Apple Inc. (NASDAQ:AAPL) Shares Purchased by Sound Income Strategies LLC

Sound Income Strategies LLC boosted its stake in Apple Inc. (NASDAQ:AAPL) by 1.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 88,531 shares of the iPhone maker’s stock after purchasing an additional 1,262 shares during the period. Apple comprises approximately 1.3% of Sound Income Strategies LLC’s portfolio, making the stock its 20th largest position. Sound Income Strategies LLC’s holdings in Apple were worth $20,628,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Swedbank AB acquired a new stake in shares of Apple in the 1st quarter valued at about $3,026,492,000. Strategic Financial Concepts LLC lifted its stake in shares of Apple by 14,145.8% in the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after acquiring an additional 7,558,826 shares during the period. Canada Pension Plan Investment Board raised its holdings in Apple by 158.3% during the first quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock worth $1,977,582,000 after purchasing an additional 7,067,379 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in Apple by 161.2% in the 1st quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock valued at $1,502,068,000 after purchasing an additional 5,405,542 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new position in Apple during the 2nd quarter worth approximately $834,368,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $239.59 on Tuesday. The company has a 50-day moving average price of $229.02 and a two-hundred day moving average price of $220.02. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $240.79. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $3.62 trillion, a PE ratio of 39.41, a P/E/G ratio of 2.33 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion during 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 quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the firm earned $1.46 EPS. Equities analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.42%. Apple’s payout ratio is currently 16.45%.

Insider Activity

In related news, SVP Katherine L. Adams sold 61,019 shares of the 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 transaction, the senior vice president now owns 187,043 shares in the company, valued at $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AAPL shares. Morgan Stanley reiterated an “overweight” rating and issued a $273.00 price target on shares of Apple in a report on Monday, November 25th. Maxim Group boosted their target price on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Citigroup raised their price target on Apple to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Needham & Company LLC restated a “buy” rating and set a $260.00 target price on shares of Apple in a report on Friday, November 1st. Finally, KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective for the company. in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $235.68.

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.