Apple Inc. (NASDAQ:AAPL) is Elo Mutual Pension Insurance Co’s 2nd Largest Position

Elo Mutual Pension Insurance Co trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,339,988 shares of the iPhone maker’s stock after selling 2,155 shares during the period. Apple accounts for about 6.6% of Elo Mutual Pension Insurance Co’s holdings, making the stock its 2nd biggest holding. Elo Mutual Pension Insurance Co’s holdings in Apple were worth $282,228,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Access Investment Management LLC purchased a new position in Apple in the 1st quarter valued at about $140,000. Hoese & Co LLP boosted its position in Apple by 6.7% in the 2nd 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 last quarter. Sage Financial Group Inc. purchased a new position in Apple in the 2nd quarter valued at about $206,000. Benchmark Wealth Management LLC purchased a new position in Apple in the 2nd quarter valued at about $208,000. Finally, Sequent Asset Management LLC acquired a new stake in shares of Apple in the 2nd quarter valued at about $214,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Apple

In related news, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the sale, the insider now owns 15,419 shares in the company, valued at approximately $3,469,275. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the sale, the chief operating officer now owns 489,944 shares in the company, valued at $111,148,695.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chris Kondo sold 8,706 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 417,924 shares of company stock worth $94,142,399. 0.06% of the stock is owned by corporate insiders.

Apple Trading Up 0.6 %

Shares of NASDAQ:AAPL opened at $223.45 on Wednesday. The stock has a market capitalization of $3.40 trillion, a price-to-earnings ratio of 36.75, a PEG ratio of 2.39 and a beta of 1.24. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The company has a 50 day moving average price of $226.98 and a 200 day moving average price of $213.44.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.46 EPS. On average, research analysts anticipate that Apple Inc. will post 7.45 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be given a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AAPL. Moffett Nathanson began coverage on shares of Apple in a research note on Monday, August 19th. They issued a “neutral” rating and a $211.00 target price on the stock. Bank of America restated a “buy” rating and issued a $256.00 target price on shares of Apple in a research note on Thursday, October 3rd. The Goldman Sachs Group upped their target price on shares of Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Evercore ISI restated a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Thursday, September 26th. Finally, Maxim Group upped their target price on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.51.

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.