Apple Inc. (NASDAQ:AAPL) Holdings Increased by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC increased its stake in Apple Inc. (NASDAQ:AAPL) by 24.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 391,512 shares of the iPhone maker’s stock after acquiring an additional 76,388 shares during the period. Apple makes up approximately 5.5% of Thoroughbred Financial Services LLC’s investment portfolio, making the stock its 2nd biggest position. Thoroughbred Financial Services LLC’s holdings in Apple were worth $82,460,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Bellwether Advisors LLC lifted its holdings in shares of Apple by 387.3% in the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock worth $5,128,000 after acquiring an additional 19,352 shares during the last quarter. Gentry Private Wealth LLC bought a new stake in Apple in the second quarter worth about $876,000. WT Asset Management Ltd purchased a new position in shares of Apple during the second quarter valued at approximately $80,057,000. TD Asset Management Inc grew its stake in shares of Apple by 10.3% during the second quarter. TD Asset Management Inc now owns 16,745,201 shares of the iPhone maker’s stock valued at $3,526,874,000 after buying an additional 1,557,848 shares during the last quarter. Finally, Councilmark Asset Management LLC purchased a new stake in shares of Apple in the first quarter worth approximately $11,776,000. 60.41% of the stock is owned by institutional investors.

Apple Price Performance

Shares of NASDAQ AAPL opened at $225.91 on Friday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The company has a market cap of $3.43 trillion, a PE ratio of 34.39, a P/E/G ratio of 2.40 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The business has a 50-day simple moving average of $227.26 and a two-hundred day simple moving average of $211.69.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS 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 company had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. During the same period last year, the business earned $1.26 EPS. Apple’s revenue for the quarter 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 disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s payout ratio is currently 15.22%.

Insider Activity

In related news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 5,178 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. This trade 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 valued at $114,786,399 over the last ninety days. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AAPL has been the topic of several research analyst reports. Barclays reaffirmed an “underweight” rating and issued a $186.00 price objective on shares of Apple in a research report on Tuesday, October 1st. Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $245.00 price target on shares of Apple in a research note on Monday, September 9th. Tigress Financial lifted their price objective on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 target price on shares of Apple in a research report on Thursday, September 19th. Finally, Bank of America reaffirmed a “buy” rating and set a $256.00 price target on shares of Apple in a research note on Thursday, October 3rd. Two equities research 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 stock. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus target price of $235.91.

Apple 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.