True Link Financial Advisors LLC boosted its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 110.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,080 shares of the iPhone maker’s stock after purchasing an additional 2,670 shares during the quarter. True Link Financial Advisors LLC’s holdings in Apple were worth $985,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Atlantic Private Wealth LLC acquired a new stake in Apple in the 1st quarter valued at about $30,000. Summit Wealth Group LLC boosted its stake in Apple by 16,252.3% during the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock worth $42,000 after buying an additional 6,949,659 shares during the last quarter. HBC Financial Services PLLC boosted its stake in Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after buying an additional 80 shares during the last quarter. Clear Perspectives Financial Planning LLC boosted its stake in Apple by 27.3% during the first quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock worth $172,000 after buying an additional 211 shares during the last quarter. Finally, Magellan Asset Management Ltd boosted its stake in Apple by 10.6% during the second quarter. Magellan Asset Management Ltd now owns 1,323 shares of the iPhone maker’s stock worth $181,000 after buying an additional 127 shares during the last quarter. 58.51% of the stock is owned by institutional investors and hedge funds.
Apple Price Performance
AAPL stock opened at $175.84 on Thursday. The stock has a market cap of $2.75 trillion, a price-to-earnings ratio of 29.55, a PEG ratio of 2.40 and a beta of 1.28. Apple Inc. has a fifty-two week low of $124.17 and a fifty-two week high of $198.23. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.63. The business has a 50 day moving average price of $177.94 and a 200 day moving average price of $178.77.
Apple Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Friday, August 11th. Apple’s payout ratio is 16.13%.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the company. Rosenblatt Securities reissued a “neutral” rating and set a $198.00 price objective on shares of Apple in a research note on Tuesday, September 12th. Raymond James lifted their target price on shares of Apple from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Citigroup reaffirmed a “buy” rating and set a $240.00 target price on shares of Apple in a research note on Friday, August 4th. Piper Jaffray Companies raised their target price on Apple from $180.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, July 31st. Finally, Wells Fargo & Company raised their target price on Apple from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, July 24th. Nine analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $200.40.
View Our Latest Stock Report on Apple
Insider Transactions at Apple
In related news, CFO Luca Maestri sold 31,685 shares of the company’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $178.69, for a total value of $5,661,792.65. Following the completion of the sale, the chief financial officer now directly owns 107,661 shares of the company’s stock, valued at approximately $19,237,944.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, COO Jeffrey E. Williams sold 69,785 shares of the stock in a transaction on Friday, October 6th. The shares were sold at an average price of $177.00, for a total transaction of $12,351,945.00. Following the completion of the sale, the chief operating officer now owns 489,817 shares in the company, valued at approximately $86,697,609. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Luca Maestri sold 31,685 shares of the stock in a transaction on Monday, October 9th. The stock was sold at an average price of $178.69, for a total transaction of $5,661,792.65. Following the sale, the chief financial officer now owns 107,661 shares of the company’s stock, valued at approximately $19,237,944.09. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 455,004 shares of company stock worth $79,238,767. Corporate insiders own 0.06% of the company’s stock.
Apple Profile
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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