IAM Advisory LLC Purchases 72 Shares of Apple Inc. $AAPL

IAM Advisory LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,934 shares of the iPhone maker’s stock after buying an additional 72 shares during the quarter. Apple accounts for about 1.1% of IAM Advisory LLC’s portfolio, making the stock its 15th biggest holding. IAM Advisory LLC’s holdings in Apple were worth $4,705,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. ROSS JOHNSON & Associates LLC grew its holdings in shares of Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after buying an additional 180 shares in the last quarter. Life Planning Partners Inc bought a new position in shares of Apple during the fourth quarter worth about $47,000. Elite Financial Inc. bought a new position in shares of Apple during the first quarter worth about $58,000. Conquis Financial LLC bought a new position in shares of Apple during the fourth quarter worth about $63,000. Finally, LSV Asset Management bought a new position in shares of Apple during the fourth quarter worth about $65,000. 67.73% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Deirdre O’brien sold 34,821 shares of Apple stock in a transaction on Friday, August 8th. The stock was 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 trade represents a 20.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.

Apple Price Performance

Apple stock opened at $245.50 on Monday. The stock’s fifty day moving average price is $224.35 and its two-hundred day moving average price is $212.10. 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 current ratio of 0.87 and a quick ratio of 0.83. The firm has a market cap of $3.64 trillion, a PE ratio of 37.25, a price-to-earnings-growth ratio of 2.55 and a beta of 1.11.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data 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 firm had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same quarter last year, the company earned $1.40 EPS. The company’s revenue was up 9.6% on a year-over-year basis. As a group, research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages recently commented on AAPL. HSBC set a $220.00 price target on Apple and gave the company a “hold” rating in a research report on Monday, September 8th. Tigress Financial increased their price target on Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a research report on Wednesday, September 17th. Raymond James Financial reissued an “outperform” rating and set a $240.00 price target (up from $230.00) on shares of Apple in a research report on Friday, August 1st. Phillip Securities cut Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price target for the company. in a research report on Thursday, September 11th. Finally, Evercore ISI increased their price target on Apple from $250.00 to $260.00 and gave the company an “outperform” rating in a research 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 issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $242.74.

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.