Financial Alternatives Inc Buys 6,791 Shares of Apple Inc. (NASDAQ:AAPL)

Financial Alternatives Inc grew its stake in shares of Apple Inc. (NASDAQ:AAPL) by 103.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,363 shares of the iPhone maker’s stock after buying an additional 6,791 shares during the quarter. Apple accounts for approximately 2.1% of Financial Alternatives Inc’s portfolio, making the stock its 13th largest holding. Financial Alternatives Inc’s holdings in Apple were worth $2,814,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AAPL. Bellwether Advisors LLC grew its stake in shares of Apple by 387.3% in the second quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock worth $5,128,000 after purchasing an additional 19,352 shares during the last quarter. Gentry Private Wealth LLC bought a new stake in shares of Apple in the second quarter worth about $876,000. WT Asset Management Ltd bought a new stake in shares of Apple in the second quarter worth about $80,057,000. TD Asset Management Inc grew its stake in shares of Apple by 10.3% in the second quarter. TD Asset Management Inc now owns 16,745,201 shares of the iPhone maker’s stock worth $3,526,874,000 after purchasing an additional 1,557,848 shares during the last quarter. Finally, Councilmark Asset Management LLC bought a new stake in shares of Apple in the first quarter worth about $11,776,000. 60.41% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction on 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 owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction on 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 sale, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 517,924 shares of company stock valued at $114,786,399 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Apple Trading Down 1.5 %

NASDAQ:AAPL opened at $230.10 on Thursday. 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 12 month low of $164.07 and a 12 month high of $237.49. The company has a market cap of $3.53 trillion, a PE ratio of 35.79, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. The company has a 50 day simple moving average of $227.23 and a two-hundred day simple moving average of $211.59.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping 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 business had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter in the previous year, the firm posted $1.26 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. Research analysts forecast that Apple Inc. will post 6.65 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Evercore ISI restated a “buy” rating and issued a $250.00 price objective on shares of Apple in a report on Thursday, September 26th. New Street Research restated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a report on Wednesday, September 25th. Loop Capital raised their price objective on shares of Apple to $300.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Piper Sandler restated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a report on Wednesday, October 9th. Finally, Maxim Group restated a “hold” rating and issued a $203.00 price objective on shares of Apple in a report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $235.91.

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.