E&G Advisors LP Has $5.45 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

E&G Advisors LP lessened its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,863 shares of the iPhone maker’s stock after selling 534 shares during the quarter. Apple comprises about 1.6% of E&G Advisors LP’s investment portfolio, making the stock its 12th largest position. E&G Advisors LP’s holdings in Apple were worth $5,447,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Yeomans Consulting Group Inc. acquired a new position in shares of Apple during the fourth quarter valued at $1,713,000. Raleigh Capital Management Inc. lifted its stake in shares of Apple by 11.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock valued at $2,986,000 after acquiring an additional 1,643 shares during the period. GLOBALT Investments LLC GA bought a new stake in Apple in the fourth quarter valued at about $38,406,000. Barden Capital Management Inc. increased its holdings in Apple by 132.8% in the fourth quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock valued at $6,283,000 after purchasing an additional 18,615 shares during the last quarter. Finally, Sunpointe LLC bought a new stake in Apple in the fourth quarter valued at about $4,782,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on AAPL. Citigroup reiterated a “buy” rating and issued a $255.00 price objective on shares of Apple in a report on Tuesday, August 27th. Bank of America reiterated a “buy” rating and issued a $256.00 price objective on shares of Apple in a report on Thursday, September 5th. Evercore ISI reiterated an “outperform” rating and issued a $250.00 price objective on shares of Apple in a report on Monday. Erste Group Bank upgraded Apple from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Finally, Piper Sandler restated a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $239.17.

Apple Trading Down 2.8 %

NASDAQ AAPL opened at $216.32 on Tuesday. 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 twelve month low of $164.07 and a twelve month high of $237.23. The company has a market cap of $3.32 trillion, a price-to-earnings ratio of 33.64, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. The business’s fifty day moving average is $222.91 and its 200 day moving average is $199.00.

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 return on equity of 147.15% and a net margin of 26.44%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.26 EPS. As a group, sell-side analysts expect that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.46%. The ex-dividend date was Monday, August 12th. Apple’s payout ratio is presently 15.55%.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 100,000 shares of the business’s 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 transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Katherine L. Adams sold 100,000 shares of the business’s 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 transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the transaction, 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 three months, insiders have sold 113,884 shares of company stock valued at $23,723,887. 0.06% of the stock is currently owned by company insiders.

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.