Hobbs Group Advisors LLC Buys Shares of 16,225 Apple Inc. (NASDAQ:AAPL)

Hobbs Group Advisors LLC bought a new stake in Apple Inc. (NASDAQ:AAPL) in the second quarter, HoldingsChannel reports. The institutional investor bought 16,225 shares of the iPhone maker’s stock, valued at approximately $3,417,000. Apple comprises 1.3% of Hobbs Group Advisors LLC’s holdings, making the stock its 16th biggest position.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Christopher J. Hasenberg Inc acquired a new position in shares of Apple during the 1st quarter worth $35,000. Fidelis Capital Partners LLC raised its stake in shares of 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 buying an additional 31,278 shares during the last quarter. A.P. Gilfoyle & Co. L.P. acquired a new position in shares of Apple during the 4th quarter worth $39,000. University of Texas Texas AM Investment Managment Co. raised its stake in shares of Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after buying an additional 368 shares during the last quarter. Finally, Clarity Asset Management Inc. acquired a new position in shares of Apple during the 4th quarter worth $85,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Buying and Selling

In related news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the company’s 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 in the company, valued at $39,542,136.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 113,884 shares of company stock valued at $23,723,887. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on AAPL. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $265.00 price target on shares of Apple in a research note on Tuesday, September 10th. Sanford C. Bernstein boosted their target price on shares of Apple from $195.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, June 21st. Cfra boosted their target price on shares of Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Bank of America reissued a “buy” rating and issued a $256.00 target price on shares of Apple in a research note on Thursday, September 5th. Finally, UBS Group boosted their target price on shares of Apple from $190.00 to $236.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $239.17.

Apple Stock Down 0.3 %

Shares of NASDAQ:AAPL opened at $228.20 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.23. The stock has a market capitalization of $3.50 trillion, a P/E ratio of 35.49, a PEG ratio of 2.62 and a beta of 1.24. The stock has a 50-day simple moving average of $222.41 and a 200-day simple moving average of $200.19.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. During the same quarter in the previous year, the business earned $1.26 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities analysts forecast that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Apple Company 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.