Fairfield Financial Advisors LTD Takes $12.09 Million Position in Apple Inc. (NASDAQ:AAPL)

Fairfield Financial Advisors LTD bought a new position in Apple Inc. (NASDAQ:AAPL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 57,417 shares of the iPhone maker’s stock, valued at approximately $12,093,000. Apple makes up 4.2% of Fairfield Financial Advisors LTD’s portfolio, making the stock its 8th biggest holding.

Other large investors have also bought and sold shares of the company. Capital International Investors raised its stake in shares of Apple by 7.1% in the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after acquiring an additional 2,474,887 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Apple by 3.2% during the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock valued at $7,291,583,000 after purchasing an additional 1,065,759 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Apple by 1.7% in the first quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock valued at $5,061,296,000 after purchasing an additional 485,873 shares in the last quarter. Swedbank AB raised its position in Apple by 13.4% in the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after purchasing an additional 2,359,409 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted 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 buying an additional 2,594,138 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors.

Apple Stock Down 1.3 %

AAPL stock opened at $222.91 on Friday. 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 stock has a market capitalization of $3.39 trillion, a P/E ratio of 33.93, a P/E/G ratio of 2.45 and a beta of 1.24. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The business has a 50-day moving average of $227.18 and a 200-day moving average of $212.33.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.15. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter in the prior year, the firm posted $1.46 EPS. The business’s revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts anticipate that Apple Inc. will post 6.6 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be paid a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.45%. Apple’s payout ratio is currently 15.22%.

Wall Street Analyst Weigh In

AAPL has been the subject of several research reports. Jefferies Financial Group cut Apple from a “buy” rating to a “hold” rating and lifted their target price for the company from $205.00 to $212.92 in a research note on Monday, October 7th. Bank of America reiterated a “buy” rating and issued a $256.00 price objective on shares of Apple in a research report on Thursday, October 3rd. The Goldman Sachs Group upped their target price on shares of Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Tigress Financial lifted their price target on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 28th. Finally, TD Cowen boosted their price target on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $236.23.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Chris Kondo sold 5,178 shares of the company’s 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 sale, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction 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 $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. Insiders have sold 517,924 shares of company stock valued at $114,786,399 in the last three months. 0.06% of the stock is currently owned by corporate insiders.

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.