Sandbox Financial Partners LLC Has $28.63 Million Position in Apple Inc. $AAPL

Sandbox Financial Partners LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 7.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 139,523 shares of the iPhone maker’s stock after selling 11,306 shares during the period. Apple comprises 9.0% of Sandbox Financial Partners LLC’s portfolio, making the stock its 2nd biggest position. Sandbox Financial Partners LLC’s holdings in Apple were worth $28,626,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. ROSS JOHNSON & Associates LLC increased its stake 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 valued at $42,000 after buying an additional 180 shares during the period. Life Planning Partners Inc purchased a new position in shares of Apple during the fourth quarter valued at $47,000. Elite Financial Inc. purchased a new position in shares of Apple in the 1st quarter valued at $58,000. Conquis Financial LLC purchased a new position in shares of Apple in the 4th quarter valued at $63,000. Finally, LSV Asset Management purchased a new position in shares of Apple in the 4th quarter valued at $65,000. 67.73% of the stock is owned by institutional investors.

Apple Price Performance

AAPL stock opened at $245.50 on Monday. The stock’s 50 day moving average price is $224.35 and its 200 day moving average price is $212.10. 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 firm has a market cap of $3.64 trillion, a P/E ratio of 37.25, a PEG ratio of 2.55 and a beta of 1.11. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10.

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

Apple Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple’s dividend payout ratio is currently 15.78%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AAPL. Citigroup reiterated a “buy” rating on shares of Apple in a research note on Wednesday, September 10th. DA Davidson reiterated a “neutral” rating and set a $250.00 price objective on shares of Apple in a research note on Thursday, September 11th. JPMorgan Chase & Co. increased their price objective on Apple from $255.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday. Loop Capital lowered their price target on Apple from $230.00 to $226.00 and set a “hold” rating for the company in a research report on Thursday, August 21st. Finally, UBS Group reiterated a “neutral” rating on shares of Apple in a research note on Monday, September 8th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $242.74.

Insiders Place Their Bets

In other Apple 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 completion of the transaction, the senior vice president directly owned 136,687 shares of the company’s stock, valued at $30,508,538.40. This represents a 20.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.06% of the stock is currently owned by insiders.

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.