Apple Inc. (NASDAQ:AAPL) Stock Holdings Lifted by Independent Advisor Alliance

Independent Advisor Alliance lifted its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 6.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,024,124 shares of the iPhone maker’s stock after buying an additional 65,358 shares during the period. Apple makes up about 8.6% of Independent Advisor Alliance’s portfolio, making the stock its largest position. Independent Advisor Alliance’s holdings in Apple were worth $178,822,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Elk River Wealth Management LLC boosted its position in Apple by 49.0% in the first quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock worth $29,181,000 after purchasing an additional 54,989 shares during the last quarter. Piscataqua Savings Bank boosted its position in Apple by 1.5% in the first quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock worth $8,302,000 after purchasing an additional 684 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in Apple in the first quarter worth $171,000. Primoris Wealth Advisors LLC bought a new stake in shares of Apple in the fourth quarter valued at $4,282,000. Finally, Chico Wealth RIA bought a new stake in shares of Apple in the first quarter valued at $7,794,000. Hedge funds and other institutional investors own 57.72% of the company’s stock.

Insider Activity at Apple

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the transaction, the senior vice president now owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the transaction, the senior vice president now owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total value of $16,923,788.25. Following the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AAPL shares. Wells Fargo & Company lowered their target price on Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 20th. Itau BBA Securities started coverage on Apple in a research note on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 target price on the stock. Wedbush boosted their target price on Apple from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, August 17th. Barclays lowered their target price on Apple from $167.00 to $166.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 13th. Finally, Oppenheimer reiterated an “outperform” rating and set a $190.00 price objective on shares of Apple in a research note on Wednesday, June 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $181.18.

Apple Trading Down 1.5 %

Shares of AAPL stock opened at $158.91 on Wednesday. The stock has a market capitalization of $2.55 trillion, a PE ratio of 26.22, a P/E/G ratio of 2.12 and a beta of 1.23. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The business has a 50-day moving average of $155.68 and a 200 day moving average of $156.99. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82.

Apple (NASDAQ:AAPLGet Rating) last issued its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.06. The company had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. Apple’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.30 EPS. As a group, sell-side analysts anticipate that Apple Inc. will post 6.1 earnings per share for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s dividend payout ratio is presently 15.18%.

About Apple

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

Further Reading

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPLGet Rating).



Receive News & Ratings for Apple Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Apple and related companies with MarketBeat.com’s FREE daily email newsletter.

Leave a Reply

Your email address will not be published. Required fields are marked *