Briaud Financial Planning Inc Purchases 999 Shares of Apple Inc. (NASDAQ:AAPL)

Briaud Financial Planning Inc grew its stake in shares of Apple Inc. (NASDAQ:AAPL) by 18.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,456 shares of the iPhone maker’s stock after acquiring an additional 999 shares during the quarter. Apple comprises about 0.8% of Briaud Financial Planning Inc’s holdings, making the stock its 8th largest position. Briaud Financial Planning Inc’s holdings in Apple were worth $1,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the company. Detalus Advisors LLC lifted its holdings in shares of Apple by 1.6% during the 2nd quarter. Detalus Advisors LLC now owns 21,206 shares of the iPhone maker’s stock worth $4,466,000 after acquiring an additional 339 shares during the period. Ballast Advisors LLC lifted its holdings in shares of Apple by 1.0% in the 2nd quarter. Ballast Advisors LLC now owns 114,930 shares of the iPhone maker’s stock worth $24,207,000 after acquiring an additional 1,154 shares during the last quarter. Durante & Waters LLC grew its stake in Apple by 5.8% in the second quarter. Durante & Waters LLC now owns 5,792 shares of the iPhone maker’s stock valued at $1,220,000 after purchasing an additional 316 shares during the last quarter. Avion Wealth boosted its stake in shares of Apple by 11.3% in the second quarter. Avion Wealth now owns 14,111 shares of the iPhone maker’s stock worth $2,972,000 after buying an additional 1,429 shares during the last quarter. Finally, Crosspoint Financial LLC acquired a new stake in Apple in the 2nd quarter valued at about $287,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Apple Stock Up 0.5 %

AAPL stock opened at $226.80 on Friday. 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 12-month low of $164.07 and a 12-month high of $237.23. The company has a 50 day moving average of $222.90 and a two-hundred day moving average of $203.86. The company has a market cap of $3.48 trillion, a price-to-earnings ratio of 35.27, a PEG ratio of 2.66 and a beta of 1.24.

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

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued 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%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AAPL. Piper Sandler Companies reissued a “neutral” rating and issued a $225.00 price objective (up previously from $190.00) on shares of Apple in a research report on Tuesday, July 9th. Cfra boosted 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. Rosenblatt Securities reissued a “buy” rating and set a $261.00 price target on shares of Apple in a report on Tuesday, September 10th. Citigroup reissued a “buy” rating and set a $255.00 price objective on shares of Apple in a research report on Wednesday. Finally, Maxim Group restated a “hold” rating and issued a $203.00 target price on shares of Apple in a research note on Tuesday, September 10th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $238.76.

Insider Activity at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of Apple 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 in the company, valued at approximately $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the sale, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 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 approximately $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 458,619 shares of company stock worth $101,352,630 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Apple 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.