Garrett Wealth Advisory Group LLC Acquires 9,411 Shares of Apple Inc. (NASDAQ:AAPL)

Garrett Wealth Advisory Group LLC raised its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 31.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,975 shares of the iPhone maker’s stock after purchasing an additional 9,411 shares during the quarter. Apple accounts for approximately 3.0% of Garrett Wealth Advisory Group LLC’s portfolio, making the stock its 11th largest position. Garrett Wealth Advisory Group LLC’s holdings in Apple were worth $8,209,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of AAPL. Sarasin & Partners LLP grew its stake in shares of Apple by 30.0% in the 2nd quarter. Sarasin & Partners LLP now owns 3,029,334 shares of the iPhone maker’s stock worth $638,038,000 after acquiring an additional 698,732 shares in the last quarter. Financial Partners Group Inc grew its stake in shares of Apple by 0.5% in the 2nd quarter. Financial Partners Group Inc now owns 105,936 shares of the iPhone maker’s stock worth $22,312,000 after acquiring an additional 498 shares in the last quarter. Demars Financial Group LLC grew its stake in shares of Apple by 1.7% in the 2nd quarter. Demars Financial Group LLC now owns 41,203 shares of the iPhone maker’s stock worth $8,678,000 after acquiring an additional 704 shares in the last quarter. KFG Wealth Management LLC grew its stake in shares of Apple by 1.3% in the 2nd quarter. KFG Wealth Management LLC now owns 24,249 shares of the iPhone maker’s stock worth $5,107,000 after acquiring an additional 305 shares in the last quarter. Finally, Williams Financial LLC bought a new stake in shares of Apple in the 2nd quarter worth $12,630,000. Institutional investors own 60.41% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on AAPL shares. Morgan Stanley reiterated an “overweight” rating and issued a $273.00 target price on shares of Apple in a research note on Tuesday, September 10th. Erste Group Bank raised shares of Apple from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Melius Research reissued a “buy” rating and issued a $265.00 price target on shares of Apple in a report on Tuesday, August 27th. DA Davidson raised shares of Apple from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $200.00 to $230.00 in a report on Tuesday, June 11th. Finally, Piper Sandler Companies reissued a “neutral” rating and issued a $225.00 price target (up from $190.00) on shares of Apple in a report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $239.17.

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 8,706 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The disclosure for this sale can be found here. Insiders have sold 113,884 shares of company stock worth $23,723,887 over the last ninety days. Insiders own 0.06% of the company’s stock.

Apple Stock Up 1.8 %

AAPL stock opened at $220.69 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The company’s 50 day moving average is $222.43 and its 200 day moving average is $199.41. The stock has a market cap of $3.38 trillion, a price-to-earnings ratio of 34.32, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.23.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. During the same period last year, the business earned $1.26 earnings per share. The business’s quarterly revenue was up 4.9% on a year-over-year basis. Sell-side analysts predict that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s payout ratio is currently 15.55%.

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.