Apple Inc. (NASDAQ:AAPL) is Horan Capital Advisors LLC.’s 2nd Largest Position

Horan Capital Advisors LLC. decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 93,691 shares of the iPhone maker’s stock after selling 225 shares during the quarter. Apple comprises about 7.1% of Horan Capital Advisors LLC.’s holdings, making the stock its 2nd biggest position. Horan Capital Advisors LLC.’s holdings in Apple were worth $18,173,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Moneta Group Investment Advisors LLC grew its holdings in shares of Apple by 116,483.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock valued at $74,002,245,000 after purchasing an additional 569,066,184 shares during the period. Norges Bank purchased a new stake in shares of Apple in the fourth quarter valued at about $21,746,940,000. Morgan Stanley grew its holdings in shares of Apple by 14.2% in the fourth quarter. Morgan Stanley now owns 208,655,323 shares of the iPhone maker’s stock valued at $27,110,586,000 after purchasing an additional 25,926,552 shares during the period. Berkshire Hathaway Inc grew its holdings in shares of Apple by 2.3% in the first quarter. Berkshire Hathaway Inc now owns 915,560,382 shares of the iPhone maker’s stock valued at $150,975,907,000 after purchasing an additional 20,424,207 shares during the period. Finally, Providence Capital Advisors LLC grew its holdings in shares of Apple by 16,638.6% in the first quarter. Providence Capital Advisors LLC now owns 15,593,974 shares of the iPhone maker’s stock valued at $94,566,000 after purchasing an additional 15,500,812 shares during the period. Hedge funds and other institutional investors own 58.51% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $191.45 on Tuesday. The firm has a market capitalization of $2.98 trillion, a P/E ratio of 31.28, a P/E/G ratio of 2.60 and a beta of 1.30. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $198.23. The company has a quick ratio of 0.94, a current ratio of 0.99 and a debt-to-equity ratio of 1.53. The firm’s 50 day moving average is $177.15 and its two-hundred day moving average is $181.03.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $1.46 EPS for the quarter, beating the consensus estimate of $1.39 by $0.07. The company had revenue of $89.50 billion for the quarter, compared to analyst estimates of $89.34 billion. Apple had a net margin of 25.31% and a return on equity of 160.78%. The firm’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.29 earnings per share. Research analysts forecast that Apple Inc. will post 6.56 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, November 13th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, November 10th. This represents a $0.96 annualized dividend and a yield of 0.50%. Apple’s dividend payout ratio is currently 15.69%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AAPL. Evercore ISI reissued an “outperform” rating and issued a $210.00 price objective on shares of Apple in a report on Thursday, September 28th. Citigroup reaffirmed a “buy” rating and issued a $240.00 target price on shares of Apple in a research report on Friday, August 4th. Wells Fargo & Company upped their target price on shares of Apple from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 24th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Apple from $180.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, July 24th. Finally, StockNews.com initiated coverage on shares of Apple in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $198.25.

Insider Buying and Selling at Apple

In other Apple news, CEO Timothy D. Cook sold 240,569 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $172.50, for a total value of $41,498,152.50. Following the transaction, the chief executive officer now directly owns 3,280,053 shares in the company, valued at $565,809,142.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Timothy D. Cook sold 240,569 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $172.50, for a total transaction of $41,498,152.50. Following the transaction, the chief executive officer now directly owns 3,280,053 shares in the company, valued at $565,809,142.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Deirdre O’brien sold 65,536 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $172.11, for a total transaction of $11,279,400.96. Following the transaction, the senior vice president now owns 136,445 shares in the company, valued at $23,483,548.95. The disclosure for this sale can be found here. Insiders have sold 567,839 shares of company stock worth $100,675,794 over the last three months. 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.