Sound Income Strategies LLC Boosts Stake in Apple Inc. (NASDAQ:AAPL)

Sound Income Strategies LLC grew its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 13.9% in the second quarter, Holdings Channel reports. The fund owned 46,480 shares of the iPhone maker’s stock after acquiring an additional 5,679 shares during the quarter. Sound Income Strategies LLC’s holdings in Apple were worth $6,355,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Flaharty Asset Management LLC grew its position in shares of Apple by 0.6% during the 2nd quarter. Flaharty Asset Management LLC now owns 18,403 shares of the iPhone maker’s stock valued at $2,516,000 after acquiring an additional 108 shares during the period. Symmetry Partners LLC boosted its holdings in Apple by 25.6% in the 2nd quarter. Symmetry Partners LLC now owns 179,319 shares of the iPhone maker’s stock worth $24,516,000 after buying an additional 36,512 shares during the period. Radnor Capital Management LLC boosted its holdings in Apple by 6.7% in the 2nd quarter. Radnor Capital Management LLC now owns 57,054 shares of the iPhone maker’s stock worth $7,800,000 after buying an additional 3,568 shares during the period. RBA Wealth Management LLC boosted its holdings in Apple by 2.7% in the 2nd quarter. RBA Wealth Management LLC now owns 44,786 shares of the iPhone maker’s stock worth $6,123,000 after buying an additional 1,166 shares during the period. Finally, McNaughton Wealth Management LLC boosted its holdings in Apple by 30.2% in the 2nd quarter. McNaughton Wealth Management LLC now owns 5,728 shares of the iPhone maker’s stock worth $783,000 after buying an additional 1,328 shares during the period. 57.72% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the sale, the senior vice president now owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the sale, the senior vice president now owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $19,362,241.35. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of Apple stock opened at $153.72 on Thursday. The firm has a market cap of $2.47 trillion, a PE ratio of 25.37, a price-to-earnings-growth ratio of 2.00 and a beta of 1.23. Apple Inc. has a 12-month low of $129.04 and a 12-month high of $182.94. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63. The company’s fifty day simple moving average is $160.23 and its two-hundred day simple moving average is $155.88.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The business had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The company’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.30 EPS. As a group, equities analysts expect that Apple Inc. will post 6.11 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date was Friday, August 5th. Apple’s payout ratio is 15.18%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Itau BBA Securities assumed coverage on shares of Apple in a report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price objective for the company. Loop Capital cut their price objective on shares of Apple from $210.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, May 25th. Barclays set a $169.00 price objective on shares of Apple in a report on Wednesday, September 14th. Wedbush increased their target price on shares of Apple from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 17th. Finally, UBS Group set a $185.00 target price on shares of Apple in a research note on Wednesday, September 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $181.68.

Apple Profile

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Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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