Global Assets Advisory LLC Has $13.14 Million Stock Holdings in Apple Inc. $AAPL

Global Assets Advisory LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 44.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 63,225 shares of the iPhone maker’s stock after selling 49,965 shares during the period. Apple comprises 5.1% of Global Assets Advisory LLC’s portfolio, making the stock its 2nd biggest holding. Global Assets Advisory LLC’s holdings in Apple were worth $13,139,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Salus Financial Advisors LLC lifted its stake in shares of Apple by 3.9% in the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock valued at $291,000 after buying an additional 49 shares during the period. SigFig Wealth Management LLC lifted its stake in shares of Apple by 2.8% in the second quarter. SigFig Wealth Management LLC now owns 1,830 shares of the iPhone maker’s stock valued at $368,000 after buying an additional 50 shares during the period. Sharpepoint LLC lifted its stake in shares of Apple by 3.5% in the first quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker’s stock valued at $322,000 after buying an additional 51 shares during the period. Mission Hills Financial Advisory LLC lifted its stake in shares of Apple by 1.3% in the first quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker’s stock valued at $892,000 after buying an additional 53 shares during the period. Finally, Virginia Wealth Management Group Inc. lifted its stake in shares of Apple by 0.3% in the second quarter. Virginia Wealth Management Group Inc. now owns 20,946 shares of the iPhone maker’s stock valued at $4,298,000 after buying an additional 53 shares during the period. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

NASDAQ AAPL opened at $268.81 on Tuesday. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $269.12. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The company has a 50 day moving average of $244.91 and a 200-day moving average of $220.14. The firm has a market cap of $3.99 trillion, a price-to-earnings ratio of 40.79, a PEG ratio of 2.56 and a beta of 1.09.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion for the quarter, compared to analysts’ expectations of $88.64 billion. During the same period in the prior year, the firm earned $1.40 earnings per share. Apple’s revenue was up 9.6% compared to the same quarter last year. On average, equities analysts forecast 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. Stockholders of record on Monday, August 11th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s dividend payout ratio is 15.78%.

Insider Activity at Apple

In other news, CFO Kevan Parekh sold 4,199 shares of the stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the sale, the chief financial officer directly owned 8,765 shares of the company’s stock, valued at $2,168,373.35. This represents a 32.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction that occurred on 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 sale, the senior vice president directly owned 179,158 shares in the company, valued at $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 259,121 shares of company stock valued at $65,358,981 over the last three months. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AAPL. CLSA upgraded shares of Apple to a “strong-buy” rating in a research note on Sunday, October 5th. 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. Wedbush reissued an “outperform” rating on shares of Apple in a research report on Tuesday, October 21st. Citigroup reissued a “buy” rating on shares of Apple in a research report on Wednesday, September 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Apple in a research report on Friday, July 25th. Four analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $252.83.

About Apple

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.