Farnam Financial LLC Buys 2,775 Shares of Apple Inc. $AAPL

Farnam Financial LLC boosted its stake in Apple Inc. (NASDAQ:AAPL) by 24.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 14,240 shares of the iPhone maker’s stock after buying an additional 2,775 shares during the period. Apple makes up 2.6% of Farnam Financial LLC’s portfolio, making the stock its 13th largest holding. Farnam Financial LLC’s holdings in Apple were worth $2,922,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Financial Futures Ltd Liability Co. increased its holdings in Apple by 13.2% in the 2nd quarter. Financial Futures Ltd Liability Co. now owns 3,552 shares of the iPhone maker’s stock worth $729,000 after purchasing an additional 415 shares in the last quarter. Bell & Brown Wealth Advisors LLC boosted its stake in shares of Apple by 0.4% during the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock valued at $13,772,000 after purchasing an additional 240 shares in the last quarter. American National Bank & Trust grew its holdings in shares of Apple by 2.4% during the second quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock worth $40,107,000 after purchasing an additional 4,543 shares during the last quarter. Riverwater Partners LLC increased its stake in shares of Apple by 17.9% in the second quarter. Riverwater Partners LLC now owns 5,404 shares of the iPhone maker’s stock valued at $1,109,000 after buying an additional 819 shares during the period. Finally, Andina Capital Management LLC increased its stake in shares of Apple by 209.2% in the first quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock valued at $1,507,000 after buying an additional 4,591 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 47,125 shares of the 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 represents a 20.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 129,963 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 228,052 shares of company stock worth $58,604,588 over the last ninety days. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

AAPL stock opened at $278.78 on Thursday. The firm has a market cap of $4.12 trillion, a PE ratio of 37.32, a price-to-earnings-growth ratio of 2.59 and a beta of 1.10. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 1.06. The stock has a 50-day moving average price of $267.42 and a 200-day moving average price of $235.90. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $288.62.

Apple (NASDAQ:AAPL) last announced 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 164.05% and a net margin of 26.92%.The company 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 earned $1.64 EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on AAPL. Barclays lifted their target price on shares of Apple from $180.00 to $230.00 and gave the stock an “underweight” rating in a research report on Friday, October 31st. Moffett Nathanson raised shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 price target for the company in a research note on Thursday, September 4th. Jefferies Financial Group upgraded shares of Apple from an “underperform” rating to a “hold” rating and lifted their price target for the stock from $203.07 to $246.99 in a report on Friday, October 31st. Monness Crespi & Hardt boosted their price objective on shares of Apple from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Rosenblatt Securities raised their target price on Apple from $241.00 to $250.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $282.51.

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.