Apple Inc. (NASDAQ:AAPL) is Morling Financial Advisors LLC’s 4th Largest Position

Morling Financial Advisors LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 1.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,208 shares of the iPhone maker’s stock after selling 387 shares during the quarter. Apple comprises approximately 7.0% of Morling Financial Advisors LLC’s investment portfolio, making the stock its 4th biggest position. Morling Financial Advisors LLC’s holdings in Apple were worth $5,361,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Aaron Wealth Advisors LLC boosted its holdings in Apple by 30,391.8% during the 1st quarter. Aaron Wealth Advisors LLC now owns 26,075,085 shares of the iPhone maker’s stock valued at $149,333,000 after acquiring an additional 25,989,570 shares during the period. Capital Research Global Investors boosted its holdings in Apple by 31.7% during the 1st quarter. Capital Research Global Investors now owns 38,903,911 shares of the iPhone maker’s stock valued at $6,793,041,000 after acquiring an additional 9,354,484 shares during the period. Vanguard Group Inc. boosted its holdings in Apple by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after acquiring an additional 8,734,393 shares during the period. Swiss National Bank boosted its holdings in Apple by 13.1% during the 1st quarter. Swiss National Bank now owns 71,060,708 shares of the iPhone maker’s stock valued at $12,407,910,000 after acquiring an additional 8,230,300 shares during the period. Finally, CFS Investment Advisory Services LLC boosted its holdings in Apple by 18,263.5% during the 1st quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock valued at $47,000 after acquiring an additional 7,416,445 shares during the period. 57.72% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Up 1.9 %

Apple stock opened at $149.70 on Friday. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The company has a market cap of $2.38 trillion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 1.77 and a beta of 1.25. The stock’s 50 day moving average price is $147.66 and its 200 day moving average price is $150.25.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $88.77 billion. During the same period in the previous year, the business earned $1.24 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, sell-side analysts predict that Apple Inc. will post 6.32 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were given a dividend of $0.23 per share. The ex-dividend date was Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. Apple’s payout ratio is 15.06%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AAPL shares. Fundamental Research increased their price target on Apple to $168.50 and gave the company a “buy” rating in a research report on Tuesday. Bank of America reduced their price target on Apple from $160.00 to $154.00 and set a “neutral” rating on the stock in a research report on Monday, November 7th. Wells Fargo & Company reduced their price target on Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. Credit Suisse Group set a $184.00 price target on Apple in a research report on Monday, November 7th. Finally, Morgan Stanley reduced their price target on Apple from $177.00 to $175.00 and set an “overweight” rating on the stock in a research report on Tuesday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $176.26.

Insiders Place Their Bets

In other Apple news, CFO Luca Maestri sold 176,299 shares of the business’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at $17,259,454.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Apple news, CFO Luca Maestri sold 176,299 shares of the business’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at $17,259,454.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 8,053 shares of the business’s stock in a transaction on Monday, October 17th. The stock was sold at an average price of $142.45, for a total value of $1,147,149.85. Following the sale, the senior vice president now owns 136,290 shares in the company, valued at $19,414,510.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 457,386 shares of company stock worth $70,627,433. 0.06% of the stock is owned by corporate insiders.

About Apple

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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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