Apple Inc. (AAPL) is Dearborn Partners LLC’s 2nd Largest Position

Dearborn Partners LLC raised its stake in Apple Inc. (NASDAQ:AAPL) by 3.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 196,053 shares of the iPhone maker’s stock after buying an additional 6,689 shares during the period. Apple comprises about 3.1% of Dearborn Partners LLC’s investment portfolio, making the stock its 2nd biggest position. Dearborn Partners LLC’s holdings in Apple were worth $44,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Gibraltar Capital Management Inc. boosted its position in Apple by 0.4% during the 3rd quarter. Gibraltar Capital Management Inc. now owns 59,517 shares of the iPhone maker’s stock valued at $13,435,000 after buying an additional 235 shares during the period. Capital Investment Services of America Inc. boosted its position in Apple by 10.0% during the 3rd quarter. Capital Investment Services of America Inc. now owns 2,703 shares of the iPhone maker’s stock valued at $610,000 after buying an additional 245 shares during the period. Anderson Hoagland & Co. boosted its position in Apple by 1.3% during the 3rd quarter. Anderson Hoagland & Co. now owns 19,900 shares of the iPhone maker’s stock valued at $4,551,000 after buying an additional 250 shares during the period. Boothe Investment Group Inc. boosted its position in Apple by 1.6% during the 3rd quarter. Boothe Investment Group Inc. now owns 16,577 shares of the iPhone maker’s stock valued at $3,742,000 after buying an additional 256 shares during the period. Finally, MinichMacGregor Wealth Management LLC boosted its position in Apple by 13.5% during the 3rd quarter. MinichMacGregor Wealth Management LLC now owns 2,168 shares of the iPhone maker’s stock valued at $492,000 after buying an additional 258 shares during the period. 57.00% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:AAPL opened at $174.18 on Wednesday. Apple Inc. has a 12 month low of $142.00 and a 12 month high of $233.47. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.30 and a quick ratio of 1.25. The stock has a market capitalization of $841.72 billion, a PE ratio of 14.62, a P/E/G ratio of 1.75 and a beta of 1.13.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, January 29th. The iPhone maker reported $4.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.17 by $0.01. The company had revenue of $84.31 billion during the quarter, compared to analyst estimates of $84.07 billion. Apple had a net margin of 22.72% and a return on equity of 50.92%. As a group, research analysts forecast that Apple Inc. will post 11.39 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 14th. Investors of record on Monday, February 11th will be paid a $0.73 dividend. The ex-dividend date of this dividend is Friday, February 8th. This represents a $2.92 annualized dividend and a dividend yield of 1.68%. Apple’s payout ratio is 24.52%.

Several brokerages have weighed in on AAPL. Nomura reissued a “neutral” rating and set a $185.00 price target on shares of Apple in a research report on Monday, November 5th. UBS Group reissued a “buy” rating and set a $180.00 price target on shares of Apple in a research report on Monday, January 14th. Sanford C. Bernstein reissued a “neutral” rating and set a $200.00 price target on shares of Apple in a research report on Monday, October 22nd. Goldman Sachs Group reissued a “neutral” rating and set a $182.00 price target (down previously from $209.00) on shares of Apple in a research report on Tuesday, November 20th. Finally, Macquarie reissued a “buy” rating and set a $235.00 price target on shares of Apple in a research report on Monday, October 29th. Two analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and twenty-two have issued a buy rating to the company. Apple currently has an average rating of “Hold” and a consensus price target of $191.66.

In related news, Director Arthur D. Levinson sold 1,521 shares of the stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $167.71, for a total value of $255,086.91. Following the completion of the transaction, the director now directly owns 1,134,804 shares in the company, valued at approximately $190,317,978.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 3,408 shares of the stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $190.00, for a total transaction of $647,520.00. Following the completion of the transaction, the insider now owns 8,940 shares of the company’s stock, valued at $1,698,600. The disclosure for this sale can be found here. 0.05% of the stock is owned by company insiders.

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Apple Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

Further Reading: What is the balance sheet?

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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