Steigerwald Gordon & Koch Inc. Has $47.91 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Steigerwald Gordon & Koch Inc. grew its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.6% in the third quarter, Holdings Channel reports. The institutional investor owned 205,599 shares of the iPhone maker’s stock after purchasing an additional 1,132 shares during the period. Apple accounts for approximately 5.2% of Steigerwald Gordon & Koch Inc.’s holdings, making the stock its biggest position. Steigerwald Gordon & Koch Inc.’s holdings in Apple were worth $47,905,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Hershey Financial Advisers LLC bought a new stake in shares of Apple in the second quarter valued at about $42,000. Hoese & Co LLP lifted its stake in shares of Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after buying an additional 57 shares during the period. Sage Financial Group Inc. bought a new stake in shares of Apple in the second quarter valued at about $206,000. Benchmark Wealth Management LLC bought a new stake in shares of Apple in the second quarter valued at about $208,000. Finally, SMH Capital Advisors Inc. bought a new stake in shares of Apple in the second quarter valued at about $209,000. Institutional investors own 60.41% of the company’s stock.

Apple Price Performance

Shares of AAPL stock opened at $234.93 on Thursday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The firm has a market capitalization of $3.55 trillion, a price-to-earnings ratio of 38.64, a price-to-earnings-growth ratio of 2.28 and a beta of 1.24. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The firm has a fifty day moving average of $228.71 and a 200-day moving average of $219.12.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same quarter in the previous year, the business earned $1.46 EPS. The firm’s revenue was up 6.1% on a year-over-year basis. On average, equities research analysts forecast that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.43%. Apple’s dividend payout ratio is currently 16.45%.

Insider Activity at Apple

In other Apple news, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the sale, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at $42,309,126.60. The trade was a 24.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AAPL. Evercore ISI reiterated a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Thursday, September 26th. Piper Sandler restated a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. Moffett Nathanson cut their price target on shares of Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a research note on Tuesday, November 19th. Wedbush restated an “outperform” rating and set a $285.00 price target on shares of Apple in a research note on Monday, September 9th. Finally, Barclays cut their price target on shares of Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $235.25.

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.