Crewe Advisors LLC Makes New Investment in Apple Inc. $AAPL

Crewe Advisors LLC acquired a new stake in shares of Apple Inc. (NASDAQ:AAPL) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 106,363 shares of the iPhone maker’s stock, valued at approximately $21,823,000. Apple accounts for approximately 3.1% of Crewe Advisors LLC’s holdings, making the stock its 10th largest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ryan Investment Management Inc. purchased a new stake in shares of Apple during the 2nd quarter worth about $31,000. ROSS JOHNSON & Associates LLC raised its holdings in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after buying an additional 180 shares during the period. Nexus Investment Management ULC lifted its position in Apple by 333.3% during the second quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock valued at $53,000 after buying an additional 200 shares in the last quarter. Elite Financial Inc. purchased a new stake in Apple during the first quarter worth approximately $58,000. Finally, LSV Asset Management acquired a new stake in shares of Apple in the fourth quarter worth $65,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Katherine L. Adams sold 47,125 shares of the company’s stock in a transaction dated 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 sale, the senior vice president owned 179,158 shares in the company, valued at approximately $46,005,982.82. This represents a 20.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Deirdre O’brien sold 43,013 shares of the stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the transaction, the senior vice president directly owned 136,687 shares in the company, valued at $35,181,866.93. The trade was a 23.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 228,052 shares of company stock worth $58,604,588. 0.06% of the stock is currently owned by insiders.

Apple Price Performance

Shares of NASDAQ AAPL opened at $268.56 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $277.32. The business has a 50 day moving average price of $258.01 and a two-hundred day moving average price of $228.15. The firm has a market cap of $3.97 trillion, a PE ratio of 40.75, a price-to-earnings-growth ratio of 2.62 and a beta of 1.09.

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

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 10th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, November 10th. Apple’s dividend payout ratio (DPR) is currently 13.92%.

Analysts Set New Price Targets

Several research firms recently weighed in on AAPL. Needham & Company LLC restated a “hold” rating on shares of Apple in a report on Friday, July 25th. UBS Group boosted their price objective on Apple from $220.00 to $280.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Seaport Res Ptn raised Apple to a “strong-buy” rating in a research report on Wednesday, October 1st. Barclays raised their target price on Apple from $180.00 to $230.00 and gave the company an “underweight” rating in a report on Friday, October 31st. Finally, Moffett Nathanson raised Apple from a “sell” rating to a “neutral” rating and set a $225.00 price target on the stock in a research report on Thursday, September 4th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $278.22.

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.