Apple Inc. (NASDAQ:AAPL) is Financial Advisory Partners LLC’s 10th Largest Position

Financial Advisory Partners LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,896 shares of the iPhone maker’s stock after selling 783 shares during the period. Apple makes up approximately 1.9% of Financial Advisory Partners LLC’s holdings, making the stock its 10th biggest holding. Financial Advisory Partners LLC’s holdings in Apple were worth $5,033,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AAPL. Christopher J. Hasenberg Inc bought a new stake in Apple during the first quarter worth approximately $35,000. Fidelis Capital Partners LLC increased its position in shares of Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after purchasing an additional 31,278 shares during the last quarter. A.P. Gilfoyle & Co. L.P. purchased a new stake in Apple during the 4th quarter valued at $39,000. University of Texas Texas AM Investment Managment Co. lifted its position in Apple by 657.1% in the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after buying an additional 368 shares during the last quarter. Finally, Clarity Asset Management Inc. purchased a new position in Apple during the fourth quarter worth $85,000. 60.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on AAPL shares. Bank of America reissued a “buy” rating and issued a $256.00 target price on shares of Apple in a research note on Thursday, September 5th. Tigress Financial raised their price objective on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, August 28th. Moffett Nathanson assumed coverage on Apple in a research note on Monday, August 19th. They set a “neutral” rating and a $211.00 target price on the stock. Maxim Group reissued a “hold” rating and set a $203.00 price target on shares of Apple in a research note on Tuesday, September 10th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $265.00 price objective on shares of Apple in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $239.17.

Insider Activity

In related news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Apple news, insider Chris Kondo sold 5,178 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,884 shares of company stock worth $23,723,887. Insiders own 0.06% of the company’s stock.

Apple Price Performance

AAPL opened at $228.20 on Friday. The firm has a market capitalization of $3.50 trillion, a PE ratio of 35.49, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. The business’s 50-day moving average is $222.41 and its two-hundred day moving average is $200.19. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.23. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter in the previous year, the firm earned $1.26 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. Research analysts anticipate that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s payout ratio is presently 15.55%.

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.