Powers Advisory Group LLC Has $2.20 Million Stock Position in Apple Inc. $AAPL

Powers Advisory Group LLC increased its stake in Apple Inc. (NASDAQ:AAPL) by 1.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,698 shares of the iPhone maker’s stock after acquiring an additional 154 shares during the quarter. Apple comprises 1.0% of Powers Advisory Group LLC’s holdings, making the stock its 19th largest holding. Powers Advisory Group LLC’s holdings in Apple were worth $2,195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. FMB Wealth Management lifted its stake in shares of Apple by 12.4% in the second quarter. FMB Wealth Management now owns 19,592 shares of the iPhone maker’s stock worth $4,020,000 after acquiring an additional 2,155 shares during the period. Elwood & Goetz Wealth Advisory Group LLC lifted its stake in shares of Apple by 8.4% in the second quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 16,353 shares of the iPhone maker’s stock worth $3,355,000 after acquiring an additional 1,265 shares during the period. Spectrum Strategic Capital Management LLC lifted its stake in shares of Apple by 17.1% in the second quarter. Spectrum Strategic Capital Management LLC now owns 20,472 shares of the iPhone maker’s stock worth $4,200,000 after acquiring an additional 2,996 shares during the period. Emerald Advisors LLC lifted its stake in shares of Apple by 8.0% in the second quarter. Emerald Advisors LLC now owns 22,017 shares of the iPhone maker’s stock worth $4,517,000 after acquiring an additional 1,634 shares during the period. Finally, LifeGuide Financial Advisors LLC lifted its stake in shares of Apple by 24.4% in the second quarter. LifeGuide Financial Advisors LLC now owns 3,694 shares of the iPhone maker’s stock worth $758,000 after acquiring an additional 725 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 43,013 shares of the company’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 owned 136,687 shares in the company, valued at approximately $35,181,866.93. This represents a 23.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kevan Parekh sold 4,199 shares of the company’s 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 sale, the chief financial officer owned 8,765 shares of the company’s stock, valued at $2,168,373.35. This trade represents a 32.39% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 259,121 shares of company stock worth $65,358,981. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Apple in a research note on Wednesday, October 8th. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a report on Friday, July 25th. Evercore ISI set a $290.00 target price on Apple and gave the stock an “outperform” rating in a report on Friday, September 26th. Moffett Nathanson upgraded Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price for the company in a report on Thursday, September 4th. Finally, Citigroup reiterated a “buy” rating on shares of Apple in a report on Wednesday, September 10th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $248.29.

Apple Trading Up 2.0%

NASDAQ AAPL opened at $252.29 on Friday. The company has a market cap of $3.74 trillion, a price-to-earnings ratio of 38.28, a P/E/G ratio of 2.46 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 $241.13 and a 200-day moving average price of $216.81. 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 declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were issued a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend 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.