SRS Capital Advisors Inc. purchased a new position in shares of Apple Inc. (NASDAQ:AAPL) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,087 shares of the iPhone maker’s stock, valued at approximately $1,403,000. Apple makes up approximately 0.5% of SRS Capital Advisors Inc.’s holdings, making the stock its 27th biggest holding.
Several other hedge funds also recently added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its holdings in Apple by 4.1% in the second quarter. Fisher Asset Management LLC now owns 13,738,592 shares of the iPhone maker’s stock worth $2,719,142,000 after purchasing an additional 546,597 shares during the period. Amundi Pioneer Asset Management Inc. boosted its holdings in Apple by 4.3% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 10,155,585 shares of the iPhone maker’s stock worth $1,929,054,000 after purchasing an additional 414,856 shares during the period. Thoroughbred Financial Services LLC boosted its holdings in Apple by 19,949.3% in the second quarter. Thoroughbred Financial Services LLC now owns 10,055,128 shares of the iPhone maker’s stock worth $1,005,513,000 after purchasing an additional 10,004,976 shares during the period. Sanders Capital LLC boosted its holdings in Apple by 3.0% in the second quarter. Sanders Capital LLC now owns 8,376,114 shares of the iPhone maker’s stock worth $1,815,725,000 after purchasing an additional 241,940 shares during the period. Finally, Clearbridge Investments LLC boosted its holdings in Apple by 4.0% in the first quarter. Clearbridge Investments LLC now owns 7,652,260 shares of the iPhone maker’s stock worth $1,453,547,000 after purchasing an additional 295,102 shares during the period. 58.77% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ AAPL traded down $4.02 during midday trading on Friday, reaching $219.07. 1,084,421 shares of the company traded hands, compared to its average volume of 24,353,276. Apple Inc. has a 52 week low of $142.00 and a 52 week high of $233.47. The stock has a 50-day moving average price of $207.16 and a 200 day moving average price of $196.48. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.50 and a quick ratio of 1.47. The company has a market cap of $979.31 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 1.79 and a beta of 1.24.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.08. Apple had a net margin of 21.50% and a return on equity of 52.13%. The business had revenue of $53.81 billion for the quarter, compared to analysts’ expectations of $53.39 billion. During the same period in the previous year, the business earned $2.34 earnings per share. The company’s revenue was up 1.0% on a year-over-year basis. As a group, analysts expect that Apple Inc. will post 11.68 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend was Friday, August 9th. Apple’s dividend payout ratio is currently 25.86%.
In other Apple news, CEO Timothy D. Cook sold 265,160 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $206.17, for a total value of $54,668,037.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Arthur D. Levinson sold 17,500 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $214.02, for a total transaction of $3,745,350.00. Following the completion of the sale, the director now owns 1,150,783 shares in the company, valued at $246,290,577.66. The disclosure for this sale can be found here. Over the last quarter, insiders sold 304,536 shares of company stock worth $62,894,611. 0.05% of the stock is owned by company insiders.
A number of equities analysts have commented on the stock. Sanford C. Bernstein set a $205.00 price objective on shares of Apple and gave the stock a “hold” rating in a report on Tuesday, September 3rd. DZ Bank reissued a “neutral” rating on shares of Apple in a report on Wednesday. Canaccord Genuity reissued a “buy” rating and set a $240.00 price target (up previously from $202.00) on shares of Apple in a report on Wednesday, July 31st. Credit Suisse Group set a $209.00 price target on shares of Apple and gave the company a “neutral” rating in a report on Tuesday, August 13th. Finally, Wedbush reissued an “outperform” rating and set a $245.00 price target on shares of Apple in a report on Monday. Four analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Apple has an average rating of “Hold” and a consensus target price of $218.18.
Apple Company Profile
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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