SRS Capital Advisors Inc. acquired a new position in shares of Apple Inc. (NASDAQ:AAPL) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 7,087 shares of the iPhone maker’s stock, valued at approximately $1,403,000. Apple comprises about 0.5% of SRS Capital Advisors Inc.’s holdings, making the stock its 27th biggest position.
A number of other institutional investors have also recently made changes to their positions in the business. Semmax Financial Advisors Inc. acquired a new position in shares of Apple during the 4th quarter worth $50,000. Avondale Wealth Management grew its stake in shares of Apple by 25.4% during the 2nd quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock worth $63,000 after purchasing an additional 64 shares during the period. NuWave Investment Management LLC grew its stake in shares of Apple by 2,245.0% during the 2nd quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock worth $93,000 after purchasing an additional 449 shares during the period. Horan Securities Inc. grew its stake in shares of Apple by 64.2% during the 2nd quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock worth $112,000 after purchasing an additional 221 shares during the period. Finally, C M Bidwell & Associates Ltd. grew its stake in shares of Apple by 339.1% during the 2nd quarter. C M Bidwell & Associates Ltd. now owns 764 shares of the iPhone maker’s stock worth $151,000 after purchasing an additional 590 shares during the period. Institutional investors own 58.77% of the company’s stock.
AAPL has been the topic of a number of research reports. ValuEngine raised shares of Apple from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Cowen set a $250.00 price objective on shares of Apple and gave the company a “buy” rating in a research note on Wednesday, August 21st. Canaccord Genuity reissued a “buy” rating and issued a $240.00 price objective (up from $202.00) on shares of Apple in a research note on Wednesday, July 31st. Credit Suisse Group set a $209.00 price objective on shares of Apple and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Finally, Evercore ISI initiated coverage on shares of Apple in a research note on Thursday, June 6th. They issued an “outperform” rating and a $205.00 price objective on the stock. Four analysts have rated the stock with a sell rating, nineteen have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Apple has a consensus rating of “Hold” and a consensus target price of $218.18.
In other news, insider Chris Kondo sold 4,376 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $217.47, for a total transaction of $951,648.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 265,160 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $206.17, for a total transaction of $54,668,037.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 304,536 shares of company stock worth $62,894,611. Insiders own 0.05% of the company’s stock.
Shares of AAPL stock traded down $4.02 during trading hours on Friday, hitting $219.07. 1,084,421 shares of the company were exchanged, compared to its average volume of 24,353,276. The firm has a market cap of $979.31 billion, a PE ratio of 18.38, a PEG ratio of 1.79 and a beta of 1.24. Apple Inc. has a 1 year low of $142.00 and a 1 year high of $233.47. The company has a quick ratio of 1.47, a current ratio of 1.50 and a debt-to-equity ratio of 0.88. The firm has a fifty day moving average of $207.16 and a 200 day moving average of $196.48.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.10 by $0.08. The business had revenue of $53.81 billion for the quarter, compared to analyst estimates of $53.39 billion. Apple had a net margin of 21.50% and a return on equity of 52.13%. The company’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.34 EPS. Analysts expect that Apple Inc. will post 11.68 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a dividend of $0.77 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.08 annualized dividend and a dividend yield of 1.41%. Apple’s payout ratio is currently 25.86%.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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