Apple Inc. (NASDAQ:AAPL) is First Dallas Securities Inc.’s 3rd Largest Position

First Dallas Securities Inc. lowered its position in Apple Inc. (NASDAQ:AAPL) by 25.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,340 shares of the iPhone maker’s stock after selling 23,735 shares during the quarter. Apple makes up approximately 6.6% of First Dallas Securities Inc.’s portfolio, making the stock its 3rd biggest position. First Dallas Securities Inc.’s holdings in Apple were worth $15,026,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Chase Investment Counsel Corp boosted its stake in Apple by 795.4% in the second quarter. Chase Investment Counsel Corp now owns 34,696 shares of the iPhone maker’s stock worth $7,705,000 after buying an additional 30,821 shares in the last quarter. Nicholas Hoffman & Company LLC. boosted its stake in Apple by 5.2% in the second quarter. Nicholas Hoffman & Company LLC. now owns 119,573 shares of the iPhone maker’s stock worth $25,185,000 after buying an additional 5,878 shares in the last quarter. Unison Asset Management LLC boosted its stake in Apple by 0.7% in the second quarter. Unison Asset Management LLC now owns 29,002 shares of the iPhone maker’s stock worth $6,108,000 after buying an additional 189 shares in the last quarter. Impact Partnership Wealth LLC boosted its stake in shares of Apple by 17.6% during the second quarter. Impact Partnership Wealth LLC now owns 41,584 shares of the iPhone maker’s stock valued at $8,758,000 after purchasing an additional 6,218 shares during the period. Finally, Deseret Mutual Benefit Administrators boosted its stake in shares of Apple by 2.8% during the second quarter. Deseret Mutual Benefit Administrators now owns 22,609 shares of the iPhone maker’s stock valued at $4,762,000 after purchasing an additional 611 shares during the period. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $235.00 on Friday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The business has a fifty day moving average price of $225.78 and a 200-day moving average price of $208.11. The company has a market capitalization of $3.60 trillion, a PE ratio of 36.55, a PEG ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. During the same period last year, the company earned $1.26 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. As a group, equities analysts expect that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. Apple’s payout ratio is presently 15.55%.

Insider Activity

In other news, SVP Katherine L. Adams sold 100,000 shares of the firm’s 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 completion of the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Chris Kondo sold 5,178 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 517,924 shares of company stock worth $114,786,399 over the last three months. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Wedbush reissued an “outperform” rating and set a $285.00 price objective on shares of Apple in a research note on Monday, September 9th. Raymond James increased their price objective on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Tigress Financial increased their price objective on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 28th. Citigroup reissued a “buy” rating and set a $255.00 price objective on shares of Apple in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group lowered Apple from a “buy” rating to a “hold” rating and increased their price objective for the company from $205.00 to $212.92 in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $239.27.

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.