Anderson Financial Strategies LLC Buys 2,857 Shares of Apple Inc. $AAPL

Anderson Financial Strategies LLC raised its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 5,830.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,906 shares of the iPhone maker's stock after purchasing an additional 2,857 shares during the period. Apple accounts for approximately 0.4% of Anderson Financial Strategies LLC's portfolio, making the stock its 28th largest holding. Anderson Financial Strategies LLC's holdings in Apple were worth $646,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in AAPL. ROSS JOHNSON & Associates LLC increased its stake in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after purchasing an additional 180 shares in the last quarter. Life Planning Partners Inc purchased a new stake in shares of Apple during the 4th quarter valued at approximately $47,000. Elite Financial Inc. bought a new position in Apple in the 1st quarter worth approximately $58,000. Conquis Financial LLC purchased a new position in Apple in the 4th quarter valued at approximately $63,000. Finally, LSV Asset Management purchased a new position in Apple in the 4th quarter valued at approximately $65,000. 67.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AAPL. Loop Capital dropped their target price on Apple from $230.00 to $226.00 and set a "hold" rating on the stock in a research report on Thursday, August 21st. The Goldman Sachs Group reiterated a "buy" rating and set a $266.00 price objective on shares of Apple in a research note on Tuesday, August 26th. Needham & Company LLC restated a "hold" rating on shares of Apple in a research note on Friday, July 25th. Citigroup reaffirmed a "buy" rating on shares of Apple in a report on Wednesday. Finally, Morgan Stanley set a $240.00 price target on shares of Apple and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and an average price target of $240.80.

Apple Stock Up 1.8%

Shares of NASDAQ AAPL opened at $234.07 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The business has a 50-day moving average of $221.50 and a 200-day moving average of $212.02. The firm has a market capitalization of $3.47 trillion, a price-to-earnings ratio of 35.52, a PEG ratio of 2.43 and a beta of 1.11. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. During the same period in the previous year, the business posted $1.40 earnings per share. Apple's revenue for the quarter was up 9.6% 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 announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were given a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple's payout ratio is 15.78%.

Insider Buying and Selling

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of Apple stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the sale, the senior vice president owned 136,687 shares of the company's stock, valued at $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.06% of the stock is currently owned by corporate 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.

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