Apple Inc. (NASDAQ:AAPL) is Quantum Financial Advisors LLC’s 9th Largest Position

Quantum Financial Advisors LLC grew its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,056 shares of the iPhone maker’s stock after buying an additional 126 shares during the period. Apple accounts for 3.8% of Quantum Financial Advisors LLC’s holdings, making the stock its 9th biggest position. Quantum Financial Advisors LLC’s holdings in Apple were worth $8,576,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Legal & General Group Plc increased its stake in shares of Apple by 8.2% in the second quarter. Legal & General Group Plc now owns 123,534,393 shares of the iPhone maker’s stock worth $16,889,649,000 after acquiring an additional 9,411,018 shares during the period. Vanguard Group Inc. increased its stake in shares of Apple by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after acquiring an additional 8,734,393 shares during the period. UBS Asset Management Americas Inc. increased its stake in shares of Apple by 12.1% in the second quarter. UBS Asset Management Americas Inc. now owns 80,467,043 shares of the iPhone maker’s stock worth $11,001,469,000 after acquiring an additional 8,716,964 shares during the period. Swiss National Bank increased its stake in shares of Apple by 13.1% in the first quarter. Swiss National Bank now owns 71,060,708 shares of the iPhone maker’s stock worth $12,407,910,000 after acquiring an additional 8,230,300 shares during the period. Finally, Verity Asset Management Inc. increased its stake in shares of Apple by 29,097.9% in the first quarter. Verity Asset Management Inc. now owns 5,300,881 shares of the iPhone maker’s stock worth $189,000 after acquiring an additional 5,282,726 shares during the period. Hedge funds and other institutional investors own 57.60% of the company’s stock.

Apple Price Performance

Shares of AAPL stock opened at $137.87 on Monday. 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 firm’s 50-day moving average is $138.72 and its two-hundred day moving average is $148.18. Apple Inc. has a 12 month low of $124.17 and a 12 month high of $179.61. The company has a market capitalization of $2.18 trillion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 1.78 and a beta of 1.24.

Apple (NASDAQ:AAPLGet Rating) last issued its earnings results on Thursday, October 27th. The iPhone maker reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. Apple had a net margin of 25.31% and a return on equity of 160.90%. The company had revenue of $90.15 billion for the quarter, compared to the consensus estimate of $88.77 billion. During the same period in the previous year, the firm earned $1.24 earnings per share. Apple’s quarterly revenue was up 7.8% compared to the same quarter last year. Analysts predict that Apple Inc. will post 6.19 earnings per share for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend was Friday, November 4th. Apple’s dividend payout ratio (DPR) is presently 15.06%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Bank Of America (Bofa) lowered shares of Apple from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $189.00 to $160.00 in a research note on Friday, September 30th. Morgan Stanley dropped their price target on shares of Apple from $177.00 to $175.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 8th. National Bank Financial dropped their price target on shares of Apple to $54.00 and set an “outperform” rating on the stock in a research report on Friday. Sanford C. Bernstein dropped their price target on shares of Apple from $170.00 to $125.00 in a research report on Monday, January 9th. Finally, UBS Group set a $180.00 price target on shares of Apple in a research report on Thursday, January 12th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average price target of $166.73.

Insider Activity

In other 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 sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $17,259,454.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Chris Kondo sold 20,200 shares of the business’s 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 sale, the insider now directly owns 31,505 shares of the company’s stock, valued at approximately $4,685,423.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 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 $17,259,454.35. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

About Apple

(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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