Horizon Investment Services LLC Has $6.85 Million Stake in Apple Inc. (NASDAQ:AAPL)

Horizon Investment Services LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 5.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,521 shares of the iPhone maker’s stock after selling 1,766 shares during the quarter. Apple accounts for approximately 3.2% of Horizon Investment Services LLC’s investment portfolio, making the stock its 7th largest position. Horizon Investment Services LLC’s holdings in Apple were worth $6,850,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. N.E.W. Advisory Services LLC grew its stake in shares of Apple by 3.3% during the second quarter. N.E.W. Advisory Services LLC now owns 70,515 shares of the iPhone maker’s stock valued at $14,852,000 after buying an additional 2,220 shares during the last quarter. Waverton Investment Management Ltd increased its stake in Apple by 7.5% in the second quarter. Waverton Investment Management Ltd now owns 404,022 shares of the iPhone maker’s stock worth $85,045,000 after purchasing an additional 28,277 shares during the period. Hill Investment Group Partners LLC lifted its position in shares of Apple by 4.6% during the second quarter. Hill Investment Group Partners LLC now owns 9,536 shares of the iPhone maker’s stock worth $2,146,000 after purchasing an additional 423 shares during the last quarter. First Western Trust Bank boosted its stake in shares of Apple by 25.5% during the second quarter. First Western Trust Bank now owns 118,068 shares of the iPhone maker’s stock valued at $24,867,000 after purchasing an additional 23,971 shares during the period. Finally, Bordeaux Wealth Advisors LLC grew its holdings in shares of Apple by 8.9% in the second quarter. Bordeaux Wealth Advisors LLC now owns 168,676 shares of the iPhone maker’s stock worth $35,527,000 after purchasing an additional 13,807 shares during the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of research analyst reports. Evercore ISI reiterated a “buy” rating and set a $250.00 price objective on shares of Apple in a report on Thursday, September 26th. Robert W. Baird boosted their price target on Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Wedbush reissued an “outperform” rating and issued a $285.00 price objective on shares of Apple in a research note on Monday, September 9th. Maxim Group reaffirmed a “hold” rating and set a $203.00 target price on shares of Apple in a research report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $265.00 price target on shares of Apple in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $239.27.

Insiders Place Their Bets

In other 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 transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the transaction, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 517,924 shares of company stock valued at $114,786,399. 0.06% of the stock is owned by company insiders.

Apple Stock Performance

AAPL opened at $235.00 on Monday. The company has a market cap of $3.60 trillion, a P/E ratio of 36.55, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The firm’s 50-day moving average price is $225.78 and its 200-day moving average price is $208.38. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating 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 business had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. During the same quarter in the prior year, the business posted $1.26 EPS. Apple’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, equities analysts anticipate that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a $0.25 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. Apple’s dividend payout ratio (DPR) is 15.55%.

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.