CRA Financial Services LLC Purchases 413 Shares of Apple Inc. $AAPL

CRA Financial Services LLC raised its position in Apple Inc. (NASDAQ:AAPL) by 0.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 203,169 shares of the iPhone maker’s stock after purchasing an additional 413 shares during the quarter. Apple comprises approximately 6.4% of CRA Financial Services LLC’s investment portfolio, making the stock its biggest holding. CRA Financial Services LLC’s holdings in Apple were worth $41,684,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Ryan Investment Management Inc. acquired a new position in shares of Apple during the second quarter valued at approximately $31,000. ROSS JOHNSON & Associates LLC increased its stake in shares of Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 180 shares during the period. Life Planning Partners Inc acquired a new position in Apple in the fourth quarter worth approximately $47,000. Elite Financial Inc. acquired a new position in Apple in the first quarter worth approximately $58,000. Finally, Conquis Financial LLC acquired a new position in Apple in the fourth quarter worth approximately $63,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. UBS Group restated a “neutral” rating on shares of Apple in a research report on Monday, September 8th. Morgan Stanley set a $298.00 price objective on shares of Apple and gave the stock an “overweight” rating in a research note on Thursday. Seaport Res Ptn raised shares of Apple to a “strong-buy” rating in a research note on Wednesday. Evercore ISI set a $290.00 target price on shares of Apple and gave the company an “outperform” rating in a research note on Friday, September 26th. Finally, Phillip Securities lowered shares of Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 target price for the company. in a research note on Thursday, September 11th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $247.49.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 47,125 shares of the company’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the sale, the senior vice president owned 179,158 shares of the company’s stock, valued at $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 129,963 shares of the company’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the completion of the sale, the chief executive officer directly owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. The trade was a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,922 shares of company stock valued at $64,320,190 over the last quarter. 0.06% of the stock is owned by company insiders.

Apple Stock Performance

NASDAQ:AAPL opened at $258.02 on Friday. The company has a market cap of $3.83 trillion, a price-to-earnings ratio of 39.15, a PEG ratio of 2.49 and a beta of 1.09. The firm’s 50-day moving average is $233.09 and its 200-day moving average is $214.69. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion for the quarter, compared to analysts’ expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.40 earnings per share. Equities research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid a $0.26 dividend. The ex-dividend date of this dividend 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 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.