Allegiance Financial Group Advisory Services LLC Has $2.97 Million Stake in Apple Inc. $AAPL

Allegiance Financial Group Advisory Services LLC raised its position in Apple Inc. (NASDAQ:AAPL) by 2.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,494 shares of the iPhone maker’s stock after purchasing an additional 286 shares during the quarter. Apple accounts for approximately 0.8% of Allegiance Financial Group Advisory Services LLC’s holdings, making the stock its 20th largest holding. Allegiance Financial Group Advisory Services LLC’s holdings in Apple were worth $2,974,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AAPL. Avid Wealth Partners LLC grew its holdings in shares of Apple by 28.3% in the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock valued at $935,000 after acquiring an additional 930 shares in the last quarter. Bell & Brown Wealth Advisors LLC boosted its holdings in shares of Apple by 0.4% in the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock valued at $13,772,000 after buying an additional 240 shares during the last quarter. American National Bank & Trust boosted its holdings in shares of Apple by 2.4% in the 2nd quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock valued at $40,107,000 after buying an additional 4,543 shares during the last quarter. Andina Capital Management LLC boosted its holdings in shares of Apple by 209.2% in the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock valued at $1,507,000 after buying an additional 4,591 shares during the last quarter. Finally, Plum Street Advisors LLC boosted its holdings in shares of Apple by 4.0% in the 1st quarter. Plum Street Advisors LLC now owns 7,889 shares of the iPhone maker’s stock valued at $1,752,000 after buying an additional 301 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Down 0.4%

AAPL stock opened at $270.37 on Monday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a market capitalization of $4.01 trillion, a price-to-earnings ratio of 41.03, a PEG ratio of 2.62 and a beta of 1.09. The business’s fifty day moving average price is $248.34 and its two-hundred day moving average price is $222.34. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $277.32.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.11. The business had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.64 earnings per share. On average, equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Monday, November 10th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, November 10th. Apple’s payout ratio is currently 13.92%.

Insiders Place Their Bets

In other news, CFO Kevan Parekh sold 4,199 shares of the 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 completion of the transaction, the chief financial officer directly owned 8,765 shares in the company, valued at approximately $2,168,373.35. This represents a 32.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the transaction, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 259,121 shares of company stock worth $65,358,981. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the subject of several recent analyst reports. Monness Crespi & Hardt increased their price objective on Apple from $270.00 to $300.00 and gave the company a “buy” rating in a report on Friday. Robert W. Baird set a $300.00 price objective on Apple in a report on Friday. Phillip Securities cut Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price target for the company. in a report on Thursday, September 11th. Evercore ISI lifted their price target on Apple from $290.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Argus set a $325.00 price target on Apple and gave the stock a “buy” rating in a report on Friday. Three analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $276.39.

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.