Apple Inc. (NASDAQ:AAPL) is Burr Financial Services LLC’s 7th Largest Position

Burr Financial Services LLC grew its stake in Apple Inc. (NASDAQ:AAPL) by 170.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,553 shares of the iPhone maker’s stock after acquiring an additional 18,613 shares during the quarter. Apple accounts for 4.3% of Burr Financial Services LLC’s portfolio, making the stock its 7th biggest holding. Burr Financial Services LLC’s holdings in Apple were worth $6,224,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of AAPL. Yeomans Consulting Group Inc. purchased a new position in Apple in the fourth quarter worth about $1,713,000. Raleigh Capital Management Inc. lifted its position in Apple by 11.8% in the 4th quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock valued at $2,986,000 after acquiring an additional 1,643 shares in the last quarter. GLOBALT Investments LLC GA purchased a new stake in Apple during the 4th quarter valued at $38,406,000. Barden Capital Management Inc. boosted its stake in Apple by 132.8% during the 4th quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock valued at $6,283,000 after purchasing an additional 18,615 shares during the last quarter. Finally, Sunpointe LLC bought a new stake in shares of Apple in the 4th quarter worth $4,782,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on AAPL. DA Davidson raised Apple from a “neutral” rating to a “buy” rating and increased their price objective for the company from $200.00 to $230.00 in a research report on Tuesday, June 11th. Moffett Nathanson began coverage on shares of Apple in a report on Monday, August 19th. They set a “neutral” rating and a $211.00 price target on the stock. Raymond James boosted their price objective on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Tigress Financial raised their target price on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. Finally, Bank of America reiterated a “buy” rating and set a $256.00 target price on shares of Apple in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.17.

Insider Buying and Selling at Apple

In related news, SVP Katherine L. Adams sold 100,000 shares of Apple 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 owns 191,543 shares in the company, valued at approximately $39,542,136.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction on Monday, August 5th. The stock was 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 owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Chris Kondo sold 8,706 shares of Apple 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 completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,469,275. The disclosure for this sale can be found here. Insiders sold 113,884 shares of company stock worth $23,723,887 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

Apple stock opened at $228.20 on Monday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.23. The company has a market cap of $3.50 trillion, a price-to-earnings ratio of 35.49, a PEG ratio of 2.62 and a beta of 1.24. The firm’s fifty day moving average is $222.41 and its 200 day moving average is $200.41. 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 announced 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 firm had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter last year, the firm earned $1.26 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. Sell-side analysts forecast that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Announces Dividend

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