Hill Island Financial LLC Purchases 1,778 Shares of Apple Inc. (NASDAQ:AAPL)

Hill Island Financial LLC increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 18.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,232 shares of the iPhone maker’s stock after buying an additional 1,778 shares during the period. Apple comprises approximately 0.8% of Hill Island Financial LLC’s portfolio, making the stock its 19th largest position. Hill Island Financial LLC’s holdings in Apple were worth $2,366,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AAPL. Bellwether Advisors LLC lifted its position in shares of Apple by 387.3% in the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock worth $5,128,000 after purchasing an additional 19,352 shares during the period. Gentry Private Wealth LLC acquired a new stake in Apple during the second quarter worth approximately $876,000. WT Asset Management Ltd acquired a new position in Apple in the second quarter valued at approximately $80,057,000. TD Asset Management Inc grew its position in shares of Apple by 10.3% during the 2nd quarter. TD Asset Management Inc now owns 16,745,201 shares of the iPhone maker’s stock worth $3,526,874,000 after buying an additional 1,557,848 shares during the period. Finally, Councilmark Asset Management LLC bought a new stake in shares of Apple in the 1st quarter valued at $11,776,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Raymond James increased their price objective on shares of Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Piper Sandler reiterated a “neutral” rating and set a $225.00 price objective on shares of Apple in a report on Wednesday, October 9th. Tigress Financial boosted their price objective on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. Rosenblatt Securities lifted their target price on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research report on Friday. Finally, Monness Crespi & Hardt reissued a “buy” rating and issued a $245.00 price target on shares of Apple in a research report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $235.51.

Insider Activity

In related news, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,469,275. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Apple news, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,469,275. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 417,924 shares of company stock worth $94,142,399. 0.06% of the stock is currently owned by insiders.

Apple Stock Performance

Shares of AAPL stock opened at $222.01 on Tuesday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The stock has a market capitalization of $3.38 trillion, a P/E ratio of 36.51, a PEG ratio of 2.41 and a beta of 1.24. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The firm’s 50 day moving average is $227.07 and its 200 day moving average is $213.03.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 145.09% and a net margin of 23.97%. The business had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter last year, the company earned $1.46 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Apple Inc. will post 7.48 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Friday, November 8th. Apple’s dividend payout ratio is 16.45%.

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.