Apple Inc. $AAPL is IVC Wealth Advisors LLC’s 2nd Largest Position

IVC Wealth Advisors LLC increased its position in Apple Inc. (NASDAQ:AAPL) by 0.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 59,834 shares of the iPhone maker’s stock after acquiring an additional 154 shares during the period. Apple comprises approximately 6.0% of IVC Wealth Advisors LLC’s holdings, making the stock its 2nd largest position. IVC Wealth Advisors LLC’s holdings in Apple were worth $12,276,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in AAPL. First National Bank of Hutchinson raised its holdings in Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after acquiring an additional 6,982 shares during the last quarter. Eagle Capital Management LLC raised its holdings in Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after acquiring an additional 272 shares during the last quarter. Brighton Jones LLC raised its holdings in Apple by 14.8% in the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after acquiring an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC grew its position in Apple by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after purchasing an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE raised its stake in Apple by 2.4% during the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock valued at $12,587,000 after buying an additional 1,155 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Apple news, SVP Deirdre O’brien sold 43,013 shares of the stock in a transaction dated 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 owned 136,687 shares of the company’s stock, valued at $35,181,866.93. This represents a 23.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the transaction, the senior vice president directly owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This trade represents a 20.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 259,121 shares of company stock worth $65,358,981. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on AAPL. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a research note on Friday, July 25th. Evercore ISI reiterated an “outperform” rating on shares of Apple in a research note on Monday, October 20th. Jefferies Financial Group lowered shares of Apple from a “moderate sell” rating to a “strong sell” rating in a research note on Monday, October 20th. JPMorgan Chase & Co. boosted their target price on shares of Apple from $280.00 to $290.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Seaport Res Ptn upgraded shares of Apple to a “strong-buy” rating in a research note on Wednesday, October 1st. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $252.83.

Apple Trading Up 2.3%

Shares of Apple stock opened at $268.81 on Tuesday. The company has a market capitalization of $3.99 trillion, a P/E ratio of 40.79, a P/E/G ratio of 2.56 and a beta of 1.09. 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 company has a fifty day moving average of $244.91 and a 200 day moving average of $220.14. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $269.12.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.14. The company had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. Apple’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.40 EPS. On average, sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

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

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.