Gibson Wealth Advisors LLC Boosts Position in Apple Inc. (NASDAQ:AAPL)

Gibson Wealth Advisors LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 15.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,894 shares of the iPhone maker’s stock after acquiring an additional 900 shares during the period. Apple accounts for approximately 1.4% of Gibson Wealth Advisors LLC’s portfolio, making the stock its 11th biggest position. Gibson Wealth Advisors LLC’s holdings in Apple were worth $1,452,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Kestra Investment Management LLC acquired a new stake in shares of Apple during the 2nd quarter worth about $11,587,000. Heritage Oak Wealth Advisors LLC acquired a new position in Apple in the 2nd quarter valued at about $4,442,000. Souders Financial Advisors grew its position in Apple by 3.1% in the 2nd quarter. Souders Financial Advisors now owns 77,003 shares of the iPhone maker’s stock valued at $16,218,000 after acquiring an additional 2,283 shares in the last quarter. Clearbridge Investments LLC grew its position in Apple by 0.5% in the 2nd quarter. Clearbridge Investments LLC now owns 15,725,503 shares of the iPhone maker’s stock valued at $3,312,103,000 after acquiring an additional 84,252 shares in the last quarter. Finally, Dana Investment Advisors Inc. grew its position in Apple by 5.0% in the 2nd quarter. Dana Investment Advisors Inc. now owns 587,099 shares of the iPhone maker’s stock valued at $123,655,000 after acquiring an additional 28,036 shares in the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Apple Trading Down 1.4 %

Shares of Apple stock opened at $225.00 on Monday. The company has a market capitalization of $3.40 trillion, a price-to-earnings ratio of 37.01, a PEG ratio of 2.20 and a beta of 1.24. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The firm’s 50-day moving average price is $227.04 and its two-hundred day moving average price is $216.61.

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, topping analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.46 earnings per share. On average, analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s payout ratio is currently 16.45%.

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 in the company, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the transaction, the senior vice president now owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. This trade represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 404,040 shares of company stock worth $91,062,512. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on AAPL. Oppenheimer reaffirmed a “buy” rating and issued a $250.00 target price on shares of Apple in a research report on Tuesday, October 1st. UBS Group boosted their price objective on Apple to $236.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Robert W. Baird boosted their price objective on Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Evercore ISI reissued a “buy” rating and set a $250.00 price objective on shares of Apple in a research report on Thursday, September 26th. Finally, The Goldman Sachs Group boosted their price objective on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Two investment 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $235.51.

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.