Pure Financial Advisors LLC Raises Position in Apple Inc. $AAPL

Pure Financial Advisors LLC boosted its stake in Apple Inc. (NASDAQ:AAPL) by 57.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 279,045 shares of the iPhone maker’s stock after buying an additional 101,892 shares during the quarter. Apple makes up approximately 1.0% of Pure Financial Advisors LLC’s portfolio, making the stock its 21st largest holding. Pure Financial Advisors LLC’s holdings in Apple were worth $57,252,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Apple by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker’s stock valued at $311,157,662,000 after buying an additional 5,005,297 shares in the last quarter. Kingstone Capital Partners Texas LLC lifted its stake in Apple by 573,627.2% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock valued at $39,065,374,000 after buying an additional 205,656,808 shares in the last quarter. Northern Trust Corp raised its holdings in Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after acquiring an additional 20,079,472 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Apple by 14.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock valued at $26,220,566,000 after acquiring an additional 13,137,968 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Apple by 1.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 98,099,909 shares of the iPhone maker’s stock valued at $21,790,933,000 after purchasing an additional 984,157 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Apple

In related news, CEO Timothy D. Cook sold 129,963 shares of Apple stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the sale, the chief executive officer directly owned 3,280,295 shares in the company, valued at $842,412,558.95. This trade represents a 3.81% 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, SVP Deirdre O’brien sold 43,013 shares of Apple 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 sale, the senior vice president owned 136,687 shares in the company, valued at $35,181,866.93. This represents a 23.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 259,121 shares of company stock valued at $65,358,981 over the last quarter. 0.06% of the stock is owned by insiders.

Apple Price Performance

Apple stock opened at $262.77 on Wednesday. The stock has a market cap of $3.90 trillion, a P/E ratio of 39.87, a price-to-earnings-growth ratio of 2.55 and a beta of 1.09. The company has a fifty day simple moving average of $242.49 and a 200-day simple moving average of $217.74. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $265.29. 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 (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.40 EPS. Equities analysts expect that Apple Inc. will post 7.28 EPS 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 paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple’s dividend payout ratio (DPR) is currently 15.78%.

Analyst Ratings Changes

AAPL has been the subject of several research reports. Tigress Financial lifted their target price on shares of Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 17th. Wells Fargo & Company raised their price target on shares of Apple from $245.00 to $290.00 and gave the company an “overweight” rating in a research report on Tuesday. DA Davidson reissued a “neutral” rating and issued a $250.00 price target on shares of Apple in a research report on Thursday, September 11th. Rosenblatt Securities raised their price target on shares of Apple from $223.00 to $241.00 and gave the company a “neutral” rating in a research report on Wednesday, September 10th. Finally, Monness Crespi & Hardt raised their price target on shares of Apple from $245.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average price target of $252.47.

Apple 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.