Apple Inc. $AAPL is Investment Advisory Services Inc. TX ADV’s 7th Largest Position

Investment Advisory Services Inc. TX ADV raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,804 shares of the iPhone maker’s stock after buying an additional 1,464 shares during the quarter. Apple comprises approximately 3.3% of Investment Advisory Services Inc. TX ADV’s holdings, making the stock its 7th largest position. Investment Advisory Services Inc. TX ADV’s holdings in Apple were worth $10,013,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AAPL. Ryan Investment Management Inc. bought a new stake in Apple in the second quarter worth $31,000. ROSS JOHNSON & Associates LLC increased its position in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares during the last quarter. Elite Financial Inc. bought a new stake in Apple in the first quarter worth $58,000. LSV Asset Management purchased a new position in Apple during the fourth quarter worth $65,000. Finally, HFM Investment Advisors LLC bought a new position in Apple during the first quarter valued at $99,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on AAPL. Wedbush set a $310.00 price objective on shares of Apple and gave the company an “outperform” rating in a research report on Monday, September 22nd. Citigroup reiterated a “buy” rating on shares of Apple in a research report on Wednesday, September 10th. BMO Capital Markets reiterated a “buy” rating on shares of Apple in a research report on Wednesday, August 13th. Evercore ISI set a $290.00 price objective on shares of Apple and gave the company an “outperform” rating in a research report on Friday, September 26th. Finally, Barclays boosted their price objective on shares of Apple from $173.00 to $180.00 and gave the company an “underweight” rating in a research report on Friday, August 1st. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $248.29.

Insider Buying and Selling

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 completion of the sale, the senior vice president directly owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy D. Cook sold 129,963 shares of the company’s stock in a transaction dated Thursday, October 2nd. The stock was 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 of the company’s stock, valued at approximately $842,412,558.95. This trade represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,922 shares of company stock valued at $64,320,190 over the last three months. 0.06% of the stock is owned by company insiders.

Apple Stock Up 0.6%

Shares of AAPL opened at $249.34 on Thursday. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The firm has a fifty day moving average price of $240.12 and a 200-day moving average price of $216.49. The firm has a market capitalization of $3.70 trillion, a P/E ratio of 37.84, a P/E/G ratio of 2.41 and a beta of 1.09. The company has a current ratio of 0.87, a quick ratio of 0.83 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 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. During the same period in the prior year, the firm earned $1.40 earnings per share. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently disclosed 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 dividend payout ratio is 15.78%.

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.