Apple Inc. $AAPL is Midwest Financial Group LLC's 5th Largest Position

Key Points

• Midwest Financial Group LLC reduced its stake in Apple Inc. by 11.7% in Q2, now holding 31,596 shares, which represents about 3.4% of their total portfolio and makes it their 5th largest position.
• Major institutional investors have increased their holdings in Apple, with Vanguard Group Inc. owning 1.4 billion shares and Kingstone Capital Partners Texas LLC experiencing a significant 573,627.2% increase in their shares.
• Apple's CFO and SVP have recently sold shares, with the CFO decreasing their position by 32.39% and the SVP by 20.83%, indicating insider movements in the company shares.

Midwest Financial Group LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 11.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,596 shares of the iPhone maker's stock after selling 4,200 shares during the quarter. Apple comprises about 3.4% of Midwest Financial Group LLC's holdings, making the stock its 5th largest position. Midwest Financial Group LLC's holdings in Apple were worth $6,482,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Apple by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker's stock worth $311,157,662,000 after purchasing an additional 5,005,297 shares in the last quarter. Kingstone Capital Partners Texas LLC boosted its holdings 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 purchasing an additional 205,656,808 shares in the last quarter. Northern Trust Corp boosted its holdings 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 purchasing an additional 20,079,472 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Apple by 14.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock worth $26,220,566,000 after purchasing an additional 13,137,968 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Apple by 1.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 98,099,909 shares of the iPhone maker's stock worth $21,790,933,000 after purchasing an additional 984,157 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Apple news, CFO Kevan Parekh sold 4,199 shares of the stock in a transaction that occurred on 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 owned 8,765 shares in the company, valued at approximately $2,168,373.35. This trade represents a 32.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction that occurred on 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 completion of the sale, 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 259,121 shares of company stock worth $65,358,981. Corporate insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of research reports. Morgan Stanley set a $298.00 price objective on Apple and gave the stock an "overweight" rating in a report on Thursday, October 2nd. Citigroup reiterated a "buy" rating on shares of Apple in a report on Wednesday, September 10th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Apple in a report on Wednesday, October 8th. Rosenblatt Securities increased their target price on Apple from $223.00 to $241.00 and gave the company a "neutral" rating in a report on Wednesday, September 10th. Finally, Jefferies Financial Group cut Apple from a "hold" rating to an "underperform" rating and dropped their target price for the company from $205.82 to $205.16 in a report on Friday, October 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $248.29.

Apple Trading Up 2.0%

NASDAQ AAPL opened at $252.29 on Monday. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a 50 day simple moving average of $241.13 and a two-hundred day simple moving average of $216.91. The stock has a market cap of $3.74 trillion, a P/E ratio of 38.28, a price-to-earnings-growth ratio of 2.46 and a beta of 1.09.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping 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 during the quarter, compared to analysts' expectations of $88.64 billion. During the same quarter last year, the business posted $1.40 EPS. The business's revenue was up 9.6% on a year-over-year basis. On average, analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued 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 dividend payout ratio (DPR) is 15.78%.

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.

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