FLC Capital Advisors Decreases Stock Position in Apple Inc. $AAPL

FLC Capital Advisors decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 2.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 78,709 shares of the iPhone maker’s stock after selling 1,782 shares during the quarter. Apple makes up about 3.3% of FLC Capital Advisors’ investment portfolio, making the stock its 6th largest position. FLC Capital Advisors’ holdings in Apple were worth $16,149,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of AAPL. Baker Boyer National Bank lifted its position in Apple by 0.3% during the 2nd quarter. Baker Boyer National Bank now owns 18,011 shares of the iPhone maker’s stock worth $3,695,000 after buying an additional 47 shares in the last quarter. Salus Financial Advisors LLC raised its stake in shares of Apple by 3.9% in the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock worth $291,000 after acquiring an additional 49 shares during the last quarter. Red Tortoise LLC raised its stake in shares of Apple by 0.9% in the second quarter. Red Tortoise LLC now owns 5,717 shares of the iPhone maker’s stock worth $1,173,000 after acquiring an additional 49 shares during the last quarter. SigFig Wealth Management LLC lifted its position in shares of Apple by 2.8% during the second quarter. SigFig Wealth Management LLC now owns 1,830 shares of the iPhone maker’s stock worth $368,000 after purchasing an additional 50 shares in the last quarter. Finally, Shariaportfolio Inc. lifted its position in shares of Apple by 1.3% during the second quarter. Shariaportfolio Inc. now owns 3,999 shares of the iPhone maker’s stock worth $820,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of research reports. Needham & Company LLC reissued a “hold” rating on shares of Apple in a report on Friday, July 25th. JPMorgan Chase & Co. increased their price objective on Apple from $290.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Morgan Stanley lifted their target price on Apple from $298.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Moffett Nathanson upgraded Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price for the company in a research report on Thursday, September 4th. Finally, Argus set a $325.00 price target on Apple and gave the company a “buy” rating in a report on Friday, October 31st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $278.22.

Apple Trading Down 0.0%

NASDAQ:AAPL opened at $267.44 on Wednesday. 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 Inc. has a 1-year low of $169.21 and a 1-year high of $277.32. 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 business’s 50-day moving average price is $257.18 and its two-hundred day moving average price is $227.87.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. The company 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%.Apple’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.64 EPS. On average, equities analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 10th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, November 10th. Apple’s dividend payout ratio is presently 13.92%.

Insider Buying and Selling

In other news, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the transaction, the senior vice president directly owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kevan Parekh sold 4,199 shares of the company’s stock in a transaction on 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 owned 8,765 shares of the company’s stock, valued at approximately $2,168,373.35. This represents a 32.39% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 228,052 shares of company stock valued at $58,604,588. 0.06% of the stock is owned by company insiders.

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.