Strategic Financial Concepts LLC Raises Holdings in Apple Inc. (NASDAQ:AAPL)

Strategic Financial Concepts LLC lifted its holdings in Apple Inc. (NASDAQ:AAPL) by 14,145.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,612,261 shares of the iPhone maker’s stock after buying an additional 7,558,826 shares during the quarter. Strategic Financial Concepts LLC’s holdings in Apple were worth $1,603,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Umpqua Bank increased its holdings in Apple by 2.8% in the second quarter. Umpqua Bank now owns 64,068 shares of the iPhone maker’s stock valued at $13,494,000 after buying an additional 1,773 shares in the last quarter. Norden Group LLC increased its stake in Apple by 12.4% in the 2nd quarter. Norden Group LLC now owns 67,460 shares of the iPhone maker’s stock valued at $14,209,000 after purchasing an additional 7,439 shares in the last quarter. Parcion Private Wealth LLC raised its holdings in Apple by 2.0% during the second quarter. Parcion Private Wealth LLC now owns 184,423 shares of the iPhone maker’s stock worth $38,843,000 after purchasing an additional 3,628 shares during the last quarter. Stonebrook Private Inc. boosted its position in Apple by 0.7% during the second quarter. Stonebrook Private Inc. now owns 83,190 shares of the iPhone maker’s stock worth $17,522,000 after purchasing an additional 578 shares in the last quarter. Finally, SRS Capital Advisors Inc. grew its holdings in Apple by 11.1% in the second quarter. SRS Capital Advisors Inc. now owns 68,921 shares of the iPhone maker’s stock valued at $14,516,000 after purchasing an additional 6,875 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Buying and Selling

In other Apple news, CFO Luca Maestri sold 59,305 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $24,416,137.76. 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 other Apple news, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the transaction, the chief financial officer now owns 107,788 shares in the company, valued at $24,416,137.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated 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 $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. In the last ninety days, insiders have sold 517,924 shares of company stock valued at $114,786,399. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

AAPL opened at $230.76 on Thursday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. The company has a 50 day moving average of $226.64 and a two-hundred day moving average of $209.48. The company has a market cap of $3.54 trillion, a P/E ratio of 35.89, a P/E/G ratio of 2.40 and a beta of 1.24. 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 earnings per share for the quarter, topping 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 analysts’ expectations of $84.43 billion. During the same period in the prior year, the company earned $1.26 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. On average, analysts expect that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors 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 currently 15.55%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AAPL shares. New Street Research reiterated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research report on Wednesday, September 25th. Melius Research reaffirmed a “buy” rating and issued a $265.00 price target on shares of Apple in a report on Tuesday, August 27th. The Goldman Sachs Group raised their price objective on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Raymond James upped 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. Finally, Wedbush reissued an “outperform” rating and issued a $285.00 price target on shares of Apple in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $237.27.

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.