Apple Inc. (NASDAQ:AAPL) Position Boosted by IFG Advisory LLC

IFG Advisory LLC lifted its stake in Apple Inc. (NASDAQ:AAPLFree Report) by 1.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 147,266 shares of the iPhone maker’s stock after buying an additional 2,235 shares during the quarter. Apple makes up about 2.0% of IFG Advisory LLC’s investment portfolio, making the stock its 6th largest position. IFG Advisory LLC’s holdings in Apple were worth $31,017,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of AAPL. Yeomans Consulting Group Inc. bought a new stake in Apple in the fourth quarter worth $1,713,000. Raleigh Capital Management Inc. increased its position in Apple by 11.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock valued at $2,986,000 after acquiring an additional 1,643 shares during the last quarter. GLOBALT Investments LLC GA bought a new position in Apple during the fourth quarter valued at $38,406,000. Sunpointe LLC bought a new position in Apple during the fourth quarter valued at $4,782,000. Finally, Golden Road Advisors LLC bought a new position in Apple during the fourth quarter valued at $1,575,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Stock Down 0.7 %

NASDAQ:AAPL opened at $227.55 on Friday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The stock has a market capitalization of $3.49 trillion, a P/E ratio of 35.39, a P/E/G ratio of 2.40 and a beta of 1.24. The company’s 50-day simple moving average is $223.62 and its 200-day simple moving average is $205.70.

Apple (NASDAQ:AAPLGet Free Report) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. During the same period last year, the firm posted $1.26 EPS. Apple’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities analysts anticipate that Apple Inc. will post 6.65 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio is presently 15.55%.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of analyst reports. Maxim Group reiterated a “hold” rating and set a $203.00 price objective on shares of Apple in a research report on Tuesday, September 10th. Bank of America reiterated a “buy” rating and set a $256.00 price objective on shares of Apple in a research report on Thursday, October 3rd. Rosenblatt Securities reiterated a “buy” rating and set a $261.00 price objective on shares of Apple in a research report on Tuesday, September 10th. Barclays reiterated an “underweight” rating and set a $186.00 price objective on shares of Apple in a research report on Tuesday, October 1st. Finally, UBS Group boosted their target price on shares of Apple from $190.00 to $236.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $239.27.

Read Our Latest Stock Report on AAPL

Insiders Place Their Bets

In other Apple news, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the transaction, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $111,148,695.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 517,924 shares of company stock valued at $114,786,399. 0.06% of the stock is owned by insiders.

Apple Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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