Financial Advisory Partners LLC Sells 400 Shares of Apple Inc. $AAPL

Financial Advisory Partners LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 22,619 shares of the iPhone maker’s stock after selling 400 shares during the period. Apple makes up 1.5% of Financial Advisory Partners LLC’s holdings, making the stock its 22nd largest position. Financial Advisory Partners LLC’s holdings in Apple were worth $4,641,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Ryan Investment Management Inc. bought a new stake in shares of Apple in the second quarter worth about $31,000. ROSS JOHNSON & Associates LLC grew its position in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares during the period. Conquis Financial LLC bought a new stake in Apple during the 4th quarter worth approximately $63,000. LSV Asset Management acquired a new stake in Apple during the 4th quarter worth approximately $65,000. Finally, Elite Financial Inc. bought a new position in Apple in the first quarter valued at approximately $58,000. 67.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Tigress Financial raised their price objective on shares of Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a report on Wednesday, September 17th. DA Davidson restated a “neutral” rating and issued a $250.00 price target on shares of Apple in a report on Thursday, September 11th. Moffett Nathanson raised Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price on the stock in a research report on Thursday, September 4th. UBS Group reaffirmed a “neutral” rating on shares of Apple in a research report on Monday, September 8th. Finally, Barclays raised their price target on shares of Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $245.51.

Apple Price Performance

NASDAQ:AAPL opened at $255.45 on Thursday. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company has a market cap of $3.79 trillion, a P/E ratio of 38.76, a P/E/G ratio of 2.64 and a beta of 1.09. The firm’s fifty day moving average price is $231.34 and its two-hundred day moving average price is $214.08. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share 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 for the quarter, compared to analyst estimates of $88.64 billion. During the same quarter last year, the company earned $1.40 earnings per share. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. Equities analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced 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. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple’s dividend payout ratio 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 transaction, the senior vice president directly owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.