Alpha Financial Partners LLC Acquires 519 Shares of Apple Inc. $AAPL

Alpha Financial Partners LLC lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 9.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,110 shares of the iPhone maker’s stock after purchasing an additional 519 shares during the period. Apple comprises approximately 0.9% of Alpha Financial Partners LLC’s investment portfolio, making the stock its 19th largest holding. Alpha Financial Partners LLC’s holdings in Apple were worth $1,254,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. First National Bank of Hutchinson increased its stake in shares of Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after purchasing an additional 6,982 shares in the last quarter. Eagle Capital Management LLC raised its holdings in Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after acquiring an additional 272 shares during the period. Brighton Jones LLC lifted its position in shares of Apple by 14.8% during the fourth 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 in the last quarter. Revolve Wealth Partners LLC grew its position in shares of Apple by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock valued at $16,742,000 after purchasing an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE raised its stake in shares of 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 purchasing an additional 1,155 shares during the period. Institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Bank of America increased their price target on shares of Apple from $270.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Cowen reiterated a “buy” rating on shares of Apple in a research report on Monday, October 27th. Weiss Ratings raised Apple from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Wall Street Zen lowered Apple from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, HSBC set a $220.00 price target on Apple and gave the company a “hold” rating in a research report on Monday, September 8th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $278.22.

Insider Buying and Selling

In other news, CFO Kevan Parekh sold 4,199 shares of the 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 approximately $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 SEC, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 47,125 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the sale, the senior vice president directly owned 179,158 shares in the company, valued at $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 224,300 shares of company stock worth $57,586,933. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of Apple stock opened at $268.47 on Friday. 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 Inc. has a 52-week low of $169.21 and a 52-week high of $277.32. The company has a fifty day moving average of $252.25 and a 200-day moving average of $224.71. The stock has a market capitalization of $3.97 trillion, a price-to-earnings ratio of 40.74, a price-to-earnings-growth ratio of 2.62 and a beta of 1.09.

Apple (NASDAQ:AAPL) last posted 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. 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 analyst estimates of $101.65 billion. During the same period in the prior year, the business posted $1.64 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. Equities research analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

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 paid a $0.26 dividend. 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 payout ratio is 13.92%.

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.