JNBA Financial Advisors Has $7.51 Million Holdings in Apple Inc. (NASDAQ:AAPL)

JNBA Financial Advisors decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 2.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,220 shares of the iPhone maker’s stock after selling 745 shares during the quarter. Apple accounts for approximately 0.8% of JNBA Financial Advisors’ investment portfolio, making the stock its 27th biggest holding. JNBA Financial Advisors’ holdings in Apple were worth $7,507,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Lantz Financial LLC boosted its holdings in Apple by 8.6% during the second quarter. Lantz Financial LLC now owns 29,751 shares of the iPhone maker’s stock worth $6,266,000 after purchasing an additional 2,361 shares during the last quarter. New Perspectives Inc boosted its stake in shares of Apple by 0.8% in the 2nd quarter. New Perspectives Inc now owns 12,600 shares of the iPhone maker’s stock worth $2,654,000 after buying an additional 100 shares during the last quarter. Patrick M Sweeney & Associates Inc. grew its holdings in shares of Apple by 0.7% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 38,077 shares of the iPhone maker’s stock valued at $8,020,000 after acquiring an additional 269 shares in the last quarter. Abundance Wealth Counselors increased its position in shares of Apple by 0.9% during the second quarter. Abundance Wealth Counselors now owns 55,203 shares of the iPhone maker’s stock valued at $11,627,000 after acquiring an additional 491 shares during the last quarter. Finally, AlphaMark Advisors LLC lifted its holdings in Apple by 2.9% during the second quarter. AlphaMark Advisors LLC now owns 12,639 shares of the iPhone maker’s stock worth $2,662,000 after acquiring an additional 356 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of recent analyst reports. New Street Research restated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research note on Wednesday, September 25th. Loop Capital decreased their price objective on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, November 4th. UBS Group reiterated a “neutral” rating and issued a $236.00 target price on shares of Apple in a research note on Monday, December 2nd. Rosenblatt Securities raised their price target on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, KeyCorp downgraded Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective on the stock. in a research note on Friday, October 25th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $239.85.

Apple Stock Down 2.4 %

AAPL stock opened at $236.85 on Friday. The company’s 50 day moving average is $240.18 and its 200 day moving average is $229.95. The stock has a market cap of $3.58 trillion, a price-to-earnings ratio of 38.96, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same quarter in the prior year, the firm earned $1.46 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. Sell-side analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Insiders Place Their Bets

In related news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the transaction, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

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.