Apple Inc. (NASDAQ:AAPL) Stock Position Increased by Advisory Services Network LLC

Advisory Services Network LLC boosted its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 2.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 727,323 shares of the iPhone maker’s stock after purchasing an additional 20,730 shares during the quarter. Apple comprises approximately 3.4% of Advisory Services Network LLC’s holdings, making the stock its largest holding. Advisory Services Network LLC’s holdings in Apple were worth $99,438,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of AAPL. Spence Asset Management bought a new stake in shares of Apple in the 2nd quarter worth about $49,000. Emerson Wealth LLC grew its stake in shares of Apple by 363.6% during the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after purchasing an additional 320 shares during the period. Econ Financial Services Corp grew its stake in shares of Apple by 29.1% during the 1st quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock worth $74,000 after purchasing an additional 95 shares during the period. HBC Financial Services PLLC grew its stake in shares of Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares during the period. Finally, Darrow Company Inc. acquired a new position in shares of Apple during the 2nd quarter worth $107,000. Hedge funds and other institutional investors own 57.72% of the company’s stock.

Apple Stock Up 0.4 %

AAPL opened at $151.29 on Friday. The firm has a 50 day moving average price of $147.08 and a 200 day moving average price of $149.95. The company has a market cap of $2.41 trillion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 1.90 and a beta of 1.25. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.85 and a current ratio of 0.88.

Apple (NASDAQ:AAPLGet Rating) last posted its earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.02. The firm had revenue of $90.15 billion during the quarter, compared to the consensus estimate of $88.77 billion. Apple had a net margin of 25.31% and a return on equity of 160.90%. The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 EPS. Sell-side analysts expect that Apple Inc. will post 6.26 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend was Friday, November 4th. Apple’s dividend payout ratio (DPR) is presently 15.06%.

Insider Buying and Selling at Apple

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. In other Apple 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 value 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 $17,259,454.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $1,147,149.85. Following the completion of the sale, the senior vice president now directly owns 136,290 shares of the company’s stock, valued at approximately $19,414,510.50. The disclosure for this sale can be found here. Insiders sold 360,651 shares of company stock valued at $53,703,645 over the last 90 days. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AAPL. Fundamental Research upped their price target on shares of Apple to $168.50 and gave the stock a “buy” rating in a research note on Tuesday, November 8th. Sanford C. Bernstein set a $170.00 price objective on shares of Apple in a research note on Monday, September 12th. JPMorgan Chase & Co. set a $200.00 price objective on shares of Apple in a research note on Monday, November 14th. Itau BBA Securities assumed 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. Finally, Citigroup reissued a “buy” rating and issued a $175.00 price objective on shares of Apple in a research note on Tuesday, November 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $176.26.

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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