Sound Income Strategies LLC Buys 1,262 Shares of Apple Inc. (NASDAQ:AAPL)

Sound Income Strategies LLC raised its stake in Apple Inc. (NASDAQ:AAPL) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 88,531 shares of the iPhone maker’s stock after purchasing an additional 1,262 shares during the period. Apple accounts for approximately 1.3% of Sound Income Strategies LLC’s investment portfolio, making the stock its 20th largest holding. Sound Income Strategies LLC’s holdings in Apple were worth $20,628,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AAPL. Hershey Financial Advisers LLC acquired a new stake in Apple during the second quarter valued at $42,000. Christopher J. Hasenberg Inc raised its holdings in Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares during the period. Hoese & Co LLP grew its holdings in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 57 shares during the period. Sage Financial Group Inc. acquired a new position in shares of Apple during the 2nd quarter worth approximately $206,000. Finally, Benchmark Wealth Management LLC acquired a new stake in Apple in the 2nd quarter valued at $208,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Apple news, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the sale, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at $42,309,126.60. The trade was a 24.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AAPL. Loop Capital lowered their target price on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Moffett Nathanson cut their price objective on shares of Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a report on Tuesday, November 19th. Piper Sandler restated a “neutral” rating and set a $225.00 target price on shares of Apple in a report on Wednesday, October 9th. Maxim Group boosted their price objective on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Finally, Morgan Stanley reiterated an “overweight” rating and set a $273.00 price target on shares of Apple in a report on Monday, November 25th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $235.68.

Apple Price Performance

Shares of NASDAQ AAPL opened at $239.59 on Tuesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $240.79. The company’s 50-day moving average is $229.02 and its 200 day moving average is $220.02. The stock has a market capitalization of $3.62 trillion, a P/E ratio of 39.41, a P/E/G ratio of 2.33 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. Apple’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.46 EPS. On average, sell-side analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.42%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

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.