Apple Inc. (NASDAQ:AAPL) is Morling Financial Advisors LLC’s 9th Largest Position

Morling Financial Advisors LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,950 shares of the iPhone maker’s stock after buying an additional 356 shares during the period. Apple comprises approximately 4.0% of Morling Financial Advisors LLC’s holdings, making the stock its 9th biggest holding. Morling Financial Advisors LLC’s holdings in Apple were worth $9,257,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital International Investors grew its position in shares of Apple by 7.1% during the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after buying an additional 2,474,887 shares in the last quarter. Jennison Associates LLC boosted its stake in Apple by 1.7% during the 1st quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock valued at $5,061,296,000 after acquiring an additional 485,873 shares during the last quarter. Swedbank AB grew its holdings in Apple by 13.4% during the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after acquiring an additional 2,359,409 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Apple by 16.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,993,042 shares of the iPhone maker’s stock worth $3,085,427,000 after acquiring an additional 2,594,138 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Apple by 2.5% in the 1st quarter. Nordea Investment Management AB now owns 17,247,950 shares of the iPhone maker’s stock worth $2,951,297,000 after purchasing an additional 415,186 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Activity

In related news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 517,924 shares of company stock worth $114,786,399 over the last 90 days. 0.06% of the stock is owned by company insiders.

Apple Stock Up 0.4 %

NASDAQ AAPL opened at $231.41 on Monday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The company has a market capitalization of $3.55 trillion, a P/E ratio of 35.99, a PEG ratio of 2.40 and a beta of 1.24. The company’s 50 day simple moving average is $226.86 and its 200 day simple moving average is $210.64. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91.

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

Apple Announces Dividend

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

Analysts Set New Price Targets

AAPL has been the topic of several research analyst reports. Bank of America reaffirmed a “buy” rating and set a $256.00 price target on shares of Apple in a research report on Thursday, October 3rd. Moffett Nathanson started coverage on Apple in a research report on Monday, August 19th. They issued a “neutral” rating and a $211.00 target price for the company. Raymond James boosted their price target on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Loop Capital raised their price objective on Apple to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Evercore ISI reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Apple in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average target price of $235.91.

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.