JDM Financial Group LLC Purchases 365 Shares of Apple Inc. (NASDAQ:AAPL)

JDM Financial Group LLC boosted its stake in Apple Inc. (NASDAQ:AAPL) by 1.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,903 shares of the iPhone maker’s stock after purchasing an additional 365 shares during the quarter. Apple comprises about 2.6% of JDM Financial Group LLC’s investment portfolio, making the stock its 11th largest holding. JDM Financial Group LLC’s holdings in Apple were worth $4,870,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AAPL. Bull Oak Capital LLC increased its holdings in Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares during the last quarter. Hershey Financial Advisers LLC bought a new stake in Apple in the second quarter valued at about $42,000. Christopher J. Hasenberg Inc increased its holdings in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the last quarter. Teachers Insurance & Annuity Association of America bought a new stake in Apple in the third quarter valued at about $77,000. Finally, ARK Investment Management LLC bought a new stake in Apple in the third quarter valued at about $110,000. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

NASDAQ AAPL opened at $236.87 on Thursday. The firm has a 50-day moving average of $240.82 and a 200-day moving average of $231.30. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The stock has a market cap of $3.56 trillion, a PE ratio of 37.60, a P/E/G ratio of 2.32 and a beta of 1.20. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, sell-side analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 13th. Investors of record on Monday, February 10th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Monday, February 10th. Apple’s dividend payout ratio is 15.87%.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the firm’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 transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AAPL. Moffett Nathanson restated a “sell” rating and issued a $188.00 price target (down from $202.00) on shares of Apple in a report on Tuesday, January 7th. Wedbush restated an “outperform” rating and issued a $325.00 price target on shares of Apple in a report on Thursday, January 23rd. Citigroup increased their price target on Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Monness Crespi & Hardt increased their price target on Apple to $245.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company increased their price target on Apple to $275.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $242.52.

Apple 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.