Flynn Zito Capital Management LLC Raises Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Flynn Zito Capital Management LLC raised its position in Apple Inc. (NASDAQ:AAPL) by 0.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 80,262 shares of the iPhone maker’s stock after purchasing an additional 374 shares during the quarter. Apple accounts for about 8.6% of Flynn Zito Capital Management LLC’s holdings, making the stock its 2nd biggest holding. Flynn Zito Capital Management LLC’s holdings in Apple were worth $16,905,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Lantz Financial LLC increased its holdings in Apple by 6.3% in the first quarter. Lantz Financial LLC now owns 27,390 shares of the iPhone maker’s stock valued at $4,697,000 after purchasing an additional 1,615 shares during the period. Compass Financial Group INC SD increased its stake in shares of Apple by 3.8% in the first quarter. Compass Financial Group INC SD now owns 14,893 shares of the iPhone maker’s stock valued at $2,554,000 after buying an additional 543 shares during the period. Legacy Financial Strategies LLC raised its position in shares of Apple by 2.3% during the first quarter. Legacy Financial Strategies LLC now owns 28,751 shares of the iPhone maker’s stock worth $4,930,000 after acquiring an additional 649 shares during the last quarter. American National Bank raised its position in shares of Apple by 14.1% during the first quarter. American National Bank now owns 192,245 shares of the iPhone maker’s stock worth $32,966,000 after acquiring an additional 23,827 shares during the last quarter. Finally, BCS Wealth Management lifted its stake in shares of Apple by 21.8% in the first quarter. BCS Wealth Management now owns 35,178 shares of the iPhone maker’s stock worth $6,032,000 after acquiring an additional 6,285 shares during the period. 60.41% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

NASDAQ AAPL opened at $236.48 on Tuesday. The company has a market capitalization of $3.63 trillion, a PE ratio of 36.78, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. The company has a 50-day simple moving average of $226.16 and a 200 day simple moving average of $208.86.

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, topping the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. During the same quarter last year, the business posted $1.26 EPS. Apple’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, research analysts predict that Apple Inc. will post 6.65 EPS for the current year.

Apple Dividend Announcement

The company 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. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.42%. Apple’s dividend payout ratio is presently 15.55%.

Insider Transactions at Apple

In other Apple news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the transaction, the chief financial officer now owns 107,788 shares in the company, valued at $24,416,137.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. The trade was 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 worth $114,786,399. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

AAPL has been the topic of a number of analyst reports. Bank of America reaffirmed a “buy” rating and issued a $256.00 price objective on shares of Apple in a research note on Thursday, October 3rd. Loop Capital boosted their price target on Apple to $300.00 and gave the company a “buy” rating in a research note on Monday. The Goldman Sachs Group raised their price objective on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Tigress Financial boosted their target price on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. Finally, Melius Research reaffirmed a “buy” rating and issued a $265.00 price target on shares of Apple in a research note on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $239.27.

Apple 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.