Apple Inc. (NASDAQ:AAPL) Holdings Raised by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 14,145.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,612,261 shares of the iPhone maker’s stock after buying an additional 7,558,826 shares during the period. Strategic Financial Concepts LLC’s holdings in Apple were worth $1,603,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Verus Financial Partners Inc. lifted its stake in Apple by 0.3% in the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after acquiring an additional 48 shares in the last quarter. Brown Financial Advisory grew its position in Apple by 3.8% during the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after purchasing an additional 50 shares in the last quarter. Core Wealth Management Inc. increased its stake in Apple by 1.7% in the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after buying an additional 50 shares during the period. Lowery Thomas LLC lifted its position in Apple by 0.7% in the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after buying an additional 50 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. grew its holdings in shares of Apple by 1.1% during the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock valued at $949,000 after acquiring an additional 51 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Apple Price Performance

NASDAQ:AAPL opened at $230.76 on Thursday. The company has a market capitalization of $3.54 trillion, a price-to-earnings ratio of 35.89, a PEG ratio of 2.40 and a beta of 1.24. The company has a 50-day moving average of $226.64 and a 200-day moving average of $209.48. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same period in the previous year, the business earned $1.26 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities research analysts anticipate that Apple Inc. will post 6.65 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.43%. Apple’s dividend payout ratio is currently 15.55%.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Apple news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the transaction, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 517,924 shares of company stock worth $114,786,399 over the last three months. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AAPL has been the subject of a number of research reports. Oppenheimer reissued a “buy” rating and set a $250.00 price objective on shares of Apple in a research report on Tuesday, October 1st. Barclays restated an “underweight” rating and issued a $186.00 price objective on shares of Apple in a report on Tuesday, October 1st. Robert W. Baird boosted their target price on shares of Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Raymond James raised their price target on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Wedbush reiterated an “outperform” rating and issued a $285.00 price objective on shares of Apple in a report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $237.27.

Apple Company 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.