Bright Financial Advisors Inc. Has $3.91 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Bright Financial Advisors Inc. grew its stake in Apple Inc. (NASDAQ:AAPL) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,767 shares of the iPhone maker’s stock after purchasing an additional 163 shares during the quarter. Apple makes up approximately 2.5% of Bright Financial Advisors Inc.’s investment portfolio, making the stock its 10th largest holding. Bright Financial Advisors Inc.’s holdings in Apple were worth $3,907,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Hershey Financial Advisers LLC bought a new position in shares of Apple during the second quarter worth approximately $42,000. Christopher J. Hasenberg Inc lifted its holdings in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after buying an additional 144 shares in the last quarter. Hoese & Co LLP boosted its position in shares of Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares during the period. Sage Financial Group Inc. acquired a new position in shares of Apple in the second quarter valued at about $206,000. Finally, Benchmark Wealth Management LLC bought a new position in Apple during the second quarter worth about $208,000. Institutional investors own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price on the stock. in a report on Friday, October 25th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $265.00 target price on shares of Apple in a research report on Tuesday, September 10th. Maxim Group raised their price target on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Bank of America reiterated a “buy” rating and set a $256.00 price objective on shares of Apple in a research note on Thursday, October 3rd. Finally, StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $235.68.

Apple Price Performance

AAPL opened at $239.59 on Tuesday. The firm’s fifty day moving average price is $229.02 and its two-hundred day moving average price is $220.02. The company has a market capitalization of $3.62 trillion, a price-to-earnings ratio of 39.41, a P/E/G ratio of 2.33 and a beta of 1.24. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $240.79.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter in the previous year, the business earned $1.46 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. As a group, analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.42%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Buying and Selling

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction 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 in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is owned by company 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.