Apple Inc. (NASDAQ:AAPL) Stock Position Raised by IAM Advisory LLC

IAM Advisory LLC grew its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,311 shares of the iPhone maker’s stock after acquiring an additional 272 shares during the period. Apple accounts for approximately 1.7% of IAM Advisory LLC’s portfolio, making the stock its 10th largest holding. IAM Advisory LLC’s holdings in Apple were worth $4,144,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AAPL. Cardinal Capital Management Inc. increased its holdings in shares of Apple by 5,525.0% in the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after purchasing an additional 221 shares during the period. CFS Investment Advisory Services LLC increased its holdings in shares of Apple by 18,263.5% in the first quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock worth $47,000 after purchasing an additional 7,416,445 shares during the period. Spence Asset Management bought a new position in shares of Apple in the second quarter worth $49,000. HBC Financial Services PLLC increased its holdings in shares of Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares during the period. Finally, Emerson Wealth LLC increased its holdings in shares of Apple by 363.6% in the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after purchasing an additional 320 shares during the period. Hedge funds and other institutional investors own 57.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AAPL. Fundamental Research set a $177.07 target price on Apple and gave the company a “buy” rating in a research note on Thursday, August 4th. Bank of America reduced their target price on Apple from $200.00 to $185.00 in a research note on Tuesday, July 26th. KeyCorp increased their target price on Apple from $177.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, August 19th. Itaú Unibanco began 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. Finally, Wedbush increased 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. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $181.68.

Apple Price Performance

Shares of NASDAQ AAPL opened at $150.43 on Friday. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94. The company has a 50 day simple moving average of $160.32 and a two-hundred day simple moving average of $155.78. The company has a market capitalization of $2.42 trillion, a price-to-earnings ratio of 24.82, a P/E/G ratio of 1.99 and a beta of 1.23. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86.

Apple (NASDAQ:AAPLGet Rating) last announced its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The business had revenue of $82.96 billion during the quarter, compared to the consensus estimate of $82.97 billion. During the same quarter last year, the firm earned $1.30 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Analysts expect that Apple Inc. will post 6.1 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s dividend payout ratio is 15.18%.

Insider Buying and Selling at Apple

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

Apple Profile

(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.

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