Apple Inc. $AAPL Stock Position Increased by Marino Stram & Associates LLC

Marino Stram & Associates LLC increased its stake in Apple Inc. (NASDAQ:AAPL) by 4.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 46,327 shares of the iPhone maker’s stock after buying an additional 1,853 shares during the period. Apple accounts for about 1.9% of Marino Stram & Associates LLC’s holdings, making the stock its 9th largest holding. Marino Stram & Associates LLC’s holdings in Apple were worth $9,505,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in AAPL. First National Bank of Hutchinson boosted its stake in Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after purchasing an additional 6,982 shares during the last quarter. Eagle Capital Management LLC boosted its stake in Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after purchasing an additional 272 shares during the last quarter. Brighton Jones LLC boosted its stake in Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock valued at $134,554,000 after purchasing an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in Apple by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock valued at $16,742,000 after purchasing an additional 2,695 shares during the last quarter. Finally, Highview Capital Management LLC DE boosted its stake in Apple by 2.4% during the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock valued at $12,587,000 after purchasing an additional 1,155 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Deirdre O’brien sold 43,013 shares of Apple stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the sale, the senior vice president directly owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. The trade was a 23.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction dated 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 directly owned 179,158 shares in the company, valued at $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 259,121 shares of company stock valued at $65,358,981 in the last ninety days. Insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of Apple stock opened at $252.29 on Monday. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The stock’s fifty day moving average is $241.13 and its 200 day moving average is $216.91. The stock has a market cap 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. 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) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. The company had revenue of $94.04 billion for the quarter, compared to analysts’ expectations of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.Apple’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the firm earned $1.40 EPS. Sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple’s dividend payout ratio (DPR) is currently 15.78%.

Wall Street Analysts Forecast Growth

Several analysts have commented on AAPL shares. Bank of America increased their target price on Apple from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Wedbush set a $310.00 price target on Apple and gave the company an “outperform” rating in a report on Monday, September 22nd. The Goldman Sachs Group reissued a “buy” rating and set a $266.00 price target on shares of Apple in a report on Tuesday, August 26th. Phillip Securities cut Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price target on the stock. in a report on Thursday, September 11th. Finally, Raymond James Financial reissued an “outperform” rating and set a $240.00 price target (up from $230.00) on shares of Apple in a report on Friday, August 1st. Four analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $248.29.

About Apple

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.