Financial Futures Ltd Liability Co. Acquires 621 Shares of Apple Inc. (NASDAQ:AAPL)

Financial Futures Ltd Liability Co. grew its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 23.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 3,309 shares of the iPhone maker’s stock after purchasing an additional 621 shares during the period. Financial Futures Ltd Liability Co.’s holdings in Apple were worth $697,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Fidelis Capital Partners LLC raised its holdings in Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after purchasing an additional 31,278 shares during the last quarter. Access Investment Management LLC acquired a new stake in shares of Apple during the first quarter worth $140,000. Hoese & Co LLP increased its position in shares of Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after buying an additional 57 shares during the period. Sage Financial Group Inc. acquired a new position in Apple in the second quarter valued at $206,000. Finally, Benchmark Wealth Management LLC bought a new stake in Apple during the second quarter valued at $208,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Performance

Shares of AAPL opened at $231.41 on Friday. The stock has a 50 day moving average of $226.75 and a 200 day moving average of $209.62. The company has a market capitalization of $3.55 trillion, a price-to-earnings ratio of 35.99, a PEG ratio of 2.40 and a beta of 1.24. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. 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 (NASDAQ:AAPL) last released 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 net margin of 26.44% and a return on equity of 147.15%. The firm had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. During the same period in the previous year, the company earned $1.26 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts forecast that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. Apple’s payout ratio is presently 15.55%.

Insider Activity

In related news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. This 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 available through this link. Also, CFO Luca Maestri sold 59,305 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the transaction, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 517,924 shares of company stock valued at $114,786,399 in the last 90 days. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AAPL shares. Cfra boosted their price objective on Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Melius Research restated a “buy” rating and set a $265.00 price target on shares of Apple in a report on Tuesday, August 27th. Piper Sandler reiterated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research note on Wednesday, October 9th. Rosenblatt Securities reissued a “buy” rating and set a $261.00 target price on shares of Apple in a research note on Tuesday, September 10th. Finally, Jefferies Financial Group cut shares of Apple from a “buy” rating to a “hold” rating and raised their price target for the stock from $205.00 to $212.92 in a report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $235.91.

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.