Summit Place Financial Advisors LLC Has $7.22 Million Stock Position in Apple Inc. $AAPL

Summit Place Financial Advisors LLC raised its holdings in Apple Inc. (NASDAQ:AAPL) by 4.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,176 shares of the iPhone maker’s stock after purchasing an additional 1,349 shares during the period. Apple accounts for about 3.6% of Summit Place Financial Advisors LLC’s holdings, making the stock its 3rd biggest position. Summit Place Financial Advisors LLC’s holdings in Apple were worth $7,217,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of AAPL. Ryan Investment Management Inc. purchased a new position in shares of Apple in the second quarter valued at $31,000. ROSS JOHNSON & Associates LLC lifted its holdings in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares in the last quarter. Elite Financial Inc. bought a new position in Apple in the 1st quarter worth about $58,000. LSV Asset Management purchased a new position in Apple during the 4th quarter valued at about $65,000. Finally, HFM Investment Advisors LLC bought a new stake in shares of Apple during the first quarter valued at about $99,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Down 0.1%

AAPL opened at $269.77 on Friday. The business’s fifty day simple moving average is $251.53 and its 200 day simple moving average is $224.02. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $277.32. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The stock has a market cap of $4.00 trillion, a PE ratio of 40.94, a P/E/G ratio of 2.62 and a beta of 1.08.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. The firm had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.64 EPS. As a group, research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Monday, November 10th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, November 10th. Apple’s payout ratio is presently 13.92%.

Insider Buying and Selling at Apple

In related news, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the transaction, the senior vice president owned 179,158 shares in the company, valued at $46,005,982.82. This trade represents a 20.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevan Parekh sold 4,199 shares of the business’s stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the completion of the sale, the chief financial officer directly owned 8,765 shares of the company’s stock, valued at $2,168,373.35. This represents a 32.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 224,300 shares of company stock worth $57,586,933 in the last quarter. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Seaport Res Ptn upgraded shares of Apple to a “strong-buy” rating in a research report on Wednesday, October 1st. Wells Fargo & Company set a $300.00 target price on shares of Apple and gave the stock an “overweight” rating in a research note on Friday, October 31st. Melius Research set a $345.00 price target on shares of Apple in a research report on Friday, October 31st. BMO Capital Markets reaffirmed a “buy” rating on shares of Apple in a report on Wednesday, August 13th. Finally, Robert W. Baird set a $300.00 price objective on Apple in a research note on Friday, October 31st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $278.22.

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.