Coordinated Financial Services Inc. Acquires New Stake in Apple Inc. $AAPL

Coordinated Financial Services Inc. acquired a new stake in Apple Inc. (NASDAQ:AAPL) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,700 shares of the iPhone maker’s stock, valued at approximately $554,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Ryan Investment Management Inc. acquired a new stake in shares of Apple in the second quarter valued at about $31,000. ROSS JOHNSON & Associates LLC raised 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 valued at $42,000 after buying an additional 180 shares during the last quarter. Elite Financial Inc. acquired a new stake in shares of Apple in the first quarter valued at about $58,000. LSV Asset Management acquired a new stake in shares of Apple in the fourth quarter valued at about $65,000. Finally, HFM Investment Advisors LLC acquired a new stake in shares of Apple in the first quarter valued at about $99,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

Shares of AAPL opened at $270.04 on Wednesday. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $277.32. The stock has a market cap of $4.01 trillion, a PE ratio of 40.98, a P/E/G ratio of 2.62 and a beta of 1.09. The firm has a 50-day simple moving average of $249.99 and a two-hundred day simple moving average of $223.37. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $101.65 billion. During the same period last year, the business earned $1.64 earnings per share. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AAPL shares. DA Davidson increased their target price on shares of Apple from $250.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Sanford C. Bernstein set a $325.00 target price on shares of Apple in a research report on Monday. Wells Fargo & Company set a $300.00 target price on shares of Apple and gave the company an “overweight” rating in a research report on Friday. Jefferies Financial Group upgraded shares of Apple from an “underperform” rating to a “hold” rating and raised their price objective for the stock from $203.07 to $246.99 in a research report on Friday, October 31st. Finally, Raymond James Financial restated an “outperform” rating and set a $240.00 price objective (up from $230.00) on shares of Apple in a research report on Friday, August 1st. Three analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $278.22.

Insider Activity at Apple

In other Apple news, CFO Kevan Parekh sold 4,199 shares of Apple stock in a transaction dated 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 completion of the sale, the chief financial officer directly owned 8,765 shares in the company, valued at $2,168,373.35. This trade represents a 32.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Deirdre O’brien sold 43,013 shares of Apple 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 sale, the senior vice president owned 136,687 shares of the company’s stock, 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 have sold 259,121 shares of company stock valued at $65,358,981 in the last ninety days. Insiders own 0.06% of the company’s stock.

Apple Company 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.