Allen Mooney & Barnes Investment Advisors LLC Invests $29.42 Million in Apple Inc. (NASDAQ:AAPL)

Allen Mooney & Barnes Investment Advisors LLC acquired a new stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 171,813 shares of the iPhone maker’s stock, valued at approximately $29,416,000. Apple comprises about 6.3% of Allen Mooney & Barnes Investment Advisors LLC’s portfolio, making the stock its biggest holding.

Several other hedge funds also recently added to or reduced their stakes in AAPL. Atlantic Private Wealth LLC bought a new stake in shares of Apple during the 1st quarter valued at about $30,000. Summit Wealth Group LLC boosted its stake in Apple by 16,252.3% in the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 6,949,659 shares during the period. HBC Financial Services PLLC grew its holdings in shares of Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares during the last quarter. West Tower Group LLC acquired a new stake in shares of Apple during the 2nd quarter worth approximately $64,000. Finally, PayPay Securities Corp lifted its holdings in shares of Apple by 70.2% in the 3rd quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock worth $87,000 after purchasing an additional 210 shares during the last quarter. 58.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of Apple from $225.00 to $215.00 and set an “overweight” rating for the company in a research note on Friday, February 2nd. Needham & Company LLC reissued a “buy” rating and issued a $220.00 price objective on shares of Apple in a report on Friday, February 2nd. Morgan Stanley lifted their target price on Apple from $210.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, December 8th. DA Davidson began coverage on Apple in a report on Wednesday, January 3rd. They set a “neutral” rating and a $166.00 price target on the stock. Finally, Bank of America upgraded shares of Apple from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $208.00 to $225.00 in a research note on Thursday, January 18th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $205.27.

Get Our Latest Analysis on Apple

Insider Buying and Selling

In other Apple news, Director Arthur D. Levinson sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the sale, the director now directly owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Up 1.1 %

Apple stock opened at $173.00 on Friday. Apple Inc. has a twelve month low of $149.92 and a twelve month high of $199.62. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.02 and a current ratio of 1.07. The firm has a market cap of $2.67 trillion, a PE ratio of 26.95, a P/E/G ratio of 2.08 and a beta of 1.29. The firm’s 50 day moving average price is $183.56 and its two-hundred day moving average price is $183.40.

Apple (NASDAQ:AAPLGet Free Report) last posted its quarterly 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 business had revenue of $119.60 billion for the quarter, compared to the consensus estimate of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. Apple’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.88 earnings per share. On average, research analysts predict that Apple Inc. will post 6.55 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 12th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.96 annualized dividend and a dividend yield of 0.55%. Apple’s payout ratio is 14.95%.

About Apple

(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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