SevenBridge Financial Group LLC Has $9.46 Million Position in Apple Inc. (AAPL)
SevenBridge Financial Group LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 1.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,388 shares of the iPhone maker’s stock after selling 664 shares during the period. Apple accounts for about 5.4% of SevenBridge Financial Group LLC’s portfolio, making the stock its largest position. SevenBridge Financial Group LLC’s holdings in Apple were worth $9,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of AAPL. Meridian Wealth Management LLC lifted its position in shares of Apple by 4.6% in the 4th quarter. Meridian Wealth Management LLC now owns 17,721 shares of the iPhone maker’s stock worth $2,846,000 after acquiring an additional 783 shares during the period. AMI Investment Management Inc. bought a new stake in shares of Apple in the 4th quarter worth approximately $225,000. Torch Wealth Management LLC lifted its position in shares of Apple by 2.2% in the 4th quarter. Torch Wealth Management LLC now owns 47,929 shares of the iPhone maker’s stock worth $8,111,000 after acquiring an additional 1,038 shares during the period. Fulcrum Capital LLC bought a new stake in shares of Apple in the 4th quarter worth approximately $9,064,000. Finally, Iron Financial LLC lifted its position in shares of Apple by 4.1% in the 4th quarter. Iron Financial LLC now owns 21,161 shares of the iPhone maker’s stock worth $3,581,000 after acquiring an additional 837 shares during the period. 58.61% of the stock is currently owned by institutional investors.
NASDAQ:AAPL opened at $223.10 on Friday. Apple Inc. has a 12-month low of $149.16 and a 12-month high of $229.67. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.24 and a current ratio of 1.31. The firm has a market capitalization of $1,115.10 billion, a PE ratio of 20.57, a P/E/G ratio of 1.76 and a beta of 1.33.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 16th. Stockholders of record on Monday, August 13th were given a $0.73 dividend. The ex-dividend date was Friday, August 10th. This represents a $2.92 annualized dividend and a dividend yield of 1.31%. Apple’s dividend payout ratio is currently 31.70%.
A number of brokerages have recently issued reports on AAPL. Goldman Sachs Group set a $240.00 target price on Apple and gave the stock a “neutral” rating in a report on Friday. Wells Fargo & Co set a $210.00 target price on Apple and gave the stock a “neutral” rating in a report on Wednesday. DA Davidson reissued a “buy” rating and issued a $265.00 target price (up from $230.00) on shares of Apple in a report on Wednesday. Morgan Stanley reaffirmed a “buy” rating and set a $245.00 price target (up from $232.00) on shares of Apple in a report on Wednesday. Finally, Robert W. Baird set a $230.00 target price on Apple and gave the company a “buy” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the stock. Apple has an average rating of “Buy” and an average price target of $225.12.
In other Apple news, CEO Timothy D. Cook sold 265,160 shares of Apple stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $217.79, for a total transaction of $57,749,196.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 15,652 shares of Apple stock in a transaction dated Monday, July 9th. The stock was sold at an average price of $190.18, for a total value of $2,976,697.36. Following the transaction, the chief operating officer now owns 125,258 shares in the company, valued at $23,821,566.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 384,968 shares of company stock worth $82,292,858. Corporate insiders own 0.08% of the company’s stock.
Apple Company Profile
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
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