Intelligence Driven Advisers LLC Buys 5,010 Shares of Apple Inc. (NASDAQ:AAPL)

Intelligence Driven Advisers LLC lifted its position in Apple Inc. (NASDAQ:AAPL) by 7.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 70,813 shares of the iPhone maker’s stock after purchasing an additional 5,010 shares during the period. Apple accounts for about 2.1% of Intelligence Driven Advisers LLC’s investment portfolio, making the stock its 13th biggest position. Intelligence Driven Advisers LLC’s holdings in Apple were worth $14,915,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of AAPL. Aprio Wealth Management LLC lifted its position in shares of Apple by 37.0% in the 1st quarter. Aprio Wealth Management LLC now owns 34,696 shares of the iPhone maker’s stock worth $5,950,000 after purchasing an additional 9,369 shares during the period. Threadgill Financial LLC increased its holdings in Apple by 15.2% during the first quarter. Threadgill Financial LLC now owns 10,985 shares of the iPhone maker’s stock valued at $1,884,000 after buying an additional 1,452 shares during the period. Atwood & Palmer Inc. lifted its holdings in Apple by 0.7% during the first quarter. Atwood & Palmer Inc. now owns 128,916 shares of the iPhone maker’s stock worth $22,107,000 after buying an additional 929 shares during the period. Fragasso Group Inc. boosted its position in Apple by 2.4% during the 1st quarter. Fragasso Group Inc. now owns 287,606 shares of the iPhone maker’s stock valued at $49,319,000 after acquiring an additional 6,795 shares in the last quarter. Finally, Buckingham Capital Management Inc. increased its holdings in shares of Apple by 3.6% in the 1st quarter. Buckingham Capital Management Inc. now owns 186,336 shares of the iPhone maker’s stock valued at $31,953,000 after acquiring an additional 6,454 shares during the period. Institutional investors own 60.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group cut Apple from a “buy” rating to a “hold” rating and upped their price objective for the stock from $205.00 to $212.92 in a research note on Monday, October 7th. Monness Crespi & Hardt reissued a “buy” rating and set a $245.00 price target on shares of Apple in a research report on Monday, September 9th. TD Cowen raised their price target on shares of Apple from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, July 29th. Piper Sandler reiterated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research note on Wednesday, October 9th. Finally, Evercore ISI restated a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $239.27.

Apple Price Performance

NASDAQ:AAPL opened at $235.86 on Wednesday. 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 company has a 50 day moving average price of $226.46 and a 200-day moving average price of $209.33. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49. The firm has a market cap of $3.62 trillion, a price-to-earnings ratio of 36.68, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24.

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

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors 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 dividend on an annualized basis and a yield of 0.42%. Apple’s payout ratio is 15.55%.

Insiders Place Their Bets

In related news, SVP Katherine L. Adams sold 100,000 shares of Apple 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 owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $24,416,137.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 completion of the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 517,924 shares of company stock worth $114,786,399. 0.06% of the stock is owned by corporate 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.