Apple Inc. (NASDAQ:AAPL) Shares Bought by Independent Advisor Alliance

Independent Advisor Alliance lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 920,737 shares of the iPhone maker’s stock after purchasing an additional 8,028 shares during the quarter. Apple comprises approximately 6.6% of Independent Advisor Alliance’s holdings, making the stock its largest holding. Independent Advisor Alliance’s holdings in Apple were worth $193,926,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Somerset Group LLC raised its position in shares of Apple by 2.3% during the 2nd quarter. Somerset Group LLC now owns 27,650 shares of the iPhone maker’s stock valued at $5,824,000 after acquiring an additional 631 shares in the last quarter. WCG Wealth Advisors LLC increased its position in Apple by 13.5% in the second quarter. WCG Wealth Advisors LLC now owns 198,305 shares of the iPhone maker’s stock worth $41,767,000 after buying an additional 23,578 shares during the period. Intrepid Financial Planning Group LLC lifted its holdings in Apple by 5.1% in the second quarter. Intrepid Financial Planning Group LLC now owns 43,929 shares of the iPhone maker’s stock worth $9,252,000 after purchasing an additional 2,115 shares during the period. Glass Jacobson Investment Advisors llc raised its position in Apple by 1.0% in the second quarter. Glass Jacobson Investment Advisors llc now owns 19,508 shares of the iPhone maker’s stock worth $4,109,000 after acquiring an additional 185 shares in the last quarter. Finally, Soundwatch Capital LLC raised its position in Apple by 169.1% in the second quarter. Soundwatch Capital LLC now owns 5,810 shares of the iPhone maker’s stock worth $1,224,000 after acquiring an additional 3,651 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Trading Down 0.3 %

Shares of Apple stock opened at $222.72 on Thursday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The firm has a 50-day simple moving average of $226.91 and a two-hundred day simple moving average of $213.51. The company has a market cap of $3.39 trillion, a P/E ratio of 36.63, a price-to-earnings-growth ratio of 2.39 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the prior year, the company earned $1.46 EPS. Apple’s revenue was up 6.1% compared to the same quarter last year. As a group, equities analysts predict that Apple Inc. will post 7.45 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on AAPL shares. Tigress Financial boosted their price target on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 28th. Rosenblatt Securities increased their target price on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Jefferies Financial Group cut Apple from a “buy” rating to a “hold” rating and raised their target price for the stock from $205.00 to $212.92 in a report on Monday, October 7th. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $245.00 price target on shares of Apple in a research report on Monday, September 9th. Finally, Wedbush reaffirmed an “outperform” rating and set a $285.00 price target on shares of Apple in a research report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $235.51.

Insider Activity

In other Apple news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were 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 of the company’s stock, valued at $5,223,062.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $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. In the last three months, insiders have sold 417,924 shares of company stock worth $94,142,399. 0.06% of the stock is currently owned by corporate insiders.

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.