Source Financial Advisors LLC Raises Position in Apple Inc. (NASDAQ:AAPL)

Source Financial Advisors LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,237 shares of the iPhone maker’s stock after acquiring an additional 199 shares during the quarter. Apple accounts for about 1.3% of Source Financial Advisors LLC’s portfolio, making the stock its 16th largest position. Source Financial Advisors LLC’s holdings in Apple were worth $4,482,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Beckerman Institutional LLC acquired a new stake in Apple in the third quarter valued at $1,380,000. Leavell Investment Management Inc. increased its holdings in shares of Apple by 7.8% in the 3rd quarter. Leavell Investment Management Inc. now owns 259,265 shares of the iPhone maker’s stock valued at $60,409,000 after acquiring an additional 18,861 shares during the last quarter. Triune Financial Partners LLC acquired a new stake in shares of Apple during the 3rd quarter worth about $228,000. Sonata Capital Group Inc. lifted its stake in Apple by 1.3% during the third quarter. Sonata Capital Group Inc. now owns 45,823 shares of the iPhone maker’s stock worth $10,677,000 after purchasing an additional 602 shares during the last quarter. Finally, Strategic Family Wealth Counselors L.L.C. boosted its holdings in Apple by 1.6% in the third quarter. Strategic Family Wealth Counselors L.L.C. now owns 27,257 shares of the iPhone maker’s stock valued at $6,351,000 after purchasing an additional 418 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Performance

Shares of AAPL stock opened at $234.40 on Tuesday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The stock’s 50-day moving average is $240.43 and its two-hundred day moving average is $230.36. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market cap of $3.54 trillion, a P/E ratio of 38.55, a PEG ratio of 2.41 and a beta of 1.20.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share 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 company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.46 earnings per share. Analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. Apple’s payout ratio is currently 16.45%.

Wall Street Analyst Weigh In

Several brokerages recently commented on AAPL. Loop Capital cut their price target on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. StockNews.com cut Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Rosenblatt Securities boosted their target price on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a report on Friday, November 1st. Moffett Nathanson restated a “sell” rating and set a $188.00 price target (down previously from $202.00) on shares of Apple in a research note on Tuesday, January 7th. Finally, UBS Group reiterated a “neutral” rating and issued a $236.00 price objective on shares of Apple in a research note on Monday, December 2nd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $239.85.

Insider Buying and Selling

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

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.