Baltimore Washington Financial Advisors Inc. Has $46.55 Million Holdings in Apple Inc. $AAPL

Baltimore Washington Financial Advisors Inc. grew its stake in Apple Inc. (NASDAQ:AAPL) by 4.1% during the second quarter, HoldingsChannel reports. The firm owned 226,876 shares of the iPhone maker’s stock after buying an additional 8,983 shares during the quarter. Apple accounts for about 2.2% of Baltimore Washington Financial Advisors Inc.’s investment portfolio, making the stock its 12th largest holding. Baltimore Washington Financial Advisors Inc.’s holdings in Apple were worth $46,548,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Ryan Investment Management Inc. acquired a new position in shares of Apple in the second quarter valued at approximately $31,000. ROSS JOHNSON & Associates LLC grew its holdings in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 180 shares during the last quarter. Nexus Investment Management ULC increased its position in Apple by 333.3% in the 2nd quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock valued at $53,000 after acquiring an additional 200 shares during the period. LSV Asset Management acquired a new position in Apple in the 4th quarter valued at approximately $65,000. Finally, Elite Financial Inc. bought a new stake in shares of Apple in the first quarter worth $58,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Chris Kondo sold 3,752 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $271.23, for a total transaction of $1,017,654.96. Following the completion of the transaction, the insider owned 15,098 shares in the company, valued at approximately $4,095,030.54. This represents a 19.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy D. Cook sold 129,963 shares of Apple stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the completion of the sale, the chief executive officer directly owned 3,280,295 shares in the company, valued at $842,412,558.95. This trade represents a 3.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 228,052 shares of company stock worth $58,604,588. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Up 0.6%

NASDAQ:AAPL opened at $278.78 on Thursday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.89 and a quick ratio of 0.86. Apple Inc. has a one year low of $169.21 and a one year high of $288.62. The company has a market cap of $4.12 trillion, a PE ratio of 37.32, a PEG ratio of 2.59 and a beta of 1.10. The firm has a 50-day moving average of $267.42 and a 200-day moving average of $235.90.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. The business had revenue of $102.47 billion during the quarter, compared to the consensus estimate of $101.65 billion. Apple had a return on equity of 164.05% and a net margin of 26.92%.The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.64 EPS. As a group, equities research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, November 10th were issued a dividend of $0.26 per share. The ex-dividend date was Monday, November 10th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple’s payout ratio is 13.92%.

Analysts Set New Price Targets

Several brokerages recently commented on AAPL. Melius upped their target price on Apple from $290.00 to $345.00 and gave the company a “buy” rating in a report on Friday, October 31st. Wells Fargo & Company set a $300.00 price target on Apple and gave the stock an “overweight” rating in a report on Friday, October 31st. HSBC set a $220.00 target price on Apple and gave the stock a “hold” rating in a research note on Monday, September 8th. Jefferies Financial Group raised Apple from an “underperform” rating to a “hold” rating and boosted their price target for the company from $203.07 to $246.99 in a research note on Friday, October 31st. Finally, Wall Street Zen cut Apple from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $282.51.

About Apple

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.