Cyr Financial Inc. Purchases 517 Shares of Apple Inc. $AAPL

Cyr Financial Inc. lifted its stake in Apple Inc. (NASDAQ:AAPL) by 13.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,472 shares of the iPhone maker’s stock after acquiring an additional 517 shares during the period. Cyr Financial Inc.’s holdings in Apple were worth $918,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Salus Financial Advisors LLC raised its holdings in Apple by 3.9% during the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock worth $291,000 after purchasing an additional 49 shares during the last quarter. Sharpepoint LLC raised its holdings in Apple by 3.5% during the 1st quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker’s stock worth $322,000 after purchasing an additional 51 shares during the last quarter. Redwood Financial Network Corp raised its holdings in Apple by 0.6% during the 4th quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker’s stock worth $2,184,000 after purchasing an additional 53 shares during the last quarter. Mission Hills Financial Advisory LLC grew its position in shares of Apple by 1.3% during the 1st quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker’s stock worth $892,000 after buying an additional 53 shares during the period. Finally, Virginia Wealth Management Group Inc. grew its position in shares of Apple by 0.3% during the 2nd quarter. Virginia Wealth Management Group Inc. now owns 20,946 shares of the iPhone maker’s stock worth $4,298,000 after buying an additional 53 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several analyst reports. Sanford C. Bernstein initiated coverage on Apple in a research report on Monday, September 15th. They set an “outperform” rating and a $290.00 target price for the company. Tigress Financial boosted their target price on Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 17th. Barclays boosted their target price on Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a research report on Friday, August 1st. Needham & Company LLC restated a “hold” rating on shares of Apple in a research report on Friday, July 25th. Finally, Citigroup restated a “buy” rating on shares of Apple in a research report on Wednesday, September 10th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $248.29.

Insider Transactions at Apple

In other news, SVP Deirdre O’brien sold 43,013 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the completion of the transaction, the senior vice president directly owned 136,687 shares of the company’s stock, valued at $35,181,866.93. This trade represents a 23.94% decrease in their position. The sale 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 firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. This represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 254,922 shares of company stock valued at $64,320,190 in the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Apple Price Performance

NASDAQ AAPL opened at $247.45 on Friday. The business has a 50 day simple moving average of $240.67 and a 200 day simple moving average of $216.66. 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. The stock has a market cap of $3.67 trillion, a price-to-earnings ratio of 37.55, a PEG ratio of 2.43 and a beta of 1.09.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (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 business had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. During the same period in the prior year, the business earned $1.40 EPS. Apple’s revenue for the quarter was up 9.6% compared to the same quarter last year. Analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s dividend payout ratio (DPR) is currently 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.