5th Street Advisors LLC Has $3.34 Million Stock Position in Apple Inc. $AAPL

Key Points

• 5th Street Advisors LLC increased its stake in Apple Inc. by 27.4% during the 1st quarter, now holding 15,038 shares valued at approximately $3.34 million, representing about 1.6% of their total portfolio.
• Apple's quarterly earnings exceeded analysts' expectations, reporting $1.57 EPS on revenue of $94.04 billion, which was a 9.6% year-over-year increase.
• The company declared a quarterly dividend of $0.26 per share, which was paid on August 14th, reflecting an annualized rate of $1.04 and a yield of 0.4%.

5th Street Advisors LLC grew its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 27.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 15,038 shares of the iPhone maker's stock after acquiring an additional 3,238 shares during the quarter. Apple comprises 1.6% of 5th Street Advisors LLC's investment portfolio, making the stock its 19th biggest holding. 5th Street Advisors LLC's holdings in Apple were worth $3,340,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of AAPL. Conquis Financial LLC acquired a new stake in shares of Apple during the fourth quarter worth $63,000. LSV Asset Management bought a new stake in Apple in the fourth quarter valued at $65,000. Elite Financial Inc. acquired a new stake in shares of Apple in the 1st quarter worth approximately $58,000. Pillar Financial Advisors LLC acquired a new stake in Apple during the fourth quarter valued at approximately $82,000. Finally, Sellwood Investment Partners LLC purchased a new stake in shares of Apple in the fourth quarter valued at $147,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AAPL. Morgan Stanley set a $240.00 price objective on Apple and gave the company an "overweight" rating in a research report on Wednesday, September 3rd. Citigroup restated a "buy" rating on shares of Apple in a research note on Wednesday. Evercore ISI lifted their target price on Apple from $250.00 to $260.00 and gave the stock an "outperform" rating in a report on Wednesday. DA Davidson reissued a "neutral" rating and set a $250.00 price objective on shares of Apple in a report on Thursday. Finally, JPMorgan Chase & Co. raised their target price on Apple from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Apple currently has a consensus rating of "Moderate Buy" and a consensus price target of $240.80.

Insider Buying and Selling

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the sale, the senior vice president directly owned 136,687 shares in the company, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.06% of the company's stock.

Apple Price Performance

Shares of NASDAQ:AAPL traded up $4.04 during mid-day trading on Friday, reaching $234.07. The stock had a trading volume of 55,768,555 shares, compared to its average volume of 45,223,864. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a market cap of $3.47 trillion, a P/E ratio of 35.52, a price-to-earnings-growth ratio of 2.39 and a beta of 1.11. The business's 50 day moving average price is $221.50 and its 200 day moving average price is $212.39.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. During the same quarter in the prior year, the company posted $1.40 earnings per share. Apple's revenue for the quarter was up 9.6% compared to the same quarter last year. Research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were given a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple's dividend payout ratio (DPR) is 15.78%.

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.