GFG Capital LLC Has $23.19 Million Holdings in Apple Inc. $AAPL

Key Points

• GFG Capital LLC holds apple as its third largest position, owning 104,377 shares after a 7.7% reduction in its stake this quarter.
• In the fourth quarter, several institutional investors increased their positions in Apple, with Brighton Jones LLC boosting its stake by 14.8% to 537,314 shares.
• Apple announced a quarterly dividend of $0.26 per share, reflecting a 0.4% dividend yield and initiated a $100 billion share repurchase program.

GFG Capital LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 7.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 104,377 shares of the iPhone maker's stock after selling 8,665 shares during the period. Apple comprises approximately 6.8% of GFG Capital LLC's holdings, making the stock its 3rd largest position. GFG Capital LLC's holdings in Apple were worth $23,185,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Burkett Financial Services LLC lifted its position in Apple by 0.6% in the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock worth $3,199,000 after purchasing an additional 93 shares during the period. Avid Wealth Partners LLC boosted its position in shares of Apple by 28.3% during the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock valued at $935,000 after acquiring an additional 930 shares in the last quarter. OneAscent Wealth Management LLC increased its stake in Apple by 4.6% in the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock valued at $2,337,000 after acquiring an additional 409 shares during the period. TruWealth Advisors LLC raised its position in Apple by 2.8% in the first quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker's stock worth $42,045,000 after purchasing an additional 5,120 shares in the last quarter. Finally, Allstate Corp boosted its holdings in Apple by 3,368.2% during the fourth quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock valued at $113,062,000 after purchasing an additional 438,471 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Analyst Ratings Changes

AAPL has been the subject of a number of analyst reports. The Goldman Sachs Group reissued a "buy" rating and set a $266.00 price objective on shares of Apple in a report on Tuesday. BMO Capital Markets reissued a "buy" rating on shares of Apple in a report on Wednesday, August 13th. Evercore ISI reaffirmed an "outperform" rating and set a $250.00 price target on shares of Apple in a report on Wednesday, August 13th. Needham & Company LLC reissued a "hold" rating on shares of Apple in a research note on Friday, July 25th. Finally, Monness Crespi & Hardt raised their target price on Apple from $245.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $237.37.

Insider Activity at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the transaction, the senior vice president directly owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Apple Trading Down 0.2%

Shares of AAPL stock traded down $0.42 during trading hours on Friday, reaching $232.14. The company had a trading volume of 39,382,353 shares, compared to its average volume of 58,935,340. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market cap of $3.45 trillion, a price-to-earnings ratio of 35.23, a P/E/G ratio of 2.43 and a beta of 1.16. The company has a 50 day moving average of $215.79 and a 200 day moving average of $213.08.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results 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. The company had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the business posted $1.40 earnings per share. On average, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid a dividend of $0.26 per share. 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 dividend payout ratio (DPR) is currently 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.