Apollon Financial LLC Boosts Stock Position in Apple Inc. $AAPL

Key Points

• Apollon Financial LLC increased its stake in Apple Inc. by 4.6% during Q1, now holding 68,021 shares valued at approximately $15.1 million.
• Apple's recent quarterly earnings exceeded expectations, with earnings per share of $1.57 and revenue of $94.04 billion, marking a 9.6% year-over-year growth.
• The company recently announced a quarterly dividend of $0.26 per share, resulting in an annualized yield of 0.4%.

Apollon Financial LLC boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 68,021 shares of the iPhone maker's stock after purchasing an additional 3,009 shares during the quarter. Apple makes up approximately 3.6% of Apollon Financial LLC's holdings, making the stock its 3rd largest holding. Apollon Financial LLC's holdings in Apple were worth $15,109,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Advanced Portfolio Management LLC grew its position in shares of Apple by 0.3% in the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock worth $3,260,000 after acquiring an additional 47 shares in the last quarter. Salus Financial Advisors LLC grew its position in shares of Apple by 3.9% in the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker's stock worth $291,000 after acquiring an additional 49 shares in the last quarter. Disciplined Investments LLC grew its position in shares of Apple by 0.7% in the 4th quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker's stock worth $1,794,000 after acquiring an additional 51 shares in the last quarter. Sharpepoint LLC grew its position in shares of Apple by 3.5% in the 1st quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker's stock worth $322,000 after acquiring an additional 51 shares in the last quarter. Finally, Mission Hills Financial Advisory LLC grew its position in shares of Apple by 1.3% in the 1st quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker's stock worth $892,000 after acquiring an additional 53 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Apple

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

Apple Stock Performance

AAPL stock traded down $0.42 during trading on Monday, reaching $232.14. 39,382,353 shares of the company's stock were exchanged, compared to its average volume of 55,684,536. 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 1-year low of $169.21 and a 1-year high of $260.10. The company's fifty day moving average price is $215.79 and its 200-day moving average price is $212.71. The firm has a market cap of $3.45 trillion, a PE ratio of 35.23, a P/E/G ratio of 2.42 and a beta of 1.11.

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

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple's payout ratio is currently 15.78%.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several research reports. Monness Crespi & Hardt lifted their target price on Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Loop Capital reduced their price objective on Apple from $230.00 to $226.00 and set a "hold" rating for the company in a research report on Thursday, August 21st. JPMorgan Chase & Co. boosted their price objective on Apple from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. UBS Group boosted their price objective on Apple from $210.00 to $220.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Finally, BMO Capital Markets restated a "buy" rating on shares of Apple in a research report on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $237.37.

Apple Company Profile

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.