Gemmer Asset Management LLC Has $12.15 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Gemmer Asset Management LLC boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 20.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,151 shares of the iPhone maker's stock after buying an additional 9,013 shares during the period. Apple comprises 1.2% of Gemmer Asset Management LLC's portfolio, making the stock its 25th largest holding. Gemmer Asset Management LLC's holdings in Apple were worth $12,151,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Lantz Financial LLC grew its position in Apple by 8.6% in the second quarter. Lantz Financial LLC now owns 29,751 shares of the iPhone maker's stock valued at $6,266,000 after acquiring an additional 2,361 shares during the period. Trinity Financial Advisors LLC lifted its holdings in Apple by 2.3% during the 2nd quarter. Trinity Financial Advisors LLC now owns 29,427 shares of the iPhone maker's stock valued at $6,198,000 after purchasing an additional 653 shares during the last quarter. Foresight Capital Management Advisors Inc. lifted its holdings in Apple by 0.3% during the 2nd quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker's stock valued at $4,003,000 after purchasing an additional 55 shares during the last quarter. MADDEN SECURITIES Corp boosted its position in Apple by 0.3% in the second quarter. MADDEN SECURITIES Corp now owns 31,487 shares of the iPhone maker's stock valued at $6,632,000 after buying an additional 90 shares in the last quarter. Finally, Guinness Asset Management LTD grew its stake in Apple by 3.8% during the second quarter. Guinness Asset Management LTD now owns 156,985 shares of the iPhone maker's stock worth $33,074,000 after buying an additional 5,759 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

Insiders Place Their Bets

In other news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares of the company's stock, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Chris Kondo sold 4,130 shares of the company's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 508,170 shares of company stock valued at $117,004,745 in the last 90 days. 0.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AAPL. Oppenheimer reissued a "buy" rating and issued a $250.00 target price on shares of Apple in a report on Tuesday, October 1st. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $265.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Maxim Group raised their target price on Apple from $203.00 to $215.00 and gave the company a "hold" rating in a research note on Friday, November 1st. Wells Fargo & Company upped their price target on shares of Apple to $275.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Finally, KeyCorp cut shares of Apple from a "sector weight" rating to an "underweight" rating and set a $200.00 price objective for the company. in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $237.47.

Apple Stock Down 1.3 %

Shares of AAPL stock traded down $3.43 during trading on Friday, reaching $255.59. The company's stock had a trading volume of 42,297,621 shares, compared to its average volume of 57,290,680. Apple Inc. has a one year low of $164.07 and a one year high of $260.10. The business has a fifty day moving average price of $237.41 and a 200-day moving average price of $227.89. The company has a market cap of $3.86 trillion, a price-to-earnings ratio of 42.04, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL - Get Free Report) last issued 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. The firm had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company's revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.46 EPS. Analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.39%. Apple's dividend payout ratio is 16.45%.

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.