First Horizon Advisors Inc. Boosts Stake in Apple Inc. (NASDAQ:AAPL)

First Horizon Advisors Inc. increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 344,192 shares of the iPhone maker’s stock after purchasing an additional 6,793 shares during the period. Apple makes up approximately 2.2% of First Horizon Advisors Inc.’s investment portfolio, making the stock its 3rd largest holding. First Horizon Advisors Inc.’s holdings in Apple were worth $72,494,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. grew its holdings in Apple by 1.4% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 9,368,403 shares of the iPhone maker’s stock valued at $1,973,173,000 after purchasing an additional 131,965 shares during the period. Brand Asset Management Group Inc. boosted its position in shares of Apple by 23.3% during the second quarter. Brand Asset Management Group Inc. now owns 7,006 shares of the iPhone maker’s stock worth $1,476,000 after purchasing an additional 1,322 shares in the last quarter. Sara Bay Financial grew its holdings in shares of Apple by 4.9% in the 2nd quarter. Sara Bay Financial now owns 21,737 shares of the iPhone maker’s stock valued at $4,578,000 after buying an additional 1,021 shares during the period. Boston Mountain Money Management Inc. grew its holdings in shares of Apple by 0.9% in the 2nd quarter. Boston Mountain Money Management Inc. now owns 7,454 shares of the iPhone maker’s stock valued at $1,570,000 after buying an additional 68 shares during the period. Finally, Platte River Wealth Advisors LLC increased its position in shares of Apple by 0.8% in the 2nd quarter. Platte River Wealth Advisors LLC now owns 63,923 shares of the iPhone maker’s stock valued at $13,463,000 after buying an additional 490 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Apple Price Performance

Shares of NASDAQ AAPL opened at $228.20 on Friday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.23. The company has a market cap of $3.50 trillion, a PE ratio of 35.49, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. The business’s 50 day moving average price is $222.41 and its two-hundred day moving average price is $199.99. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. During the same period in the previous year, the firm earned $1.26 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. On average, analysts predict that Apple Inc. will post 6.7 EPS for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s payout ratio is presently 15.55%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AAPL shares. Raymond James boosted their target price on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Morgan Stanley reiterated an “overweight” rating and issued a $273.00 price objective on shares of Apple in a research report on Tuesday, September 10th. Robert W. Baird increased their target price on Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Moffett Nathanson initiated coverage on shares of Apple in a research note on Monday, August 19th. They issued a “neutral” rating and a $211.00 price target on the stock. Finally, Erste Group Bank upgraded shares of Apple from a “hold” rating to a “buy” rating in a report on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $239.17.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,469,275. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,469,275. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,884 shares of company stock worth $23,723,887. 0.06% of the stock is owned by insiders.

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.