Horizon Financial Services LLC Purchases 743,601 Shares of Apple Inc. $AAPL

Horizon Financial Services LLC raised its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 20,644.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 747,203 shares of the iPhone maker’s stock after buying an additional 743,601 shares during the period. Apple comprises approximately 1.4% of Horizon Financial Services LLC’s portfolio, making the stock its 21st largest position. Horizon Financial Services LLC’s holdings in Apple were worth $165,976,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Life Planning Partners Inc purchased a new stake in Apple during the fourth quarter valued at approximately $47,000. Conquis Financial LLC acquired a new position in Apple during the 4th quarter worth $63,000. LSV Asset Management purchased a new stake in shares of Apple in the 4th quarter valued at approximately $65,000. Pillar Financial Advisors LLC purchased a new position in Apple during the 4th quarter worth $82,000. Finally, Compass Planning Associates Inc purchased a new position in Apple during the 4th quarter worth $96,000. 67.73% of the stock is owned by institutional investors.

Apple Price Performance

NASDAQ AAPL opened at $230.89 on Tuesday. The business’s fifty day moving average is $210.28 and its two-hundred day moving average is $212.94. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The stock has a market capitalization of $3.43 trillion, a P/E ratio of 35.04, a P/E/G ratio of 2.42 and a beta of 1.16.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.14. The firm had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.40 earnings per share. On average, research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple declared that its board has initiated a share buyback program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, August 11th. Apple’s payout ratio is presently 15.78%.

Insider Transactions at Apple

In related news, SVP Deirdre O’brien sold 34,821 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the transaction, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on AAPL. Citigroup boosted their price objective on shares of Apple from $240.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, August 1st. JPMorgan Chase & Co. increased their price target on shares of Apple from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Evercore ISI reiterated an “outperform” rating and set a $250.00 price target on shares of Apple in a research note on Wednesday, August 13th. Jefferies Financial Group raised Apple from an “underperform” rating to a “hold” rating in a report on Friday, July 18th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $217.00 price objective on shares of Apple in a research report on Tuesday, July 29th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus target price of $237.60.

About Apple

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.