Apple Inc. (NASDAQ:AAPL) is Benchmark Financial Wealth Advisors LLC’s 10th Largest Position

Benchmark Financial Wealth Advisors LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 6.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,287 shares of the iPhone maker’s stock after selling 2,240 shares during the period. Apple makes up about 2.8% of Benchmark Financial Wealth Advisors LLC’s investment portfolio, making the stock its 10th largest holding. Benchmark Financial Wealth Advisors LLC’s holdings in Apple were worth $7,432,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Disciplined Equity Management Inc. boosted its holdings in Apple by 879.6% in the fourth quarter. Disciplined Equity Management Inc. now owns 7,210 shares of the iPhone maker’s stock worth $1,388,000 after purchasing an additional 6,474 shares during the last quarter. Lyell Wealth Management LP lifted its holdings in shares of Apple by 7.7% during the 4th quarter. Lyell Wealth Management LP now owns 178,057 shares of the iPhone maker’s stock valued at $34,281,000 after buying an additional 12,804 shares during the period. Channing Global Advisors LLC boosted its stake in shares of Apple by 1.1% in the 4th quarter. Channing Global Advisors LLC now owns 14,943 shares of the iPhone maker’s stock worth $2,877,000 after buying an additional 167 shares during the last quarter. Stack Financial Management Inc bought a new stake in shares of Apple in the fourth quarter worth $212,000. Finally, Pittenger & Anderson Inc. increased its position in Apple by 0.3% during the fourth quarter. Pittenger & Anderson Inc. now owns 240,954 shares of the iPhone maker’s stock valued at $46,391,000 after acquiring an additional 761 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

Apple Price Performance

AAPL stock opened at $226.47 on Tuesday. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.23. The firm has a market capitalization of $3.47 trillion, a P/E ratio of 35.22, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. The company has a fifty day simple moving average of $222.25 and a two-hundred day simple moving average of $200.82. 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 (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter last year, the firm earned $1.26 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. Analysts anticipate that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Announces Dividend

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

Insider Activity at Apple

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction 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 $39,542,136.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Chris Kondo sold 8,706 shares of the 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 sale, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,884 shares of company stock worth $23,723,887. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several research reports. Oppenheimer reissued an “outperform” rating and issued a $250.00 target price on shares of Apple in a research report on Tuesday, September 10th. Rosenblatt Securities restated a “buy” rating and set a $261.00 target price on shares of Apple in a research report on Tuesday, September 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 target price on shares of Apple in a report on Tuesday, September 10th. Loop Capital upgraded shares of Apple from a “hold” rating to a “buy” rating and lifted their price target for the stock from $170.00 to $300.00 in a research note on Monday, July 15th. Finally, Raymond James upped their price objective on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $239.17.

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.