Apple Inc. $AAPL Position Increased by Okabena Investment Services Inc.

Okabena Investment Services Inc. increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 31.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,924 shares of the iPhone maker’s stock after acquiring an additional 7,199 shares during the period. Apple comprises approximately 1.7% of Okabena Investment Services Inc.’s portfolio, making the stock its 16th biggest holding. Okabena Investment Services Inc.’s holdings in Apple were worth $6,647,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Life Planning Partners Inc bought a new position in Apple in the 4th quarter worth approximately $47,000. Elite Financial Inc. bought a new stake in shares of Apple in the 1st quarter valued at approximately $58,000. Conquis Financial LLC bought a new stake in shares of Apple in the 4th quarter valued at approximately $63,000. LSV Asset Management bought a new stake in shares of Apple in the 4th quarter valued at approximately $65,000. Finally, Pillar Financial Advisors LLC bought a new stake in shares of Apple in the 4th quarter valued at approximately $82,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Trading Up 1.4%

Shares of AAPL stock opened at $230.03 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The stock has a market cap of $3.41 trillion, a P/E ratio of 34.91, a price-to-earnings-growth ratio of 2.37 and a beta of 1.11. The stock has a 50 day simple moving average of $221.08 and a 200 day simple moving average of $212.48. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10.

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

Apple Dividend Announcement

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

Insiders Place Their Bets

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of the company’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AAPL has been the subject of several research analyst reports. HSBC set a $220.00 price objective on Apple and gave the company a “hold” rating in a research report on Monday. Citigroup reaffirmed a “buy” rating on shares of Apple in a report on Wednesday. JPMorgan Chase & Co. increased their price target on Apple from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Raymond James Financial reaffirmed an “outperform” rating and set a $240.00 price objective (up previously from $230.00) on shares of Apple in a research note on Friday, August 1st. Finally, Wedbush reaffirmed an “outperform” rating and set a $270.00 price objective on shares of Apple in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average price target of $240.80.

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.