Farther Finance Advisors LLC Has $117.70 Million Stake in Apple Inc. $AAPL

Farther Finance Advisors LLC lifted its holdings in Apple Inc. (NASDAQ:AAPL) by 17.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 573,665 shares of the iPhone maker’s stock after acquiring an additional 84,913 shares during the period. Apple makes up approximately 2.4% of Farther Finance Advisors LLC’s portfolio, making the stock its 4th biggest position. Farther Finance Advisors LLC’s holdings in Apple were worth $117,698,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Kingstone Capital Partners Texas LLC boosted its position in shares of Apple by 573,627.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock worth $39,065,374,000 after purchasing an additional 205,656,808 shares in the last quarter. Norges Bank bought a new position in shares of Apple during the 4th quarter worth about $46,868,648,000. Nuveen LLC bought a new position in shares of Apple during the 1st quarter worth about $17,472,482,000. GAMMA Investing LLC boosted its position in shares of Apple by 25,934.1% during the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock worth $133,425,490,000 after purchasing an additional 59,835,676 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Apple by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker’s stock worth $349,532,608,000 after purchasing an additional 49,168,843 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Apple Trading Down 0.4%

NASDAQ:AAPL opened at $254.43 on Tuesday. 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 $3.78 trillion, a price-to-earnings ratio of 38.61, a price-to-earnings-growth ratio of 2.65 and a beta of 1.11. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The firm has a 50-day moving average price of $229.71 and a two-hundred day moving average price of $213.51.

Apple (NASDAQ:AAPL) last posted 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 firm had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. During the same quarter last year, the business posted $1.40 EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities 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. Stockholders of record on Monday, August 11th were paid a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is presently 15.78%.

Insider Activity

In other news, SVP Deirdre O’brien sold 34,821 shares of the firm’s stock in a transaction that occurred 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 owned 136,687 shares in the company, valued at $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 available at this hyperlink. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AAPL shares. Bank of America increased their price objective on shares of Apple from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Raymond James Financial restated an “outperform” rating and issued a $240.00 target price (up previously from $230.00) on shares of Apple in a report on Friday, August 1st. Sanford C. Bernstein began coverage on shares of Apple in a report on Monday, September 15th. They issued an “outperform” rating and a $290.00 target price on the stock. BMO Capital Markets restated a “buy” rating on shares of Apple in a report on Wednesday, August 13th. Finally, Melius Research set a $290.00 target price on shares of Apple and gave the stock a “buy” rating in a report on Wednesday, September 10th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average price target of $245.66.

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.