Smith Anglin Financial LLC Has $22.66 Million Stake in Apple Inc. $AAPL

Smith Anglin Financial LLC lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,455 shares of the iPhone maker’s stock after buying an additional 1,580 shares during the quarter. Apple comprises approximately 2.1% of Smith Anglin Financial LLC’s investment portfolio, making the stock its 12th biggest holding. Smith Anglin Financial LLC’s holdings in Apple were worth $22,662,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Burkett Financial Services LLC grew its position in shares of Apple by 0.6% during the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock worth $3,199,000 after buying an additional 93 shares during the period. Avid Wealth Partners LLC grew its holdings in 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 during the period. Bell & Brown Wealth Advisors LLC grew its holdings in 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 during the period. American National Bank & Trust grew its holdings in Apple by 2.4% during the second quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock valued at $40,107,000 after purchasing an additional 4,543 shares during the period. Finally, Andina Capital Management LLC grew its holdings in 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 during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Performance

Shares of AAPL opened at $247.45 on Friday. 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 Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The firm’s 50 day moving average price is $240.67 and its two-hundred day moving average price is $216.66. The firm has a market cap of $3.67 trillion, a P/E ratio of 37.55, a PEG ratio of 2.43 and a beta of 1.09.

Apple (NASDAQ:AAPL) last announced its quarterly 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. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same quarter in the previous year, the firm posted $1.40 earnings per share. The business’s revenue was up 9.6% on a year-over-year basis. On average, analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s payout ratio is currently 15.78%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on AAPL shares. Raymond James Financial restated an “outperform” rating and set a $240.00 price objective (up previously from $230.00) on shares of Apple in a report on Friday, August 1st. Needham & Company LLC restated a “hold” rating on shares of Apple in a report on Friday, July 25th. Monness Crespi & Hardt boosted their price objective on shares of Apple from $245.00 to $270.00 and gave the company a “buy” rating in a report on Friday, August 1st. Seaport Res Ptn upgraded shares of Apple to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, CLSA upgraded shares of Apple to a “strong-buy” rating in a report on Sunday, October 5th. Four analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $248.29.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 129,963 shares of the business’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total value of $33,375,798.03. Following the sale, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 completion of the sale, the senior vice president directly owned 136,687 shares in the company, valued at approximately $35,181,866.93. This represents a 23.94% 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 90 days. 0.06% of the stock is owned by corporate insiders.

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.