Walkner Condon Financial Advisors LLC increased its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 8.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,379 shares of the iPhone maker’s stock after buying an additional 3,734 shares during the period. Apple accounts for approximately 2.1% of Walkner Condon Financial Advisors LLC’s portfolio, making the stock its 12th largest holding. Walkner Condon Financial Advisors LLC’s holdings in Apple were worth $6,615,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in AAPL. EverSource Wealth Advisors LLC raised its position in Apple by 8.3% during the first quarter. EverSource Wealth Advisors LLC now owns 74,619 shares of the iPhone maker’s stock valued at $13,029,000 after purchasing an additional 5,703 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Apple during the first quarter valued at about $171,000. Emerald Advisors LLC raised its position in Apple by 2.4% during the second quarter. Emerald Advisors LLC now owns 19,905 shares of the iPhone maker’s stock valued at $2,721,000 after purchasing an additional 465 shares in the last quarter. Chico Wealth RIA bought a new position in shares of Apple during the first quarter valued at about $7,794,000. Finally, Sageworth Trust Co grew its stake in shares of Apple by 150.3% during the second quarter. Sageworth Trust Co now owns 5,798 shares of the iPhone maker’s stock valued at $793,000 after buying an additional 3,482 shares during the last quarter. Hedge funds and other institutional investors own 57.72% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on AAPL. Deutsche Bank Aktiengesellschaft reduced their price objective on Apple from $175.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, October 28th. Fundamental Research raised their price objective on Apple to $168.50 and gave the company a “buy” rating in a research note on Tuesday, November 8th. Monness Crespi & Hardt began coverage on Apple in a research note on Thursday, September 8th. They set a “buy” rating and a $174.00 price objective on the stock. set a $175.00 price objective on Apple in a research note on Friday, July 29th. Finally, Barclays cut their target price on Apple from $156.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, November 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $176.26.
Apple Price Performance
Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share 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 company had revenue of $90.15 billion during the quarter, compared to analyst estimates of $88.77 billion. During the same period in the previous year, the business earned $1.24 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, research analysts expect that Apple Inc. will post 6.26 EPS for the current fiscal year.
Apple Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were issued a $0.23 dividend. The ex-dividend date was Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. Apple’s payout ratio is currently 15.06%.
Insider Buying and Selling
In related news, CFO Luca Maestri sold 176,299 shares of the business’s 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 transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $17,259,454.35. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Apple news, CFO Luca Maestri sold 176,299 shares of the business’s stock in a transaction 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 in the company, valued at approximately $17,259,454.35. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Deirdre O’brien sold 8,053 shares of the business’s 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 sale, the senior vice president now owns 136,290 shares of the company’s stock, valued at $19,414,510.50. The disclosure for this sale can be found here. Insiders sold a total of 380,851 shares of company stock worth $56,707,789 in the last three months. Insiders own 0.06% of the company’s stock.
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.
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