Pacifica Partners Inc. Has $11.88 Million Stock Holdings in Apple Inc. $AAPL

Pacifica Partners Inc. decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 59,081 shares of the iPhone maker’s stock after selling 1,356 shares during the period. Apple accounts for about 4.8% of Pacifica Partners Inc.’s investment portfolio, making the stock its 2nd largest position. Pacifica Partners Inc.’s holdings in Apple were worth $11,880,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. First National Bank of Hutchinson lifted its position in shares of Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after acquiring an additional 6,982 shares in the last quarter. Eagle Capital Management LLC raised its stake in Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after purchasing an additional 272 shares during the period. Brighton Jones LLC lifted its holdings in Apple by 14.8% in the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after purchasing an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in Apple by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after purchasing an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE grew its holdings in Apple by 2.4% during the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock valued at $12,587,000 after buying an additional 1,155 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Trading Up 0.3%

Shares of NASDAQ AAPL opened at $255.45 on Thursday. Apple Inc. has a 1-year low of $169.21 and a 1-year 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 business’s 50 day moving average is $231.34 and its two-hundred day moving average is $214.08. The stock has a market capitalization of $3.79 trillion, a P/E ratio of 38.76, a PEG ratio of 2.64 and a beta of 1.09.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS 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 firm had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. During the same quarter in the previous year, the business earned $1.40 EPS. The company’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, research analysts expect 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 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 payout ratio is 15.78%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AAPL shares. Citigroup reissued a “buy” rating on shares of Apple in a report on Wednesday, September 10th. DA Davidson reiterated a “neutral” rating and issued a $250.00 price target on shares of Apple in a research note on Thursday, September 11th. BMO Capital Markets reissued a “buy” rating on shares of Apple in a report on Wednesday, August 13th. Loop Capital reduced their target price on Apple from $230.00 to $226.00 and set a “hold” rating on the stock in a report on Thursday, August 21st. Finally, Tigress Financial increased their price target on Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 17th. Two equities research 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 assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $245.51.

Insider Buying and Selling 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 completion of the sale, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.06% of the company’s stock.

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.