Independent Advisor Alliance Has $138.40 Million Position in Apple Inc. (NASDAQ:AAPL)

Independent Advisor Alliance lowered its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 1.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,012,308 shares of the iPhone maker’s stock after selling 11,816 shares during the quarter. Apple accounts for about 7.7% of Independent Advisor Alliance’s portfolio, making the stock its largest position. Independent Advisor Alliance’s holdings in Apple were worth $138,403,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Spence Asset Management bought a new position in Apple during the second quarter valued at $49,000. HBC Financial Services PLLC lifted 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 worth $49,000 after acquiring an additional 80 shares during the last quarter. Emerson Wealth LLC lifted its holdings in shares of Apple by 27.0% in the 2nd quarter. Emerson Wealth LLC now owns 518 shares of the iPhone maker’s stock worth $71,000 after acquiring an additional 110 shares during the last quarter. Darrow Company Inc. bought a new stake in shares of Apple in the 2nd quarter worth about $107,000. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Apple in the 1st quarter worth about $171,000. Institutional investors own 57.72% of the company’s stock.

Apple Stock Up 0.6 %

Shares of Apple stock opened at $151.07 on Friday. The firm’s 50 day moving average price is $146.62 and its 200-day moving average price is $149.67. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.95. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94. The company has a market cap of $2.40 trillion, a P/E ratio of 24.73, a PEG ratio of 1.92 and a beta of 1.25.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings data 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. Apple had a net margin of 25.31% and a return on equity of 160.90%. The firm had revenue of $90.15 billion for the quarter, compared to the consensus estimate of $88.77 billion. During the same quarter in the previous year, the firm earned $1.24 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts predict that Apple Inc. will post 6.26 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were paid a $0.23 dividend. 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

In related news, insider Chris Kondo sold 20,200 shares of Apple stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total value of $3,004,144.00. Following the completion of the sale, the insider now directly owns 31,505 shares in the company, valued at approximately $4,685,423.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Chris Kondo sold 20,200 shares of Apple stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total value of $3,004,144.00. Following the completion of the sale, the insider now directly owns 31,505 shares in the company, valued at approximately $4,685,423.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Luca Maestri sold 176,299 shares of Apple 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 sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $17,259,454.35. The disclosure for this sale can be found here. Insiders sold 380,851 shares of company stock worth $56,707,789 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Citigroup restated a “buy” rating and issued a $175.00 target price on shares of Apple in a report on Tuesday, November 8th. Needham & Company LLC restated a “buy” rating and issued a $170.00 target price on shares of Apple in a report on Tuesday, November 8th. Barclays lowered their target price on shares of Apple from $156.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, November 7th. set a $175.00 target price on shares of Apple in a report on Friday, July 29th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $175.00 price target on shares of Apple in a research note on Tuesday, November 8th. Two 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $176.26.

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

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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