IMZ Advisory Inc Has $3.58 Million Holdings in Apple Inc. $AAPL

IMZ Advisory Inc lessened its stake in Apple Inc. (NASDAQ:AAPL) by 2.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,938 shares of the iPhone maker’s stock after selling 353 shares during the quarter. Apple accounts for about 1.4% of IMZ Advisory Inc’s investment portfolio, making the stock its 14th biggest holding. IMZ Advisory Inc’s holdings in Apple were worth $3,577,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Ryan Investment Management Inc. bought a new stake in shares of Apple in the second quarter worth $31,000. ROSS JOHNSON & Associates LLC lifted its position in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares in the last quarter. Elite Financial Inc. bought a new stake in shares of Apple in the first quarter worth $58,000. LSV Asset Management bought a new stake in shares of Apple in the fourth quarter worth $65,000. Finally, HFM Investment Advisors LLC bought a new stake in shares of Apple in the first quarter worth $99,000. Institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. CLSA raised shares of Apple to a “strong-buy” rating in a research report on Sunday, October 5th. Tigress Financial upped their price target on shares of Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 17th. Melius upped their price target on shares of Apple from $290.00 to $345.00 and gave the stock a “buy” rating in a research report on Friday. Loop Capital raised shares of Apple from a “hold” rating to a “buy” rating and upped their price target for the stock from $226.00 to $315.00 in a research report on Monday, October 20th. Finally, Wedbush reaffirmed an “outperform” rating on shares of Apple in a research report on Tuesday, October 21st. Three analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $276.39.

Apple Price Performance

NASDAQ:AAPL opened at $270.37 on Friday. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $277.32. The firm has a market cap of $4.01 trillion, a price-to-earnings ratio of 41.03, a P/E/G ratio of 2.62 and a beta of 1.09. The firm’s 50-day simple moving average is $248.34 and its 200 day simple moving average is $222.15. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $102.47 billion for the quarter, compared to analyst estimates of $101.65 billion. During the same period last year, the firm earned $1.64 earnings per share. Apple’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Monday, November 10th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, November 10th. Apple’s dividend payout ratio (DPR) is currently 15.78%.

Insider Buying and Selling at Apple

In related news, CEO Timothy D. Cook sold 129,963 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 3,280,295 shares of the company’s stock, valued at approximately $842,412,558.95. This trade represents a 3.81% decrease in their ownership of the stock. The transaction 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 the firm’s stock in a transaction dated 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 transaction, the senior vice president directly 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 259,121 shares of company stock valued at $65,358,981 in the last three months. 0.06% of the stock is owned by insiders.

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.