Scarborough Advisors LLC Purchases 450 Shares of Apple Inc. (NASDAQ:AAPL)

Scarborough Advisors LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,969 shares of the iPhone maker’s stock after purchasing an additional 450 shares during the quarter. Apple comprises 1.4% of Scarborough Advisors LLC’s investment portfolio, making the stock its 18th biggest holding. Scarborough Advisors LLC’s holdings in Apple were worth $3,363,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AAPL. Verus Financial Partners Inc. boosted its stake in shares of Apple by 0.3% in the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after acquiring an additional 48 shares during the period. Brown Financial Advisory boosted its stake in Apple by 3.8% in the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after purchasing an additional 50 shares during the period. Core Wealth Management Inc. boosted its stake in Apple by 1.7% in the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after purchasing an additional 50 shares during the period. Lowery Thomas LLC raised its position in shares of Apple by 0.7% during the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock valued at $1,602,000 after buying an additional 50 shares during the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. lifted its holdings in shares of Apple by 1.1% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after buying an additional 51 shares in the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AAPL has been the subject of several research analyst reports. New Street Research reaffirmed a “neutral” rating and set a $225.00 target price on shares of Apple in a research note on Wednesday, September 25th. Loop Capital lifted their target price on Apple to $300.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Barclays reissued an “underweight” rating and set a $186.00 price target on shares of Apple in a research note on Tuesday, October 1st. Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $245.00 price objective on shares of Apple in a research note on Monday, September 9th. Finally, Evercore ISI reiterated a “buy” rating and set a $250.00 target price on shares of Apple in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $235.91.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction that occurred 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 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president now owns 191,543 shares in the company, valued at $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 is available at this link. Also, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total value 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. 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 ninety days. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Down 1.8 %

Shares of Apple stock opened at $225.91 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. The company has a market cap of $3.43 trillion, a P/E ratio of 34.39, a PEG ratio of 2.40 and a beta of 1.24. The firm’s 50 day moving average price is $227.26 and its 200-day moving average price is $211.69. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. During the same period last year, the firm earned $1.26 earnings per share. Apple’s revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts predict that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s dividend payout ratio (DPR) is 15.22%.

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.