Independent Advisor Alliance Increases Stock Position in Apple Inc. (NASDAQ:AAPL)

Independent Advisor Alliance boosted its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 920,737 shares of the iPhone maker’s stock after purchasing an additional 8,028 shares during the quarter. Apple comprises 6.6% of Independent Advisor Alliance’s holdings, making the stock its biggest position. Independent Advisor Alliance’s holdings in Apple were worth $193,926,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. Somerset Group LLC boosted its position in Apple by 2.3% during the 2nd quarter. Somerset Group LLC now owns 27,650 shares of the iPhone maker’s stock worth $5,824,000 after acquiring an additional 631 shares during the last quarter. WCG Wealth Advisors LLC increased its position in Apple by 13.5% during the 2nd quarter. WCG Wealth Advisors LLC now owns 198,305 shares of the iPhone maker’s stock worth $41,767,000 after buying an additional 23,578 shares during the period. Intrepid Financial Planning Group LLC increased its position in shares of Apple by 5.1% in the second quarter. Intrepid Financial Planning Group LLC now owns 43,929 shares of the iPhone maker’s stock worth $9,252,000 after purchasing an additional 2,115 shares during the period. Glass Jacobson Investment Advisors llc boosted its stake in Apple by 1.0% in the second quarter. Glass Jacobson Investment Advisors llc now owns 19,508 shares of the iPhone maker’s stock valued at $4,109,000 after buying an additional 185 shares in the last quarter. Finally, Soundwatch Capital LLC boosted its stake in Apple by 169.1% in the second quarter. Soundwatch Capital LLC now owns 5,810 shares of the iPhone maker’s stock valued at $1,224,000 after buying an additional 3,651 shares in the last quarter. 60.41% of the stock is owned by institutional investors.

Apple Stock Down 0.3 %

Shares of NASDAQ:AAPL opened at $222.72 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The stock has a market cap of $3.39 trillion, a P/E ratio of 36.63, a price-to-earnings-growth ratio of 2.39 and a beta of 1.24. The business’s 50 day moving average is $226.91 and its 200 day moving average is $213.51. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.46 EPS. Sell-side analysts predict that Apple Inc. will post 7.45 EPS for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Loop Capital decreased their price objective on Apple from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday. Jefferies Financial Group lowered Apple from a “buy” rating to a “hold” rating and upped their target price for the stock from $205.00 to $212.92 in a research note on Monday, October 7th. Robert W. Baird increased their target price on Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. The Goldman Sachs Group raised their target price on Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Maxim Group lifted their price target on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $235.51.

Insider Transactions at Apple

In other Apple news, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at $24,416,137.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Apple news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 417,924 shares of company stock worth $94,142,399 in the last quarter. Company insiders own 0.06% of the company’s stock.

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.