Bridge Advisory LLC Grows Position in Apple Inc. (NASDAQ:AAPL)

Bridge Advisory LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,413 shares of the iPhone maker’s stock after buying an additional 851 shares during the period. Apple accounts for approximately 3.6% of Bridge Advisory LLC’s holdings, making the stock its 8th biggest position. Bridge Advisory LLC’s holdings in Apple were worth $7,248,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Foresight Capital Management Advisors Inc. increased its stake in shares of Apple by 0.3% in the 2nd quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock valued at $4,003,000 after buying an additional 55 shares during the period. Altus Wealth Management LLC increased its position in Apple by 0.6% in the second quarter. Altus Wealth Management LLC now owns 9,508 shares of the iPhone maker’s stock worth $2,002,000 after purchasing an additional 55 shares during the period. Hoese & Co LLP increased its position in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the period. Stableford Capital II LLC raised its holdings in Apple by 0.3% during the 1st quarter. Stableford Capital II LLC now owns 17,156 shares of the iPhone maker’s stock worth $2,942,000 after purchasing an additional 59 shares during the last quarter. Finally, Whitcomb & Hess Inc. lifted its position in Apple by 1.7% during the 2nd quarter. Whitcomb & Hess Inc. now owns 3,540 shares of the iPhone maker’s stock valued at $746,000 after purchasing an additional 59 shares during the period. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Down 0.4 %

Apple stock opened at $226.37 on Thursday. The company has a fifty day simple moving average of $222.10 and a 200 day simple moving average of $201.22. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.23. The company has a market cap of $3.47 trillion, a P/E ratio of 35.21, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter in the previous year, the business earned $1.26 earnings per share. Apple’s quarterly revenue was up 4.9% on a year-over-year basis. Research analysts anticipate that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio is currently 15.55%.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of recent research reports. Evercore ISI reissued an “outperform” rating and set a $250.00 price target on shares of Apple in a research note on Monday, September 16th. UBS Group upped their target price on shares of Apple from $190.00 to $236.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. KeyCorp restated a “hold” rating and issued a $247.61 price target on shares of Apple in a research report on Wednesday, August 28th. StockNews.com raised Apple from a “hold” rating to a “buy” rating in a research note on Friday, September 20th. Finally, New Street Research reissued a “neutral” rating and issued a $225.00 target price on shares of Apple in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eleven 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $238.76.

Insider Activity

In related news, SVP Katherine L. Adams sold 100,000 shares of the business’s 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 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 filing with the SEC, which is available through this link. In other news, SVP Katherine L. Adams sold 100,000 shares of Apple 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 transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,884 shares of company stock valued at $23,723,887. 0.06% of the stock is owned by 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.