,922 shares of company stock worth $64,320,190 in the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Seaport Res Ptn raised shares of Apple to a "strong-buy" rating in a research report on Wednesday, October 1st. Weiss Ratings reissued a "hold (c+)" rating on shares of Apple in a research report on Wednesday, October 8th. CLSA raised shares of Apple to a "strong-buy" rating in a report on Sunday, October 5th. DA Davidson reaffirmed a "neutral" rating and issued a $250.00 target price on shares of Apple in a report on Thursday, September 11th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $266.00 target price on shares of Apple in a report on Tuesday, August 26th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $248.29.

Apple 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.

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