Capital Asset Advisory Services LLC Boosts Stake in Apple Inc. $AAPL

Capital Asset Advisory Services LLC boosted its holdings in Apple Inc. (NASDAQ:AAPL) by 35.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 185,477 shares of the iPhone maker’s stock after acquiring an additional 48,140 shares during the quarter. Apple comprises approximately 1.8% of Capital Asset Advisory Services LLC’s portfolio, making the stock its 16th biggest holding. Capital Asset Advisory Services LLC’s holdings in Apple were worth $38,546,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. First National Bank of Hutchinson boosted its stake in shares of Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after acquiring an additional 6,982 shares in the last quarter. Eagle Capital Management LLC raised its holdings in Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after purchasing an additional 272 shares during the last quarter. Brighton Jones LLC raised its holdings in Apple by 14.8% during the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after purchasing an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in Apple by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after purchasing an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE grew its holdings in Apple by 2.4% in the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock valued at $12,587,000 after purchasing an additional 1,155 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on AAPL. Jefferies Financial Group boosted their price objective on shares of Apple from $190.67 to $205.82 and gave the stock a “hold” rating in a research report on Monday, September 8th. Bank of America upped their price target on shares of Apple from $260.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Needham & Company LLC reissued a “hold” rating on shares of Apple in a research note on Friday, July 25th. Citigroup reaffirmed a “buy” rating on shares of Apple in a research note on Wednesday, September 10th. Finally, Melius Research set a $290.00 target price on Apple and gave the company a “buy” rating in a report on Wednesday, September 10th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $241.93.

Insider Buying and Selling at Apple

In related 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 completion of the sale, the senior vice president directly owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

Apple stock opened at $237.88 on Friday. The company has a market cap of $3.53 trillion, a price-to-earnings ratio of 36.10, a price-to-earnings-growth ratio of 2.48 and a beta of 1.11. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The stock’s 50-day moving average is $223.66 and its 200-day moving average is $212.35.

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

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s dividend payout ratio (DPR) is currently 15.78%.

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.