First Horizon Advisors Inc. Has $64.82 Million Holdings in Apple Inc. $AAPL

First Horizon Advisors Inc. reduced its position in Apple Inc. (NASDAQ:AAPL) by 2.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 315,951 shares of the iPhone maker’s stock after selling 9,028 shares during the quarter. Apple accounts for about 1.7% of First Horizon Advisors Inc.’s holdings, making the stock its 6th largest holding. First Horizon Advisors Inc.’s holdings in Apple were worth $64,824,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Ryan Investment Management Inc. purchased a new stake in shares of Apple in the 2nd quarter valued at $31,000. ROSS JOHNSON & Associates LLC lifted its stake in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares during the last quarter. Nexus Investment Management ULC boosted its position in Apple by 333.3% during the second quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock valued at $53,000 after buying an additional 200 shares during the period. Elite Financial Inc. bought a new position in shares of Apple during the first quarter valued at about $58,000. Finally, LSV Asset Management purchased a new position in shares of Apple in the fourth quarter worth about $65,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Robert W. Baird set a $300.00 target price on Apple in a research note on Friday, October 31st. DA Davidson increased their price objective on Apple from $250.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Monness Crespi & Hardt raised their target price on shares of Apple from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Wells Fargo & Company set a $300.00 price target on shares of Apple and gave the company an “overweight” rating in a report on Friday, October 31st. Finally, Bank of America increased their price target on shares of Apple from $270.00 to $320.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average price target of $278.53.

Insiders Place Their Bets

In other Apple news, CEO Timothy D. Cook sold 129,963 shares of Apple stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the sale, the chief executive officer directly owned 3,280,295 shares of the company’s stock, valued at approximately $842,412,558.95. The trade was a 3.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Deirdre O’brien sold 43,013 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the transaction, the senior vice president owned 136,687 shares in the company, valued at $35,181,866.93. This trade represents a 23.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 228,052 shares of company stock valued at $58,604,588 over the last ninety days. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

Shares of AAPL stock opened at $284.15 on Thursday. The firm has a market capitalization of $4.20 trillion, a price-to-earnings ratio of 38.04, a PEG ratio of 2.64 and a beta of 1.10. The stock has a fifty day moving average of $265.09 and a 200 day moving average of $233.25. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $288.62. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 1.06.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, topping the consensus estimate of $1.74 by $0.11. Apple had a net margin of 26.92% and a return on equity of 164.05%. 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 earned $1.64 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, November 10th were 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 was Monday, November 10th. Apple’s dividend payout ratio is presently 13.92%.

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.