IFG Advisors LLC Raises Holdings in Apple Inc. $AAPL

IFG Advisors LLC raised its position in shares of Apple Inc. (NASDAQ:AAPL) by 6.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 68,707 shares of the iPhone maker’s stock after buying an additional 4,427 shares during the period. Apple comprises about 2.4% of IFG Advisors LLC’s investment portfolio, making the stock its 12th biggest holding. IFG Advisors LLC’s holdings in Apple were worth $14,097,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Baker Boyer National Bank raised its position in Apple by 0.3% during the 2nd quarter. Baker Boyer National Bank now owns 18,011 shares of the iPhone maker’s stock valued at $3,695,000 after purchasing an additional 47 shares during the last quarter. Salus Financial Advisors LLC increased its stake in shares of Apple by 3.9% during the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock valued at $291,000 after buying an additional 49 shares during the period. Red Tortoise LLC raised its holdings in shares of Apple by 0.9% during the second quarter. Red Tortoise LLC now owns 5,717 shares of the iPhone maker’s stock valued at $1,173,000 after acquiring an additional 49 shares in the last quarter. SigFig Wealth Management LLC lifted its stake in Apple by 2.8% in the second quarter. SigFig Wealth Management LLC now owns 1,830 shares of the iPhone maker’s stock worth $368,000 after acquiring an additional 50 shares during the period. Finally, Shariaportfolio Inc. boosted its holdings in Apple by 1.3% in the second quarter. Shariaportfolio Inc. now owns 3,999 shares of the iPhone maker’s stock valued at $820,000 after acquiring an additional 50 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

Shares of AAPL opened at $273.33 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The stock has a market cap of $4.04 trillion, a P/E ratio of 41.48, a P/E/G ratio of 2.62 and a beta of 1.08. The business’s 50 day moving average price is $254.61 and its 200-day moving average price is $226.08. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $277.32.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data 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. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $102.47 billion during the quarter, compared to analyst estimates of $101.65 billion. During the same quarter last year, the company earned $1.64 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. Equities research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

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

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 3,752 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $271.23, for a total transaction of $1,017,654.96. Following the completion of the sale, the insider directly owned 15,098 shares in the company, valued at approximately $4,095,030.54. This trade represents a 19.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 47,125 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The stock was 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 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 sold a total of 228,052 shares of company stock worth $58,604,588 in the last ninety days. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Rosenblatt Securities upped their price objective on shares of Apple from $241.00 to $250.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Wells Fargo & Company set a $300.00 price target on shares of Apple and gave the stock an “overweight” rating in a research note on Friday, October 31st. Wedbush restated an “outperform” rating on shares of Apple in a report on Tuesday, October 21st. Monness Crespi & Hardt upped their target price on Apple from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, CLSA raised Apple to a “strong-buy” rating in a research report on Sunday, October 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have assigned 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.

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.