Apple Inc. (NASDAQ:AAPL) Stock Position Boosted by Savvy Advisors Inc.

Savvy Advisors Inc. increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 100.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,562 shares of the iPhone maker’s stock after purchasing an additional 14,304 shares during the period. Apple accounts for about 2.0% of Savvy Advisors Inc.’s holdings, making the stock its 9th biggest holding. Savvy Advisors Inc.’s holdings in Apple were worth $6,016,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Verus Financial Partners Inc. lifted its position in shares of Apple by 0.3% during the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after acquiring an additional 48 shares during the last quarter. Brown Financial Advisory lifted its holdings in shares of Apple by 3.8% during the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after purchasing an additional 50 shares during the last quarter. Core Wealth Management Inc. boosted its position in shares of Apple by 1.7% in the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after purchasing an additional 50 shares during the period. Lowery Thomas LLC increased its stake in Apple by 0.7% in the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after purchasing an additional 50 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. raised its holdings in Apple by 1.1% during the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after buying an additional 51 shares during the period. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction on Wednesday, October 2nd. The stock was 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction dated 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 sale, the chief operating officer now owns 489,944 shares in the company, valued at $111,148,695.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the transaction, the senior vice president now owns 187,043 shares in the company, valued at approximately $42,309,126.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 404,040 shares of company stock worth $91,062,512 in the last 90 days. 0.06% of the stock is owned by company insiders.

Apple Trading Up 0.4 %

Shares of AAPL opened at $225.12 on Thursday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The firm has a market capitalization of $3.40 trillion, a price-to-earnings ratio of 37.03, a P/E/G ratio of 2.20 and a beta of 1.24. The stock’s 50-day moving average price is $226.75 and its 200 day moving average price is $215.45. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.46 EPS. As a group, research analysts predict that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s dividend payout ratio is currently 16.45%.

Analyst Upgrades and Downgrades

Several brokerages have commented on AAPL. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $265.00 target price on shares of Apple in a report on Tuesday, September 10th. Barclays lowered their price objective on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, November 1st. UBS Group raised their target price on Apple to $236.00 and gave the stock a “hold” rating in a research report on Tuesday. Moffett Nathanson started coverage on Apple in a research report on Monday, August 19th. They set a “neutral” rating and a $211.00 price target on the stock. Finally, New Street Research reaffirmed a “neutral” rating and set a $225.00 target price on shares of Apple in a research note on Wednesday, September 25th. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $235.51.

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.