Park Edge Advisors LLC Acquires 720 Shares of Apple Inc. $AAPL

Park Edge Advisors LLC raised its holdings in Apple Inc. (NASDAQ:AAPL) by 6.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,378 shares of the iPhone maker’s stock after acquiring an additional 720 shares during the quarter. Park Edge Advisors LLC’s holdings in Apple were worth $2,540,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Burkett Financial Services LLC increased its stake in Apple by 0.6% in the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock worth $3,199,000 after purchasing an additional 93 shares during the period. Avid Wealth Partners LLC increased its holdings in Apple by 28.3% during the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock worth $935,000 after purchasing an additional 930 shares during the period. Bell & Brown Wealth Advisors LLC increased its holdings in Apple by 0.4% during the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock worth $13,772,000 after purchasing an additional 240 shares during the period. OneAscent Wealth Management LLC increased its holdings in Apple by 4.6% during the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker’s stock worth $2,337,000 after purchasing an additional 409 shares during the period. Finally, Andina Capital Management LLC increased its holdings in Apple by 209.2% during the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock worth $1,507,000 after purchasing an additional 4,591 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the topic of several research reports. BMO Capital Markets restated a “buy” rating on shares of Apple in a report on Wednesday, August 13th. Morgan Stanley set a $240.00 price objective on Apple and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. Citigroup restated a “buy” rating on shares of Apple in a report on Wednesday, September 10th. DA Davidson restated a “neutral” rating and set a $250.00 price objective on shares of Apple in a report on Thursday, September 11th. Finally, Phillip Securities downgraded Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price objective on the stock. in a report on Thursday, September 11th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $241.93.

Apple Stock Performance

Shares of AAPL opened at $237.88 on Friday. The stock has a 50-day moving average of $223.66 and a two-hundred day moving average of $212.35. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a market cap of $3.53 trillion, a P/E ratio of 36.10, a P/E/G ratio of 2.48 and a beta of 1.11.

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

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple’s payout ratio is currently 15.78%.

Insider Buying and Selling

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of Apple stock in a transaction dated Friday, August 8th. The stock was 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 owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.06% of the company’s stock.

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.