Apple Inc. (NASDAQ:AAPL) Stock Holdings Cut by Investment Advisory Services Inc. TX ADV

Investment Advisory Services Inc. TX ADV decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.9% during the second quarter, Holdings Channel.com reports. The firm owned 57,907 shares of the iPhone maker’s stock after selling 1,125 shares during the period. Apple accounts for about 4.5% of Investment Advisory Services Inc. TX ADV’s portfolio, making the stock its 6th largest position. Investment Advisory Services Inc. TX ADV’s holdings in Apple were worth $12,196,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Savior LLC purchased a new stake in shares of Apple in the second quarter valued at $248,000. Red Door Wealth Management LLC raised its stake in shares of Apple by 2.9% in the second quarter. Red Door Wealth Management LLC now owns 113,103 shares of the iPhone maker’s stock valued at $23,822,000 after acquiring an additional 3,232 shares during the period. High Net Worth Advisory Group LLC raised its stake in shares of Apple by 0.6% in the second quarter. High Net Worth Advisory Group LLC now owns 62,949 shares of the iPhone maker’s stock valued at $13,259,000 after acquiring an additional 405 shares during the period. Eaton Cambridge Inc. raised its stake in shares of Apple by 2.1% in the second quarter. Eaton Cambridge Inc. now owns 10,680 shares of the iPhone maker’s stock valued at $2,249,000 after acquiring an additional 224 shares during the period. Finally, AlphaMark Advisors LLC raised its stake in shares of Apple by 2.9% in the second quarter. AlphaMark Advisors LLC now owns 12,639 shares of the iPhone maker’s stock valued at $2,662,000 after acquiring an additional 356 shares during the period. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Stock Up 0.0 %

AAPL stock opened at $222.77 on Friday. The firm has a 50 day moving average of $223.22 and a 200 day moving average of $198.23. The stock has a market capitalization of $3.42 trillion, a PE ratio of 34.65, a price-to-earnings-growth ratio of 2.60 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.23.

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

Apple Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AAPL shares. Erste Group Bank raised shares of Apple from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Piper Sandler Companies reaffirmed a “neutral” rating and issued a $225.00 price target (up previously from $190.00) on shares of Apple in a research note on Tuesday, July 9th. Cfra raised their price target on shares of Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $245.00 price target on shares of Apple in a research note on Monday. Finally, Citigroup reaffirmed a “buy” rating and issued a $255.00 price target on shares of Apple in a research note on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $238.62.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly 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 accessible through this link. Also, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,469,275. The disclosure for this sale can be found here. Insiders sold 113,884 shares of company stock worth $23,723,887 in the last three months. Corporate insiders own 0.06% of the company’s stock.

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.