Pathway Financial Advisors LLC Has $5.77 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Pathway Financial Advisors LLC raised its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 6.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,051 shares of the iPhone maker's stock after purchasing an additional 1,495 shares during the period. Apple accounts for approximately 1.3% of Pathway Financial Advisors LLC's portfolio, making the stock its 16th largest holding. Pathway Financial Advisors LLC's holdings in Apple were worth $5,772,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Drystone LLC acquired a new position in Apple in the fourth quarter valued at $25,000. Bull Oak Capital LLC lifted its holdings in shares of Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker's stock worth $36,000 after acquiring an additional 111 shares during the period. Life Planning Partners Inc acquired a new stake in shares of Apple in the fourth quarter worth approximately $47,000. SPX Gestao de Recursos Ltda acquired a new position in Apple during the third quarter worth approximately $71,000. Finally, Teachers Insurance & Annuity Association of America purchased a new position in Apple during the third quarter worth approximately $77,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AAPL. The Goldman Sachs Group dropped their price objective on Apple from $259.00 to $256.00 and set a "buy" rating for the company in a report on Wednesday. Oppenheimer lowered Apple from an "outperform" rating to a "market perform" rating in a research note on Wednesday, January 29th. Bank of America reduced their price objective on Apple from $250.00 to $240.00 and set a "buy" rating on the stock in a research note on Thursday. China Renaissance initiated coverage on shares of Apple in a report on Tuesday. They issued a "buy" rating and a $241.00 price target on the stock. Finally, Argus upgraded shares of Apple to a "strong-buy" rating in a research note on Friday, January 31st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $233.88.

Apple Stock Up 0.4 %

Shares of NASDAQ:AAPL traded up $0.91 during midday trading on Friday, hitting $209.28. 38,183,408 shares of the stock were exchanged, compared to its average volume of 56,765,391. The company has a market capitalization of $3.14 trillion, a PE ratio of 33.22, a P/E/G ratio of 2.44 and a beta of 1.26. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. Apple Inc. has a 52-week low of $169.11 and a 52-week high of $260.10. The business's fifty day simple moving average is $215.71 and its two-hundred day simple moving average is $229.31.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. As a group, research analysts predict 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, February 13th. Investors of record on Monday, February 10th were paid a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.48%. Apple's payout ratio is presently 15.87%.

Insider Buying and Selling

In other news, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the sale, the chief executive officer now owns 3,280,295 shares of the company's stock, valued at approximately $733,637,976.75. This trade represents a 3.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the transaction, the chief financial officer now owns 4,569 shares of the company's stock, valued at $941,214. The trade was a 50.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 187,021 shares of company stock worth $41,760,140 in the last quarter. 0.06% of the stock is currently owned by company insiders.

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.