Apple Inc. $AAPL Shares Purchased by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 21.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 124,740 shares of the iPhone maker’s stock after acquiring an additional 21,922 shares during the quarter. Apple accounts for approximately 3.0% of Turtle Creek Wealth Advisors LLC’s investment portfolio, making the stock its 5th biggest holding. Turtle Creek Wealth Advisors LLC’s holdings in Apple were worth $25,593,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Ryan Investment Management Inc. purchased a new stake in shares of Apple during the second quarter worth approximately $31,000. ROSS JOHNSON & Associates LLC boosted its position in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 180 shares during the last quarter. Nexus Investment Management ULC raised its holdings in Apple by 333.3% in the 2nd quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock valued at $53,000 after acquiring an additional 200 shares during the last quarter. Elite Financial Inc. purchased a new stake in shares of Apple in the first quarter valued at approximately $58,000. Finally, LSV Asset Management purchased a new position in shares of Apple during the 4th quarter worth $65,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AAPL shares. Moffett Nathanson upgraded Apple from a “sell” rating to a “neutral” rating and set a $225.00 price objective for the company in a research report on Thursday, September 4th. Monness Crespi & Hardt upped their target price on shares of Apple from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Jefferies Financial Group upgraded shares of Apple from an “underperform” rating to a “hold” rating and lifted their price target for the company from $203.07 to $246.99 in a research report on Friday, October 31st. JPMorgan Chase & Co. upped their price objective on shares of Apple from $290.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Finally, Wells Fargo & Company set a $300.00 target price on shares of Apple and gave the company an “overweight” rating in a report on Friday, October 31st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $278.22.

Apple Stock Down 0.2%

Apple stock opened at $272.95 on Friday. The company has a market capitalization of $4.03 trillion, a P/E ratio of 41.42, a PEG ratio of 2.62 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 Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $277.32. The stock has a 50-day simple moving average of $255.27 and a 200-day simple moving average of $226.41.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. During the same period in the prior year, the company earned $1.64 earnings per share. The business’s revenue was up 8.7% compared to the same quarter last year. Equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, November 10th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, November 10th. Apple’s dividend payout ratio is presently 13.92%.

Insider Activity

In other news, CFO Kevan Parekh sold 4,199 shares of the stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $247.39, for a total value of $1,038,790.61. Following the sale, the chief financial officer directly owned 8,765 shares in the company, valued at $2,168,373.35. This represents a 32.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were 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 owned 179,158 shares in the company, valued at $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 228,052 shares of company stock worth $58,604,588 in the last three months. Company 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.