Apple Inc. (NASDAQ:AAPL) is Financial Advocates Investment Management’s Largest Position

Financial Advocates Investment Management cut its stake in Apple Inc. (NASDAQ:AAPLFree Report) by 0.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 390,659 shares of the iPhone maker’s stock after selling 764 shares during the period. Apple accounts for approximately 4.8% of Financial Advocates Investment Management’s holdings, making the stock its largest holding. Financial Advocates Investment Management’s holdings in Apple were worth $66,885,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in AAPL. Moneta Group Investment Advisors LLC boosted its holdings in Apple by 116,483.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock worth $74,002,245,000 after buying an additional 569,066,184 shares in the last quarter. Norges Bank bought a new stake in Apple during the fourth quarter worth approximately $21,746,940,000. Morgan Stanley boosted its holdings in Apple by 14.2% during the fourth quarter. Morgan Stanley now owns 208,655,323 shares of the iPhone maker’s stock worth $27,110,586,000 after buying an additional 25,926,552 shares in the last quarter. Barclays PLC boosted its holdings in Apple by 60.0% during the second quarter. Barclays PLC now owns 46,932,352 shares of the iPhone maker’s stock worth $9,103,464,000 after buying an additional 17,604,799 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in Apple by 154.9% during the second quarter. Osaic Holdings Inc. now owns 23,295,770 shares of the iPhone maker’s stock worth $1,729,270,000 after buying an additional 14,157,430 shares in the last quarter. 58.51% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 5,513 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $192.00, for a total transaction of $1,058,496.00. Following the completion of the transaction, the insider now owns 29,174 shares of the company’s stock, valued at approximately $5,601,408. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Chris Kondo sold 5,513 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $192.00, for a total transaction of $1,058,496.00. Following the transaction, the insider now owns 29,174 shares in the company, valued at approximately $5,601,408. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 123,448 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $188.79, for a total transaction of $23,305,747.92. Following the transaction, the senior vice president now owns 293,266 shares in the company, valued at approximately $55,365,688.14. The disclosure for this sale can be found here. Insiders sold a total of 133,767 shares of company stock valued at $25,248,740 in the last quarter. Insiders own 0.06% of the company’s stock.

Apple Stock Up 0.9 %

Apple stock opened at $189.30 on Wednesday. The company has a market capitalization of $2.93 trillion, a P/E ratio of 29.49, a P/E/G ratio of 2.23 and a beta of 1.31. The firm’s fifty day simple moving average is $190.59 and its 200-day simple moving average is $184.14. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28. Apple Inc. has a 1-year low of $143.90 and a 1-year high of $199.62.

Apple (NASDAQ:AAPLGet Free Report) last released its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.09. The firm had revenue of $119.60 billion during the quarter, compared to analyst estimates of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.88 EPS. Sell-side analysts forecast that Apple Inc. will post 6.57 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Monday, February 12th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Friday, February 9th. Apple’s dividend payout ratio is 14.95%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AAPL shares. Redburn Partners cut shares of Apple to a “neutral” rating and set a $200.00 target price for the company. in a report on Wednesday, January 10th. DA Davidson assumed coverage on shares of Apple in a report on Wednesday, January 3rd. They set a “neutral” rating and a $166.00 target price for the company. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $189.00 price objective on shares of Apple in a research note on Wednesday, January 31st. Tigress Financial raised their price objective on shares of Apple from $225.00 to $240.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 16th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Apple in a research note on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-one 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 currently has an average rating of “Moderate Buy” and an average price target of $205.72.

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Apple Company Profile

(Free Report)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. 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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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