Apple Inc. (NASDAQ:AAPL) is Soltis Investment Advisors LLC’s 2nd Largest Position

Soltis Investment Advisors LLC grew its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 5.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 209,065 shares of the iPhone maker’s stock after purchasing an additional 11,612 shares during the quarter. Apple makes up approximately 4.7% of Soltis Investment Advisors LLC’s holdings, making the stock its 2nd biggest position. Soltis Investment Advisors LLC’s holdings in Apple were worth $48,712,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Main Line Retirement Advisors LLC increased its position in shares of Apple by 2.8% during the 3rd quarter. Main Line Retirement Advisors LLC now owns 3,237 shares of the iPhone maker’s stock valued at $754,000 after purchasing an additional 87 shares during the last quarter. TD Private Client Wealth LLC increased its position in shares of Apple by 6.5% during the 3rd quarter. TD Private Client Wealth LLC now owns 106,889 shares of the iPhone maker’s stock valued at $24,905,000 after purchasing an additional 6,543 shares during the last quarter. Hobbs Group Advisors LLC increased its position in shares of Apple by 1.5% during the 3rd quarter. Hobbs Group Advisors LLC now owns 16,473 shares of the iPhone maker’s stock valued at $3,838,000 after purchasing an additional 248 shares during the last quarter. Fortem Financial Group LLC grew its stake in shares of Apple by 3.7% during the 3rd quarter. Fortem Financial Group LLC now owns 25,351 shares of the iPhone maker’s stock valued at $5,907,000 after acquiring an additional 899 shares during the period. Finally, Asset Allocation Strategies LLC grew its stake in shares of Apple by 8.4% during the 3rd quarter. Asset Allocation Strategies LLC now owns 7,581 shares of the iPhone maker’s stock valued at $1,766,000 after acquiring an additional 589 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Up 2.0 %

Shares of AAPL opened at $241.53 on Friday. The company has a market cap of $3.63 trillion, a PE ratio of 38.34, a P/E/G ratio of 2.32 and a beta of 1.20. The business has a fifty day moving average of $240.70 and a 200 day moving average of $231.34. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, sell-side analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. Apple’s dividend payout ratio (DPR) is 15.87%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AAPL shares. Raymond James boosted their price objective on Apple to $250.00 and gave the company a “buy” rating in a research note on Monday, January 20th. Bank of America boosted their price objective on Apple from $253.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Wedbush reiterated an “outperform” rating and set a $325.00 price objective on shares of Apple in a research note on Thursday, January 23rd. Jefferies Financial Group downgraded Apple from a “hold” rating to an “underperform” rating and cut their price objective for the company from $211.84 to $200.75 in a research note on Thursday, January 30th. Finally, Loop Capital downgraded Apple from a “buy” rating to a “hold” rating and set a $230.00 price objective for the company. in a research note on Tuesday, January 21st. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus target price of $242.52.

Insider Transactions at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction on 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 sale, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction on 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 owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

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.