Crewe Advisors LLC Invests $21.82 Million in Apple Inc. $AAPL

Crewe Advisors LLC acquired a new stake in shares of Apple Inc. (NASDAQ:AAPL) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 106,363 shares of the iPhone maker’s stock, valued at approximately $21,823,000. Apple comprises about 3.1% of Crewe Advisors LLC’s holdings, making the stock its 10th largest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Ryan Investment Management Inc. acquired a new stake in Apple in the second quarter worth $31,000. ROSS JOHNSON & Associates LLC lifted its position in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares during the period. Nexus Investment Management ULC lifted 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. acquired a new position in shares of Apple in the 1st quarter worth $58,000. Finally, LSV Asset Management acquired a new position in shares of Apple in the fourth quarter worth about $65,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the topic of several recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Apple in a research report on Friday, July 25th. Argus set a $325.00 target price on Apple and gave the company a “buy” rating in a report on Friday, October 31st. Raymond James Financial reissued an “outperform” rating and issued a $240.00 price target (up from $230.00) on shares of Apple in a research report on Friday, August 1st. The Goldman Sachs Group boosted their price objective on shares of Apple from $279.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Morgan Stanley upped their price objective on shares of Apple from $298.00 to $305.00 and gave the company an “overweight” rating in a research note 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 issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $278.22.

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 3,752 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $271.23, for a total transaction of $1,017,654.96. Following the transaction, the insider owned 15,098 shares in the company, valued at $4,095,030.54. This trade represents a 19.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the completion of the transaction, the senior vice president directly owned 179,158 shares in the company, valued at approximately $46,005,982.82. This represents a 20.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 228,052 shares of company stock worth $58,604,588 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Apple Stock Performance

AAPL stock opened at $268.56 on Thursday. The firm has a 50 day moving average of $258.01 and a two-hundred day moving average of $228.15. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $277.32. The company has a market capitalization of $3.97 trillion, a price-to-earnings ratio of 40.75, a P/E/G ratio of 2.62 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. The business had revenue of $102.47 billion for the quarter, compared to the consensus estimate of $101.65 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. Apple’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.64 EPS. As a group, equities analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 10th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, November 10th. Apple’s dividend payout ratio is 13.92%.

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.