Scarborough Advisors LLC Purchases 450 Shares of Apple Inc. (NASDAQ:AAPL)

Scarborough Advisors LLC grew its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,969 shares of the iPhone maker’s stock after buying an additional 450 shares during the period. Apple makes up 1.4% of Scarborough Advisors LLC’s holdings, making the stock its 18th biggest position. Scarborough Advisors LLC’s holdings in Apple were worth $3,363,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. WPWealth LLP grew its position in Apple by 0.5% during the second quarter. WPWealth LLP now owns 24,884 shares of the iPhone maker’s stock worth $5,241,000 after buying an additional 112 shares in the last quarter. Sykon Capital LLC lifted its position in shares of Apple by 41.8% during the 2nd quarter. Sykon Capital LLC now owns 24,621 shares of the iPhone maker’s stock valued at $5,186,000 after acquiring an additional 7,253 shares during the period. Prevail Innovative Wealth Advisors LLC grew its holdings in shares of Apple by 75.8% during the 2nd quarter. Prevail Innovative Wealth Advisors LLC now owns 12,346 shares of the iPhone maker’s stock worth $2,600,000 after purchasing an additional 5,324 shares in the last quarter. Meeder Advisory Services Inc. increased its position in shares of Apple by 26.8% in the second quarter. Meeder Advisory Services Inc. now owns 306,019 shares of the iPhone maker’s stock worth $64,454,000 after purchasing an additional 64,609 shares during the period. Finally, Morningstar Investment Management LLC raised its stake in Apple by 26.0% in the second quarter. Morningstar Investment Management LLC now owns 146,315 shares of the iPhone maker’s stock valued at $30,817,000 after purchasing an additional 30,228 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Timothy D. Cook sold 223,986 shares of the firm’s 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 transaction, the chief executive officer now directly 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Luca Maestri sold 59,305 shares of Apple 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 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 filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This 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 valued at $114,786,399 over the last three months. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Maxim Group reissued a “hold” rating and issued a $203.00 target price on shares of Apple in a report on Tuesday, September 10th. Melius Research restated a “buy” rating and set a $265.00 price objective on shares of Apple in a research report on Tuesday, August 27th. TD Cowen lifted their target price on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Piper Sandler reiterated a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. Finally, Morgan Stanley restated an “overweight” rating and set a $273.00 price objective on shares of Apple in a research report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $235.91.

Apple Stock Performance

Apple stock 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 firm’s fifty day moving average price is $227.26 and its 200-day moving average price is $211.69. The stock has a market cap of $3.43 trillion, a P/E ratio of 34.39, a price-to-earnings-growth 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.

Apple (NASDAQ:AAPL) last announced 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 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%. Apple’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $1.26 EPS. On average, equities research analysts expect that Apple Inc. will post 6.65 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is 15.22%.

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.