Apple Inc. (NASDAQ:AAPL) Shares Acquired by IFG Advisors LLC

IFG Advisors LLC lifted its holdings in Apple Inc. (NASDAQ:AAPL) by 1.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,051 shares of the iPhone maker’s stock after purchasing an additional 590 shares during the quarter. Apple comprises about 3.0% of IFG Advisors LLC’s portfolio, making the stock its 11th biggest position. IFG Advisors LLC’s holdings in Apple were worth $14,225,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. Verus Financial Partners Inc. raised its stake in shares of Apple by 0.3% in the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after acquiring an additional 48 shares in the last quarter. Brown Financial Advisory increased its holdings in Apple by 3.8% during the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after purchasing an additional 50 shares during the period. Core Wealth Management Inc. raised its position in Apple by 1.7% in the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after purchasing an additional 50 shares in the last quarter. Lowery Thomas LLC boosted its stake in shares of Apple by 0.7% in the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock valued at $1,602,000 after buying an additional 50 shares during the period. Finally, Latitude Advisors LLC grew its position in shares of Apple by 0.3% during the third quarter. Latitude Advisors LLC now owns 17,236 shares of the iPhone maker’s stock worth $4,016,000 after buying an additional 50 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the sale, the senior vice president now directly owns 187,043 shares in the company, valued at $42,309,126.60. The trade was a 24.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock worth $92,007,745 in the last quarter. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AAPL shares. Jefferies Financial Group downgraded shares of Apple from a “buy” rating to a “hold” rating and lifted their price target for the stock from $205.00 to $212.92 in a research note on Monday, October 7th. Piper Sandler reaffirmed a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $265.00 price objective on shares of Apple in a report on Tuesday, September 10th. StockNews.com cut Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Barclays dropped their price target on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $236.78.

Apple Trading Up 0.6 %

NASDAQ:AAPL opened at $247.96 on Friday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $250.80. 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 stock has a fifty day moving average price of $231.63 and a two-hundred day moving average price of $222.83. The stock has a market capitalization of $3.75 trillion, a price-to-earnings ratio of 40.78, a PEG ratio of 2.42 and a beta of 1.23.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business 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 revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.46 EPS. As a group, sell-side analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.40%. Apple’s payout ratio is 16.45%.

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.