Russell Investments Group Ltd. Raises Stake in Apple Inc. (NASDAQ:AAPL)

Russell Investments Group Ltd. lifted its position in Apple Inc. (NASDAQ:AAPL) by 1.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,529,443 shares of the iPhone maker’s stock after buying an additional 94,651 shares during the period. Apple comprises 2.0% of Russell Investments Group Ltd.’s portfolio, making the stock its 2nd largest holding. Russell Investments Group Ltd.’s holdings in Apple were worth $1,207,606,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Bank & Trust boosted its position in shares of Apple by 0.4% during the third quarter. First Bank & Trust now owns 17,600 shares of the iPhone maker’s stock worth $2,491,000 after acquiring an additional 69 shares during the last quarter. Blossom Wealth Management lifted its position in Apple by 1.4% during the third quarter. Blossom Wealth Management now owns 5,197 shares of the iPhone maker’s stock valued at $735,000 after purchasing an additional 70 shares during the last quarter. Gibson Capital LLC lifted its position in Apple by 0.7% during the third quarter. Gibson Capital LLC now owns 9,442 shares of the iPhone maker’s stock valued at $1,330,000 after purchasing an additional 70 shares during the last quarter. FOCUS Wealth Advisors LLC lifted its position in Apple by 0.5% during the third quarter. FOCUS Wealth Advisors LLC now owns 14,609 shares of the iPhone maker’s stock valued at $2,067,000 after purchasing an additional 71 shares during the last quarter. Finally, Copperwynd Financial LLC lifted its position in Apple by 0.5% during the third quarter. Copperwynd Financial LLC now owns 15,581 shares of the iPhone maker’s stock valued at $2,205,000 after purchasing an additional 79 shares during the last quarter. 56.49% of the stock is owned by hedge funds and other institutional investors.

In other news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction dated Monday, November 1st. The shares were sold at an average price of $148.68, for a total value of $3,717,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 9,005 shares of the firm’s stock in a transaction dated Friday, November 12th. The shares were sold at an average price of $150.00, for a total transaction of $1,350,750.00. The disclosure for this sale can be found here. Insiders have sold a total of 218,081 shares of company stock worth $32,383,704 in the last three months. Insiders own 0.06% of the company’s stock.

AAPL has been the subject of several research reports. DZ Bank reiterated a “buy” rating on shares of Apple in a research report on Monday, December 13th. Citigroup increased their price objective on shares of Apple from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, December 22nd. Oppenheimer increased their price objective on shares of Apple from $165.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, October 29th. Zacks Investment Research lowered shares of Apple from a “buy” rating to a “hold” rating and set a $171.00 price objective for the company. in a research report on Monday, November 1st. Finally, Wedbush upgraded shares of Apple to an “outperform” rating and increased their price objective for the company from $185.00 to $200.00 in a research report on Thursday, December 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $176.74.

AAPL stock opened at $173.07 on Friday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.07 and a quick ratio of 1.02. The company has a market capitalization of $2.83 trillion, a PE ratio of 30.80, a P/E/G ratio of 2.37 and a beta of 1.20. The firm’s 50-day moving average is $167.84 and its 200 day moving average is $154.11. Apple Inc. has a 12 month low of $116.21 and a 12 month high of $182.94.

Apple (NASDAQ:AAPL) last posted its earnings results on Wednesday, October 27th. The iPhone maker reported $1.24 EPS for the quarter, meeting analysts’ consensus estimates of $1.24. The business had revenue of $83.40 billion for the quarter, compared to the consensus estimate of $84.94 billion. Apple had a net margin of 25.88% and a return on equity of 144.13%. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.73 EPS. Sell-side analysts forecast that Apple Inc. will post 5.82 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 11th. Shareholders of record on Monday, November 8th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Friday, November 5th. Apple’s dividend payout ratio (DPR) is 15.66%.

About Apple

Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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