Transcend Capital Advisors LLC Has $88.40 Million Position in Apple Inc. $AAPL

Transcend Capital Advisors LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 7.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 430,882 shares of the iPhone maker’s stock after selling 32,719 shares during the period. Apple accounts for 6.7% of Transcend Capital Advisors LLC’s portfolio, making the stock its biggest holding. Transcend Capital Advisors LLC’s holdings in Apple were worth $88,404,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ryan Investment Management Inc. bought a new stake in Apple in the 2nd quarter worth approximately $31,000. ROSS JOHNSON & Associates LLC lifted its position in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares during the last quarter. Nexus Investment Management ULC grew its stake in shares of Apple by 333.3% in the 2nd quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock worth $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 valued at approximately $58,000. Finally, LSV Asset Management bought a new stake in shares of Apple in the 4th quarter valued at approximately $65,000. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on AAPL shares. Loop Capital upgraded Apple from a “hold” rating to a “buy” rating and increased their price target for the company from $226.00 to $315.00 in a report on Monday, October 20th. Argus set a $325.00 target price on shares of Apple and gave the company a “buy” rating in a research note on Friday, October 31st. Weiss Ratings restated a “buy (b-)” rating on shares of Apple in a report on Tuesday. BMO Capital Markets reiterated a “buy” rating on shares of Apple in a report on Wednesday, August 13th. Finally, Bank of America increased their price objective on shares of Apple from $270.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. 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 data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average price target of $278.22.

Apple Trading Up 0.4%

NASDAQ AAPL opened at $278.63 on Friday. The company has a 50 day moving average price of $263.27 and a 200 day moving average price of $231.59. The firm has a market cap of $4.12 trillion, a PE ratio of 42.28, a price-to-earnings-growth ratio of 2.62 and a beta of 1.09. 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 52 week low of $169.21 and a 52 week high of $280.38.

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

Apple Announces Dividend

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

Insider Transactions at Apple

In related news, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction that occurred 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 completion of the sale, the senior vice president directly owned 179,158 shares in the company, valued at $46,005,982.82. This trade represents a 20.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevan Parekh sold 4,199 shares of the company’s stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the transaction, the chief financial officer owned 8,765 shares in the company, valued at $2,168,373.35. The trade was a 32.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 228,052 shares of company stock worth $58,604,588 over the last ninety days. 0.06% of the stock is currently owned by insiders.

About Apple

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.