Apple Inc. (NASDAQ:AAPL) Stock Position Increased by First Affirmative Financial Network

First Affirmative Financial Network raised its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.7% during the 2nd quarter, Holdings Channel reports. The firm owned 22,820 shares of the iPhone maker’s stock after buying an additional 823 shares during the quarter. Apple comprises 3.3% of First Affirmative Financial Network’s portfolio, making the stock its 4th largest holding. First Affirmative Financial Network’s holdings in Apple were worth $4,806,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AAPL. Christopher J. Hasenberg Inc acquired a new position in shares of Apple in the 1st quarter valued at about $35,000. Fidelis Capital Partners LLC lifted its holdings in shares of Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after buying an additional 31,278 shares during the period. A.P. Gilfoyle & Co. L.P. acquired a new position in shares of Apple in the 4th quarter valued at about $39,000. Gilfoyle & Co LLC lifted its holdings in shares of Apple by 168.0% in the 4th quarter. Gilfoyle & Co LLC now owns 268 shares of the iPhone maker’s stock valued at $52,000 after buying an additional 168 shares during the period. Finally, University of Texas Texas AM Investment Managment Co. lifted its holdings in shares of Apple by 657.1% in the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after buying an additional 368 shares during the period. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Trading Down 0.7 %

Shares of Apple stock opened at $226.49 on Thursday. The firm has a market capitalization of $3.47 trillion, a price-to-earnings ratio of 35.22, a PEG ratio of 2.60 and a beta of 1.24. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. The stock has a 50 day moving average of $220.80 and a 200 day moving average of $195.02.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. Apple had a return on equity of 145.35% and a net margin of 26.44%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.26 earnings per share. As a group, research analysts predict that Apple Inc. will post 6.61 earnings per share for the current year.

Apple declared that its board has approved a share repurchase program on Thursday, May 2nd that permits the company to buyback $110.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s payout ratio is 15.55%.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Apple news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,884 shares of company stock worth $23,723,887. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AAPL. Barclays decreased their price objective on Apple from $187.00 to $186.00 and set an “underweight” rating for the company in a report on Friday, August 2nd. Maxim Group upped their price target on Apple from $195.00 to $203.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Erste Group Bank raised Apple from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Rosenblatt Securities upped their price target on Apple from $260.00 to $261.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, TD Cowen upped their price target on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $237.30.

Apple Company 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.