Apple Inc. (NASDAQ:AAPL) is Benedict Financial Advisors Inc.’s Largest Position

Benedict Financial Advisors Inc. lessened its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 2.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 111,161 shares of the iPhone maker’s stock after selling 2,916 shares during the quarter. Apple makes up about 4.5% of Benedict Financial Advisors Inc.’s investment portfolio, making the stock its biggest position. Benedict Financial Advisors Inc.’s holdings in Apple were worth $15,198,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. CFS Investment Advisory Services LLC increased its holdings in shares of Apple by 18,263.5% in the 1st quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock valued at $47,000 after acquiring an additional 7,416,445 shares during the period. Spence Asset Management acquired a new position in shares of Apple in the 2nd quarter valued at $49,000. HBC Financial Services PLLC increased its holdings in shares of Apple by 21.7% in the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after acquiring an additional 80 shares during the period. Emerson Wealth LLC increased its holdings in shares of Apple by 363.6% in the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after acquiring an additional 320 shares during the period. Finally, Econ Financial Services Corp increased its holdings in shares of Apple by 29.1% in the 1st quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock valued at $74,000 after acquiring an additional 95 shares during the period. Hedge funds and other institutional investors own 57.72% of the company’s stock.

Apple Trading Down 0.4 %

NASDAQ AAPL opened at $138.38 on Monday. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The company has a 50-day moving average of $149.29 and a 200-day moving average of $150.83. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85. The company has a market cap of $2.20 trillion, a P/E ratio of 22.65, a P/E/G ratio of 1.75 and a beta of 1.25.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.02. Apple had a net margin of 25.31% and a return on equity of 160.90%. The company had revenue of $90.15 billion during the quarter, compared to the consensus estimate of $88.77 billion. During the same quarter in the prior year, the company posted $1.24 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts predict that Apple Inc. will post 6.34 earnings per share for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Monday, November 7th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Friday, November 4th. Apple’s dividend payout ratio is currently 15.06%.

Insider Buying and Selling

In related news, CFO Luca Maestri sold 176,299 shares of the stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the completion of the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $17,259,454.35. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Apple news, SVP Deirdre O’brien sold 8,053 shares of the stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $142.45, for a total value of $1,147,149.85. Following the completion of the sale, the senior vice president now owns 136,290 shares of the company’s stock, valued at $19,414,510.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Luca Maestri sold 176,299 shares of the stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the completion of the sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $17,259,454.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 457,386 shares of company stock valued at $70,627,433. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Morgan Stanley cut their target price on shares of Apple from $180.00 to $177.00 and set an “overweight” rating on the stock in a report on Monday, October 17th. The Goldman Sachs Group reissued a “neutral” rating and issued a $139.00 price objective on shares of Apple in a research note on Thursday, September 8th. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research note on Saturday. Monness Crespi & Hardt initiated coverage on shares of Apple in a research note on Thursday, September 8th. They issued a “buy” rating and a $174.00 price objective on the stock. Finally, Ita├║ Unibanco initiated coverage on shares of Apple in a research note on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $177.56.

Apple Company Profile

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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