IFG Advisory LLC Reduces Stock Holdings in Apple Inc. (NASDAQ:AAPL)

IFG Advisory LLC lowered its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 9.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 140,251 shares of the iPhone maker’s stock after selling 15,286 shares during the period. Apple accounts for approximately 2.0% of IFG Advisory LLC’s portfolio, making the stock its 10th biggest holding. IFG Advisory LLC’s holdings in Apple were worth $19,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. IFM Investors Pty Ltd lifted its stake in shares of Apple by 20.0% in the first quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock worth $456,728,000 after buying an additional 435,891 shares in the last quarter. Ironwood Wealth Management LLC. lifted its stake in shares of Apple by 0.4% in the first quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock worth $42,016,000 after buying an additional 1,040 shares in the last quarter. Cherrydale Wealth Management LLC lifted its position in Apple by 1.6% during the first quarter. Cherrydale Wealth Management LLC now owns 33,195 shares of the iPhone maker’s stock valued at $5,796,000 after purchasing an additional 530 shares during the period. WestEnd Advisors LLC lifted its position in Apple by 45.6% during the first quarter. WestEnd Advisors LLC now owns 255,822 shares of the iPhone maker’s stock valued at $44,669,000 after purchasing an additional 80,129 shares during the period. Finally, Activest Wealth Management lifted its position in Apple by 22.6% during the first quarter. Activest Wealth Management now owns 20,429 shares of the iPhone maker’s stock valued at $3,567,000 after purchasing an additional 3,765 shares during the period. Institutional investors own 57.72% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Apple from $175.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, October 28th. Monness Crespi & Hardt assumed coverage on shares of Apple in a research report on Thursday, September 8th. They set a “buy” rating and a $174.00 price objective on the stock. Evercore ISI increased their price objective on shares of Apple from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Tuesday, September 20th. Sanford C. Bernstein set a $170.00 price objective on shares of Apple in a research report on Monday, September 12th. Finally, StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a research report on Saturday, November 5th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $176.26.

Apple Stock Performance

AAPL opened at $151.07 on Friday. The stock has a market capitalization of $2.40 trillion, a price-to-earnings ratio of 24.73, a PEG ratio of 1.92 and a beta of 1.25. The company has a fifty day moving average of $146.62 and a 200 day moving average of $149.67. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week 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 released its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 EPS for the quarter, beating the consensus estimate of $1.27 by $0.02. Apple had a net margin of 25.31% and a return on equity of 160.90%. The business had revenue of $90.15 billion during the quarter, compared to analyst estimates of $88.77 billion. During the same quarter last year, the business earned $1.24 earnings per share. Apple’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Apple Inc. will post 6.26 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, November 4th. This represents a $0.92 annualized dividend and a yield of 0.61%. Apple’s dividend payout ratio (DPR) is currently 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 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 transaction, the senior vice president now owns 136,290 shares in the company, valued at $19,414,510.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Apple news, SVP Deirdre O’brien sold 8,053 shares of the stock in a transaction 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 transaction, the senior vice president now owns 136,290 shares in the company, valued at $19,414,510.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 20,200 shares of the firm’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the completion of the sale, the insider now owns 31,505 shares of the company’s stock, valued at approximately $4,685,423.60. The disclosure for this sale can be found here. Insiders sold 380,851 shares of company stock worth $56,707,789 over the last 90 days. 0.06% of the stock is owned by insiders.

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; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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