BFI Infinity Ltd. Decreases Stock Position in Apple Inc. $AAPL

BFI Infinity Ltd. lessened its stake in Apple Inc. (NASDAQ:AAPL) by 26.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,367 shares of the iPhone maker’s stock after selling 493 shares during the quarter. BFI Infinity Ltd.’s holdings in Apple were worth $280,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. Salus Financial Advisors LLC raised its position in shares of Apple by 3.9% in the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock valued at $291,000 after purchasing an additional 49 shares in the last quarter. Sharpepoint LLC raised its position in shares of Apple by 3.5% in the 1st quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker’s stock valued at $322,000 after purchasing an additional 51 shares in the last quarter. Redwood Financial Network Corp raised its position in shares of Apple by 0.6% in the 4th quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker’s stock valued at $2,184,000 after purchasing an additional 53 shares in the last quarter. Mission Hills Financial Advisory LLC raised its position in shares of Apple by 1.3% in the 1st quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker’s stock valued at $892,000 after purchasing an additional 53 shares in the last quarter. Finally, Virginia Wealth Management Group Inc. raised 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 valued at $4,298,000 after acquiring an additional 53 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the transaction, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at approximately $842,412,558.95. This represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Kevan Parekh sold 4,199 shares of the stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $247.39, for a total value of $1,038,790.61. Following the completion of the transaction, the chief financial officer directly owned 8,765 shares of the company’s stock, valued at approximately $2,168,373.35. The trade was a 32.39% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 259,121 shares of company stock worth $65,358,981. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on AAPL shares. Barclays raised their price objective on Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a research note on Friday, August 1st. Bank of America raised their price objective on Apple from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. CLSA upgraded Apple to a “strong-buy” rating in a research note on Sunday, October 5th. Morgan Stanley set a $298.00 price objective on Apple and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. 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. Four research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $248.29.

Apple Price Performance

Shares of NASDAQ AAPL opened at $252.29 on Friday. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The firm has a market capitalization of $3.74 trillion, a PE ratio of 38.28, a P/E/G ratio of 2.41 and a beta of 1.09. The business’s fifty day moving average price is $241.13 and its two-hundred day moving average price is $216.86. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. During the same quarter in the prior year, the business posted $1.40 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, research analysts expect that Apple Inc. will post 7.28 EPS for the current 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 $0.26 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio is presently 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.