Financial Advisors LLC Lowers Stock Position in Apple Inc. $AAPL

Financial Advisors LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,346 shares of the iPhone maker’s stock after selling 959 shares during the period. Apple makes up 1.0% of Financial Advisors LLC’s holdings, making the stock its 11th biggest holding. Financial Advisors LLC’s holdings in Apple were worth $5,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in AAPL. Ryan Investment Management Inc. acquired a new position in Apple during the second quarter worth $31,000. ROSS JOHNSON & Associates LLC raised its holdings in shares of Apple by 1,800.0% in the 1st 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 period. Nexus Investment Management ULC lifted its stake in Apple by 333.3% during the 2nd quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock worth $53,000 after acquiring an additional 200 shares in the last quarter. LSV Asset Management acquired a new position in Apple during the 4th quarter worth about $65,000. Finally, Elite Financial Inc. purchased a new position in Apple during the 1st quarter valued at about $58,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Price Performance

Shares of AAPL opened at $267.44 on Wednesday. The firm has a market capitalization of $3.95 trillion, a price-to-earnings ratio of 40.58, a PEG ratio of 2.62 and a beta of 1.09. The firm’s fifty day simple moving average is $257.18 and its 200-day simple moving average is $227.87. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $277.32. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

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

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 10th were issued a $0.26 dividend. The ex-dividend date was 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 is presently 13.92%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AAPL. HSBC set a $220.00 price target on shares of Apple and gave the stock a “hold” rating in a research note on Monday, September 8th. BMO Capital Markets reaffirmed a “buy” rating on shares of Apple in a research note on Wednesday, August 13th. CLSA raised shares of Apple to a “strong-buy” rating in a research report on Sunday, October 5th. DZ Bank upgraded shares of Apple from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a research note on Tuesday, November 4th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Apple in a research note on Thursday, November 13th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $278.22.

Insider Buying and Selling at Apple

In related news, CFO Kevan Parekh sold 4,199 shares of the business’s stock in a transaction that occurred on Thursday, October 16th. The stock was 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 owned 8,765 shares in the company, valued at $2,168,373.35. The trade was 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 the SEC website. Also, CEO Timothy D. Cook sold 129,963 shares of the company’s stock in a transaction that occurred 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 directly owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. This trade represents a 3.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 228,052 shares of company stock worth $58,604,588. 0.06% of the stock is currently owned by corporate insiders.

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.