SRS Capital Advisors Inc. Purchases 6,875 Shares of Apple Inc. (NASDAQ:AAPL)

SRS Capital Advisors Inc. raised its position in Apple Inc. (NASDAQ:AAPL) by 11.1% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 68,921 shares of the iPhone maker’s stock after acquiring an additional 6,875 shares during the period. Apple comprises 1.4% of SRS Capital Advisors Inc.’s portfolio, making the stock its 26th biggest position. SRS Capital Advisors Inc.’s holdings in Apple were worth $14,516,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Access Investment Management LLC bought a new stake in Apple during the first quarter worth about $140,000. Hoese & Co LLP increased its position in shares of Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the last quarter. Sage Financial Group Inc. bought a new stake in shares of Apple during the 2nd quarter worth approximately $206,000. Benchmark Wealth Management LLC acquired a new stake in shares of Apple in the 2nd quarter valued at approximately $208,000. Finally, Sequent Asset Management LLC bought a new position in shares of Apple in the second quarter valued at $214,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Activity at Apple

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing 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 business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the transaction, the chief operating officer now directly owns 489,944 shares in the company, valued at $111,148,695.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction on 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 $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 517,924 shares of company stock valued at $114,786,399 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on AAPL shares. Maxim Group reiterated a “hold” rating and issued a $203.00 price target on shares of Apple in a research note on Tuesday, September 10th. KeyCorp reiterated a “hold” rating and issued a $247.61 target price on shares of Apple in a research note on Wednesday, August 28th. Tigress Financial boosted their price target on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 28th. Evercore ISI reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Apple in a research report on Thursday, September 26th. Finally, Bank of America reissued a “buy” rating and set a $256.00 target price on shares of Apple in a report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $237.27.

Apple Trading Down 2.2 %

AAPL opened at $230.76 on Thursday. The company has a 50-day simple moving average of $226.64 and a 200 day simple moving average of $209.48. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The stock has a market capitalization of $3.54 trillion, a price-to-earnings ratio of 35.89, a P/E/G ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.26 earnings per share. Analysts predict that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Dividend Announcement

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

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.