Narus Financial Partners LLC Purchases 923 Shares of Apple Inc. $AAPL

Narus Financial Partners LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 5.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,599 shares of the iPhone maker’s stock after purchasing an additional 923 shares during the period. Apple comprises about 1.2% of Narus Financial Partners LLC’s investment portfolio, making the stock its 8th largest position. Narus Financial Partners LLC’s holdings in Apple were worth $3,816,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advanced Portfolio Management LLC raised its holdings in shares of Apple by 0.3% in the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock worth $3,260,000 after buying an additional 47 shares in the last quarter. Salus Financial Advisors LLC grew its position in Apple by 3.9% in the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock valued at $291,000 after acquiring an additional 49 shares during the period. Sharpepoint LLC raised its stake in Apple by 3.5% during the first quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker’s stock worth $322,000 after acquiring an additional 51 shares in the last quarter. Redwood Financial Network Corp lifted its holdings in shares of Apple by 0.6% during the fourth quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker’s stock valued at $2,184,000 after acquiring an additional 53 shares during the period. Finally, Mission Hills Financial Advisory LLC boosted its stake in shares of Apple by 1.3% in the 1st quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker’s stock valued at $892,000 after purchasing an additional 53 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Insider Transactions at Apple

In other news, SVP Deirdre O’brien sold 34,821 shares of the firm’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 transaction, the senior vice president 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AAPL. JPMorgan Chase & Co. increased their target price on shares of Apple from $255.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, September 19th. Barclays upped their price objective 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. Citigroup reiterated a “buy” rating on shares of Apple in a research note on Wednesday, September 10th. HSBC set a $220.00 price target on Apple and gave the stock a “hold” rating in a research report on Monday, September 8th. Finally, DA Davidson reiterated a “neutral” rating and issued a $250.00 price objective on shares of Apple in a research report on Thursday, September 11th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $245.51.

Apple Stock Performance

AAPL stock opened at $255.45 on Thursday. The company has a 50 day moving average price of $231.34 and a 200 day moving average price of $214.08. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week 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 stock has a market capitalization of $3.79 trillion, a PE ratio of 38.76, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

Apple (NASDAQ:AAPL) last released 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 during the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter in the previous year, the company posted $1.40 earnings per share. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. Analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

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. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple’s dividend payout ratio is presently 15.78%.

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.