Farr Miller & Washington LLC DC raised its holdings in Apple Inc. (NASDAQ:AAPL) by 0.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,310 shares of the iPhone maker’s stock after acquiring an additional 126 shares during the period. Farr Miller & Washington LLC DC’s holdings in Apple were worth $7,780,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Semmax Financial Advisors Inc. purchased a new position in shares of Apple during the 4th quarter valued at about $50,000. Avondale Wealth Management grew its position in shares of Apple by 25.4% in the 2nd quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock worth $63,000 after buying an additional 64 shares during the last quarter. NuWave Investment Management LLC boosted its position in shares of Apple by 2,245.0% during the second quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock valued at $93,000 after purchasing an additional 449 shares in the last quarter. Horan Securities Inc. boosted its position in shares of Apple by 64.2% during the second quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock valued at $112,000 after purchasing an additional 221 shares in the last quarter. Finally, INR Advisory Services LLC purchased a new position in Apple during the fourth quarter valued at $124,000. Hedge funds and other institutional investors own 58.77% of the company’s stock.
In other news, insider Chris Kondo sold 4,376 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $217.47, for a total transaction of $951,648.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Arthur D. Levinson sold 17,500 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $214.02, for a total value of $3,745,350.00. Following the sale, the director now owns 1,150,783 shares of the company’s stock, valued at approximately $246,290,577.66. The disclosure for this sale can be found here. Insiders have sold a total of 304,536 shares of company stock worth $62,894,611 in the last ninety days. Insiders own 0.05% of the company’s stock.
Shares of NASDAQ AAPL traded down $4.34 during midday trading on Friday, hitting $218.75. The company’s stock had a trading volume of 22,073,787 shares, compared to its average volume of 24,353,276. Apple Inc. has a 12-month low of $142.00 and a 12-month high of $233.47. The firm has a market cap of $979.31 billion, a P/E ratio of 18.37, a price-to-earnings-growth ratio of 1.79 and a beta of 1.24. The business’s 50 day moving average is $207.16 and its two-hundred day moving average is $196.48. The company has a current ratio of 1.50, a quick ratio of 1.47 and a debt-to-equity ratio of 0.88.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.08. The business had revenue of $53.81 billion for the quarter, compared to analysts’ expectations of $53.39 billion. Apple had a return on equity of 52.13% and a net margin of 21.50%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.34 EPS. On average, analysts predict that Apple Inc. will post 11.68 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.08 annualized dividend and a yield of 1.41%. Apple’s dividend payout ratio (DPR) is presently 25.86%.
A number of research analysts have issued reports on AAPL shares. Morgan Stanley set a $247.00 price objective on Apple and gave the company a “buy” rating in a research note on Thursday. Raymond James upgraded Apple from a “market perform” rating to an “outperform” rating and set a $250.00 price target for the company in a research note on Thursday, July 18th. Macquarie set a $210.00 price target on Apple and gave the stock a “hold” rating in a research note on Tuesday. Cascend Securities reaffirmed a “buy” rating and issued a $240.00 price objective (up previously from $210.00) on shares of Apple in a report on Thursday, June 20th. Finally, ValuEngine raised Apple from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Four research analysts have rated the stock with a sell rating, nineteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Apple has an average rating of “Hold” and a consensus price target 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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