Phillips Financial Management LLC Acquires 82 Shares of Apple Inc. (NASDAQ:AAPL)

Phillips Financial Management LLC raised its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,168 shares of the iPhone maker’s stock after purchasing an additional 82 shares during the period. Phillips Financial Management LLC’s holdings in Apple were worth $4,932,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Bull Oak Capital LLC grew its position in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after purchasing an additional 111 shares during the period. Hershey Financial Advisers LLC purchased a new position in shares of Apple in the 2nd quarter worth $42,000. Christopher J. Hasenberg Inc grew its holdings in shares of Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares during the period. ARK Investment Management LLC purchased a new stake in Apple during the third quarter valued at $110,000. Finally, Cordant Inc. lifted its holdings in Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after acquiring an additional 173 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Loop Capital lowered shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 price target for the company. in a research report on Tuesday, January 21st. Wells Fargo & Company increased their price objective on shares of Apple to $275.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Moffett Nathanson restated a “sell” rating and issued a $188.00 price objective (down from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Barclays cut their target price on Apple from $184.00 to $183.00 and set an “underweight” rating for the company in a research report on Wednesday. Finally, Maxim Group raised their target price on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.05.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $222.78 on Friday. 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 market cap of $3.35 trillion, a PE ratio of 36.64, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20. The firm’s 50 day simple moving average is $240.93 and its 200-day simple moving average is $230.69. Apple Inc. has a one year low of $164.07 and a one year high of $260.10.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $94.52 billion. During the same period in the prior year, the business earned $1.46 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, equities analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

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

Insider Activity

In related news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

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.