MBA Advisors LLC lowered its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 12.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 17,021 shares of the iPhone maker’s stock after selling 2,500 shares during the quarter. Apple accounts for about 1.6% of MBA Advisors LLC’s investment portfolio, making the stock its 17th biggest holding. MBA Advisors LLC’s holdings in Apple were worth $3,492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently modified their holdings of the company. Elwood & Goetz Wealth Advisory Group LLC grew its holdings in Apple by 8.4% during the second quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 16,353 shares of the iPhone maker’s stock valued at $3,355,000 after purchasing an additional 1,265 shares during the period. Spectrum Strategic Capital Management LLC grew its holdings in Apple by 17.1% during the second quarter. Spectrum Strategic Capital Management LLC now owns 20,472 shares of the iPhone maker’s stock valued at $4,200,000 after purchasing an additional 2,996 shares during the period. Emerald Advisors LLC grew its holdings in Apple by 8.0% during the second quarter. Emerald Advisors LLC now owns 22,017 shares of the iPhone maker’s stock valued at $4,517,000 after purchasing an additional 1,634 shares during the period. LifeGuide Financial Advisors LLC grew its holdings in Apple by 24.4% during the second quarter. LifeGuide Financial Advisors LLC now owns 3,694 shares of the iPhone maker’s stock valued at $758,000 after purchasing an additional 725 shares during the period. Finally, Mokosak Advisory Group LLC grew its holdings in Apple by 9.5% during the second quarter. Mokosak Advisory Group LLC now owns 6,657 shares of the iPhone maker’s stock valued at $1,366,000 after purchasing an additional 578 shares during the period. Institutional investors own 67.73% of the company’s stock.
Apple Price Performance
Shares of AAPL stock opened at $252.29 on Friday. The stock has a 50 day moving average price of $241.13 and a 200 day moving average price of $216.81. The firm has a market capitalization of $3.74 trillion, a P/E ratio of 38.28, a P/E/G ratio of 2.46 and a beta of 1.09. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.
Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. The company had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.Apple’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the business posted $1.40 EPS. As a group, sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.
Apple Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were given a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is presently 15.78%.
Analysts Set New Price Targets
Several research firms have issued reports on AAPL. Rosenblatt Securities boosted their price target on Apple from $223.00 to $241.00 and gave the company a “neutral” rating in a report on Wednesday, September 10th. Monness Crespi & Hardt boosted their price target on Apple from $245.00 to $270.00 and gave the company a “buy” rating in a report on Friday, August 1st. Bank of America boosted their price target on Apple from $260.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Morgan Stanley set a $298.00 price objective on Apple and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Finally, Tigress Financial upped their price objective on Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 17th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $248.29.
View Our Latest Report on AAPL
Insiders Place Their Bets
In other news, SVP Katherine L. Adams sold 47,125 shares of the firm’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the sale, the senior vice president owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This trade represents a 20.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevan Parekh sold 4,199 shares of the firm’s stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $247.39, for a total value of $1,038,790.61. Following the completion of the sale, the chief financial officer directly owned 8,765 shares of the company’s stock, valued at $2,168,373.35. The trade was a 32.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold 259,121 shares of company stock worth $65,358,981 over the last quarter. Company insiders own 0.06% of the company’s stock.
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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