Apple Inc. (NASDAQ:AAPL) Stock Position Lessened by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 333,081 shares of the iPhone maker’s stock after selling 7,874 shares during the period. Apple accounts for 2.4% of HBK Sorce Advisory LLC’s holdings, making the stock its 6th biggest position. HBK Sorce Advisory LLC’s holdings in Apple were worth $70,153,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Zions Bancorporation N.A. grew its position in Apple by 7.0% during the 2nd quarter. Zions Bancorporation N.A. now owns 102,706 shares of the iPhone maker’s stock worth $21,632,000 after purchasing an additional 6,689 shares during the last quarter. RS Crum Inc. lifted its stake in shares of Apple by 57.0% during the second quarter. RS Crum Inc. now owns 22,974 shares of the iPhone maker’s stock worth $4,839,000 after buying an additional 8,343 shares during the period. Scarborough Advisors LLC grew its holdings in shares of Apple by 2.9% during the second quarter. Scarborough Advisors LLC now owns 15,969 shares of the iPhone maker’s stock valued at $3,363,000 after buying an additional 450 shares during the last quarter. WPWealth LLP increased its position in shares of Apple by 0.5% in the 2nd quarter. WPWealth LLP now owns 24,884 shares of the iPhone maker’s stock valued at $5,241,000 after acquiring an additional 112 shares during the period. Finally, Sykon Capital LLC raised its stake in Apple by 41.8% in the 2nd quarter. Sykon Capital LLC now owns 24,621 shares of the iPhone maker’s stock worth $5,186,000 after acquiring an additional 7,253 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Apple Price Performance

Shares of Apple stock opened at $225.91 on Friday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. 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 firm has a market cap of $3.43 trillion, a P/E ratio of 34.39, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. The firm’s 50-day simple moving average is $227.26 and its 200-day simple moving average is $211.69.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $1.26 earnings per share. As a group, research analysts expect that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple’s payout ratio is 15.22%.

Insider Activity

In other Apple news, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. The trade was a 0.00 % decrease in their position. The sale 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 59,305 shares of Apple stock in a transaction 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 sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The trade was a 0.00 % decrease in their position. 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. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on AAPL. Piper Sandler Companies reiterated a “neutral” rating and issued a $225.00 target price (up previously from $190.00) on shares of Apple in a research report on Tuesday, July 9th. New Street Research reaffirmed a “neutral” rating and issued a $225.00 price objective on shares of Apple in a report on Wednesday, September 25th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $265.00 target price on shares of Apple in a report on Tuesday, September 10th. Cfra upped their price target on shares of Apple from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Melius Research reiterated a “buy” rating and set a $265.00 price objective on shares of Apple in a research note on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average target price of $235.91.

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.