Narus Financial Partners LLC Lowers Holdings in Apple Inc. (NASDAQ:AAPL)

Narus Financial Partners LLC decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 2.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 18,018 shares of the iPhone maker’s stock after selling 444 shares during the quarter. Apple accounts for approximately 1.5% of Narus Financial Partners LLC’s portfolio, making the stock its 5th largest position. Narus Financial Partners LLC’s holdings in Apple were worth $3,795,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Apple by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after purchasing an additional 18,067,216 shares in the last quarter. Norges Bank bought a new position in Apple in the fourth quarter valued at approximately $33,912,466,000. Wellington Management Group LLP grew its holdings in Apple by 3.6% during the 4th quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock worth $11,677,190,000 after acquiring an additional 2,096,360 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Apple by 2.0% in the 4th quarter. Fisher Asset Management LLC now owns 54,702,300 shares of the iPhone maker’s stock valued at $10,531,834,000 after purchasing an additional 1,067,587 shares during the period. Finally, Capital International Investors lifted its stake in shares of Apple by 7.1% in the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock valued at $6,369,852,000 after purchasing an additional 2,474,887 shares during the period. 60.41% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 8,706 shares of Apple 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 sale, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the 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 transaction, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. The disclosure for this sale can be found here. Insiders sold a total of 113,884 shares of company stock worth $23,723,887 over the last ninety days. 0.06% of the stock is owned by corporate insiders.

Apple Trading Down 0.1 %

Shares of AAPL stock opened at $222.50 on Friday. The stock has a market capitalization of $3.38 trillion, a price-to-earnings ratio of 34.60, a PEG ratio of 2.62 and a beta of 1.24. The company’s fifty day simple moving average is $223.14 and its two-hundred day simple moving average is $198.52. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.23. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91.

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

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 paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio is 15.55%.

Analysts Set New Price Targets

AAPL has been the topic of several analyst reports. Raymond James increased their target price on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Piper Sandler Companies reiterated a “neutral” rating and issued a $225.00 target price (up from $190.00) on shares of Apple in a report on Tuesday, July 9th. Bank of America restated a “buy” rating and issued a $256.00 price objective on shares of Apple in a research report on Thursday, September 5th. Tigress Financial lifted their target price on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. Finally, Piper Sandler restated a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Tuesday. 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $238.62.

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.