Greater Midwest Financial Group LLC Has $10.67 Million Position in Apple Inc. $AAPL

Greater Midwest Financial Group LLC lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 11.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,030 shares of the iPhone maker's stock after selling 6,157 shares during the quarter. Apple accounts for about 7.4% of Greater Midwest Financial Group LLC's portfolio, making the stock its 5th largest position. Greater Midwest Financial Group LLC's holdings in Apple were worth $10,669,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of AAPL. Norges Bank bought a new position in Apple during the fourth quarter valued at $46,868,648,000. GAMMA Investing LLC lifted its position in Apple by 25,934.1% during the first quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker's stock valued at $133,425,490,000 after purchasing an additional 59,835,676 shares during the last quarter. Vanguard Group Inc. lifted its position in Apple by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock valued at $349,532,608,000 after purchasing an additional 49,168,843 shares during the last quarter. Proficio Capital Partners LLC lifted its position in Apple by 23,555.4% during the fourth quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock valued at $5,272,653,000 after purchasing an additional 20,966,232 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after purchasing an additional 20,079,472 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

Apple Trading Up 0.9%

AAPL stock opened at $232.56 on Friday. The company has a market capitalization of $3.45 trillion, a PE ratio of 35.29, a P/E/G ratio of 2.41 and a beta of 1.16. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The firm's 50-day moving average is $215.17 and its 200 day moving average is $213.08. 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 - Get Free Report) last posted its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company's revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.40 EPS. On average, research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple's dividend payout ratio (DPR) is 15.78%.

Apple declared that its board has approved a share repurchase plan on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have commented on AAPL shares. Loop Capital lowered their price objective on shares of Apple from $230.00 to $226.00 and set a "hold" rating for the company in a research report on Thursday, August 21st. Wedbush restated an "outperform" rating and issued a $270.00 target price on shares of Apple in a report on Thursday, August 7th. Barclays raised their target price on shares of Apple from $173.00 to $180.00 and gave the stock an "underweight" rating in a report on Friday, August 1st. Jefferies Financial Group upgraded shares of Apple from an "underperform" rating to a "hold" rating in a report on Friday, July 18th. Finally, Needham & Company LLC restated a "hold" rating on shares of Apple in a report on Friday, July 25th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Apple has a consensus rating of "Moderate Buy" and an average target price of $237.37.

Insider Buying and Selling

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the transaction, the senior vice president owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.06% of the company's stock.

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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