Apple Inc. $AAPL Shares Sold by Quantum Financial Advisors LLC

Quantum Financial Advisors LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 0.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 68,883 shares of the iPhone maker’s stock after selling 540 shares during the quarter. Apple comprises about 1.9% of Quantum Financial Advisors LLC’s holdings, making the stock its 17th largest position. Quantum Financial Advisors LLC’s holdings in Apple were worth $14,133,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Mitchell & Pahl Private Wealth LLC grew its stake in shares of Apple by 1.9% during the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 30,245 shares of the iPhone maker’s stock worth $6,205,000 after purchasing an additional 565 shares during the period. Trinity Wealth Management LLC grew its stake in shares of Apple by 12.5% during the 2nd quarter. Trinity Wealth Management LLC now owns 10,467 shares of the iPhone maker’s stock worth $2,148,000 after purchasing an additional 1,161 shares during the period. Ullmann Wealth Partners Group LLC grew its stake in shares of Apple by 0.9% during the 2nd quarter. Ullmann Wealth Partners Group LLC now owns 25,904 shares of the iPhone maker’s stock worth $5,315,000 after purchasing an additional 231 shares during the period. Halter Ferguson Financial Inc. grew its stake in shares of Apple by 3.4% during the 2nd quarter. Halter Ferguson Financial Inc. now owns 12,306 shares of the iPhone maker’s stock worth $2,525,000 after purchasing an additional 399 shares during the period. Finally, Coastwise Capital Group LLC grew its stake in shares of Apple by 0.3% during the 2nd quarter. Coastwise Capital Group LLC now owns 32,382 shares of the iPhone maker’s stock worth $6,644,000 after purchasing an additional 93 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Trading Up 0.1%

NASDAQ AAPL opened at $254.63 on Wednesday. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company’s 50 day moving average price is $230.51 and its 200 day moving average price is $213.80. 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 capitalization of $3.78 trillion, a price-to-earnings ratio of 38.64, a PEG ratio of 2.64 and a beta of 1.11.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $88.64 billion. During the same quarter last year, the firm posted $1.40 earnings per share. Apple’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

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

Insider Transactions at Apple

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of the stock in a transaction that occurred on 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 sale, the senior vice president owned 136,687 shares of the company’s stock, valued at $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Barclays boosted their price objective on shares of Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a research report on Friday, August 1st. Monness Crespi & Hardt boosted their price objective on shares of Apple from $245.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. BMO Capital Markets restated a “buy” rating on shares of Apple in a report on Wednesday, August 13th. Melius Research set a $290.00 target price on shares of Apple and gave the company a “buy” rating in a report on Wednesday, September 10th. Finally, Morgan Stanley set a $240.00 target price on shares of Apple and gave the company an “overweight” rating in a report on Wednesday, September 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $245.51.

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.