Sunburst Financial Group LLC Increases Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Sunburst Financial Group LLC boosted its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 8.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,457 shares of the iPhone maker’s stock after acquiring an additional 1,754 shares during the period. Apple accounts for about 1.5% of Sunburst Financial Group LLC’s investment portfolio, making the stock its 16th largest position. Sunburst Financial Group LLC’s holdings in Apple were worth $3,070,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Spence Asset Management acquired a new position in Apple in the 2nd quarter valued at about $49,000. Emerson Wealth LLC raised its position in shares of Apple by 363.6% in the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after buying an additional 320 shares during the last quarter. Econ Financial Services Corp lifted its stake in shares of Apple by 29.1% during the first quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock valued at $74,000 after buying an additional 95 shares during the period. HBC Financial Services PLLC boosted its position in Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after acquiring an additional 80 shares during the last quarter. Finally, Darrow Company Inc. purchased a new stake in Apple in the 2nd quarter worth approximately $107,000. Institutional investors and hedge funds own 57.72% of the company’s stock.

Apple Stock Up 0.4 %

Shares of Apple stock opened at $138.92 on Tuesday. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The company has a market capitalization of $2.21 trillion, a PE ratio of 22.74, a P/E/G ratio of 1.75 and a beta of 1.25. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85. The business has a 50-day moving average of $148.84 and a 200-day moving average of $150.63.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.02. Apple had a return on equity of 160.90% and a net margin of 25.31%. The firm had revenue of $90.15 billion during the quarter, compared to analyst estimates of $88.77 billion. During the same quarter last year, the firm earned $1.24 EPS. Apple’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, equities analysts forecast that Apple Inc. will post 6.34 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Monday, November 7th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.66%. Apple’s dividend payout ratio (DPR) is presently 15.06%.

Insider Activity at Apple

In other Apple news, CFO Luca Maestri sold 96,735 shares of the firm’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the completion of the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Apple news, CFO Luca Maestri sold 96,735 shares of the stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Deirdre O’brien sold 176,299 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $142.16, for a total value of $25,062,665.84. Following the completion of the sale, the senior vice president now owns 136,290 shares of the company’s stock, valued at $19,374,986.40. The disclosure for this sale can be found here. Insiders have sold 457,386 shares of company stock valued at $70,627,433 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on AAPL shares. KeyCorp reduced their price target on Apple from $185.00 to $177.00 and set an “overweight” rating on the stock in a research note on Friday, October 28th. DA Davidson reduced their target price on Apple from $185.00 to $167.00 and set a “buy” rating on the stock in a research report on Friday, October 28th. Robert W. Baird lowered their price target on Apple from $185.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, October 28th. UBS Group set a $180.00 price objective on shares of Apple in a report on Tuesday. Finally, Bank Of America (Bofa) lowered shares of Apple from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $189.00 to $160.00 in a research report on Friday, September 30th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $176.85.

About Apple

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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