Beacon Investment Advisory Services Inc. Decreases Stock Holdings in Apple Inc. $AAPL

Beacon Investment Advisory Services Inc. lowered its stake in Apple Inc. (NASDAQ:AAPL) by 4.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 298,644 shares of the iPhone maker’s stock after selling 15,517 shares during the period. Apple makes up 2.7% of Beacon Investment Advisory Services Inc.’s holdings, making the stock its 6th biggest holding. Beacon Investment Advisory Services Inc.’s holdings in Apple were worth $61,273,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the business. Burkett Financial Services LLC boosted its stake in shares of Apple by 0.6% during the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock valued at $3,199,000 after purchasing an additional 93 shares in the last quarter. Avid Wealth Partners LLC boosted its stake in shares of Apple by 28.3% during the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock valued at $935,000 after purchasing an additional 930 shares in the last quarter. Bell & Brown Wealth Advisors LLC boosted its stake in shares of Apple by 0.4% during the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock valued at $13,772,000 after purchasing an additional 240 shares in the last quarter. Andina Capital Management LLC boosted its stake in shares of Apple by 209.2% during the first quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock valued at $1,507,000 after purchasing an additional 4,591 shares in the last quarter. Finally, Plum Street Advisors LLC boosted its stake in shares of Apple by 4.0% during the first quarter. Plum Street Advisors LLC now owns 7,889 shares of the iPhone maker’s stock valued at $1,752,000 after purchasing an additional 301 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on AAPL shares. DA Davidson reissued a “neutral” rating and set a $250.00 price target on shares of Apple in a research note on Thursday, September 11th. Phillip Securities lowered Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price objective on the stock. in a research note on Thursday, September 11th. BMO Capital Markets reaffirmed a “buy” rating on shares of Apple in a research note on Wednesday, August 13th. Rosenblatt Securities lifted their price objective on Apple from $223.00 to $241.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 10th. Finally, Evercore ISI set a $290.00 price objective on Apple and gave the stock an “outperform” rating in a research note on Friday, September 26th. Three equities research 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 assigned a Sell rating to the company. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $247.49.

Apple Trading Down 0.1%

NASDAQ AAPL opened at $256.48 on Wednesday. The company has a market cap of $3.81 trillion, a price-to-earnings ratio of 38.92, a P/E/G ratio of 2.50 and a beta of 1.09. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The business has a 50 day moving average price of $234.84 and a 200-day moving average price of $215.25. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. The firm had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.40 earnings per share. As a group, equities analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid 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 payout ratio is presently 15.78%.

Insider Activity at Apple

In related news, SVP Deirdre O’brien sold 43,013 shares of the business’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the sale, the senior vice president directly owned 136,687 shares in the company, valued at approximately $35,181,866.93. The trade was a 23.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 254,922 shares of company stock worth $64,320,190. 0.06% of the stock is owned by company insiders.

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.