Savvy Advisors Inc. Acquires 13,372 Shares of Apple Inc. (NASDAQ:AAPL)

Savvy Advisors Inc. grew its holdings in Apple Inc. (NASDAQ:AAPL) by 46.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,934 shares of the iPhone maker’s stock after purchasing an additional 13,372 shares during the quarter. Apple makes up 2.0% of Savvy Advisors Inc.’s portfolio, making the stock its 11th biggest position. Savvy Advisors Inc.’s holdings in Apple were worth $9,771,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Bull Oak Capital LLC raised its stake in shares of Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after acquiring an additional 111 shares in the last quarter. Hershey Financial Advisers LLC purchased a new stake in Apple during the 2nd quarter worth approximately $42,000. Christopher J. Hasenberg Inc grew its position in Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares during the last quarter. ARK Investment Management LLC purchased a new stake in Apple during the 3rd quarter worth approximately $110,000. Finally, Cordant Inc. grew its position in Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after purchasing an additional 173 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Price Performance

Shares of NASDAQ AAPL opened at $229.98 on Monday. The firm has a 50-day simple moving average of $241.01 and a 200-day simple moving average of $230.72. The stock has a market capitalization of $3.46 trillion, a price-to-earnings ratio of 37.83, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. 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 Inc. has a 52 week low of $164.07 and a 52 week high of $260.10.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating 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 business had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same period in the prior year, the business earned $1.46 earnings per share. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

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

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the 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 completion of the transaction, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on AAPL shares. Rosenblatt Securities boosted their target price on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Moffett Nathanson reaffirmed a “sell” rating and issued a $188.00 price objective (down from $202.00) on shares of Apple in a report on Tuesday, January 7th. Citigroup upped their price objective on shares of Apple to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Wedbush upped their price objective on shares of Apple from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, December 26th. Finally, Wells Fargo & Company increased their price target on shares of Apple to $275.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Three equities 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $239.85.

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.