Apple Inc. (NASDAQ:AAPL) Shares Acquired by Scott Capital Advisors LLC

Scott Capital Advisors LLC lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 9.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,169 shares of the iPhone maker’s stock after purchasing an additional 356 shares during the period. Apple comprises approximately 0.3% of Scott Capital Advisors LLC’s holdings, making the stock its 27th biggest holding. Scott Capital Advisors LLC’s holdings in Apple were worth $953,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Allied Investment Advisors LLC lifted its holdings in Apple by 0.6% in the 2nd quarter. Allied Investment Advisors LLC now owns 83,499 shares of the iPhone maker’s stock valued at $17,587,000 after purchasing an additional 523 shares in the last quarter. Conrad Siegel Investment Advisors Inc. lifted its stake in shares of Apple by 2.2% during the second quarter. Conrad Siegel Investment Advisors Inc. now owns 10,320 shares of the iPhone maker’s stock valued at $2,174,000 after buying an additional 218 shares during the period. Sound Income Strategies LLC boosted its position in Apple by 12.8% during the second quarter. Sound Income Strategies LLC now owns 87,269 shares of the iPhone maker’s stock worth $18,381,000 after acquiring an additional 9,886 shares during the last quarter. Cypress Wealth Services LLC grew its stake in Apple by 0.5% in the 2nd quarter. Cypress Wealth Services LLC now owns 132,701 shares of the iPhone maker’s stock worth $27,950,000 after acquiring an additional 725 shares during the period. Finally, FSM Wealth Advisors LLC raised its holdings in Apple by 1.5% in the 2nd quarter. FSM Wealth Advisors LLC now owns 38,446 shares of the iPhone maker’s stock valued at $8,098,000 after acquiring an additional 572 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AAPL shares. DA Davidson raised Apple from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $200.00 to $230.00 in a research report on Tuesday, June 11th. Tigress Financial lifted their price target on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 28th. The Goldman Sachs Group increased their price objective on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. UBS Group restated a “neutral” rating and issued a $190.00 target price on shares of Apple in a report on Monday, July 1st. Finally, Bank of America reaffirmed a “buy” rating and set a $256.00 price target on shares of Apple in a research report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $237.30.

Apple Stock Performance

Apple stock opened at $222.77 on Wednesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The firm’s fifty day moving average price is $222.57 and its 200 day moving average price is $196.53. The company has a market capitalization of $3.42 trillion, a price-to-earnings ratio of 34.65, a price-to-earnings-growth ratio of 2.69 and a beta of 1.24. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.23.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The business had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.26 earnings per share. On average, research analysts forecast that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Insider Transactions at Apple

In related news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the sale, the insider now owns 15,419 shares in the company, valued at approximately $3,469,275. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,884 shares of company stock valued at $23,723,887. 0.06% of the stock is currently owned by corporate insiders.

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.