Apple Inc. $AAPL Holdings Lessened by JLB & Associates Inc.

Key Points

• JLB & Associates Inc. decreased its holdings in Apple Inc. by 10.6%, now owning 147,370 shares valued at approximately $30.2 million.
• Recent analysts' ratings for Apple show a predominantly positive outlook, with Goldman Sachs reaffirming a "buy" rating and a price objective of $266.
• Apple's latest quarterly earnings report revealed earnings per share of $1.57, exceeding estimates, alongside a 9.6% year-over-year revenue increase to $94.04 billion.

JLB & Associates Inc. lowered its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 10.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 147,370 shares of the iPhone maker's stock after selling 17,458 shares during the quarter. Apple accounts for about 4.2% of JLB & Associates Inc.'s investment portfolio, making the stock its 5th largest position. JLB & Associates Inc.'s holdings in Apple were worth $30,236,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in AAPL. Salus Financial Advisors LLC lifted its holdings in shares of Apple by 3.9% in the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker's stock worth $291,000 after buying an additional 49 shares in the last quarter. Sharpepoint LLC increased its position in Apple by 3.5% during the first quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker's stock valued at $322,000 after acquiring an additional 51 shares during the last quarter. Redwood Financial Network Corp increased its position in Apple by 0.6% during the fourth quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker's stock valued at $2,184,000 after acquiring an additional 53 shares during the last quarter. Mission Hills Financial Advisory LLC boosted its stake in shares of Apple by 1.3% during the first quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker's stock valued at $892,000 after purchasing an additional 53 shares during the period. Finally, Virginia Wealth Management Group Inc. boosted its stake in shares of Apple by 0.3% during the second quarter. Virginia Wealth Management Group Inc. now owns 20,946 shares of the iPhone maker's stock valued at $4,298,000 after purchasing an additional 53 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $266.00 price objective on shares of Apple in a research note on Tuesday, August 26th. Citigroup restated a "buy" rating on shares of Apple in a report on Wednesday, September 10th. Morgan Stanley set a $298.00 price target on shares of Apple and gave the stock an "overweight" rating in a report on Thursday, October 2nd. Barclays raised their price objective on shares of Apple from $173.00 to $180.00 and gave the stock an "underweight" rating in a research note on Friday, August 1st. Finally, DA Davidson reiterated a "neutral" rating and set a $250.00 target price on shares of Apple in a research report on Thursday, September 11th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Apple presently has an average rating of "Moderate Buy" and a consensus target price of $248.29.

Insider Transactions at Apple

In related news, CFO Kevan Parekh sold 4,199 shares of the firm's stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $247.39, for a total value of $1,038,790.61. Following the sale, the chief financial officer owned 8,765 shares of the company's stock, valued at $2,168,373.35. This trade represents a 32.39% decrease in their ownership of the stock. 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 47,125 shares of the firm's stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the completion of the sale, the senior vice president directly owned 179,158 shares in the company, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 259,121 shares of company stock valued at $65,358,981. 0.06% of the stock is owned by insiders.

Apple Stock Up 2.0%

Shares of AAPL opened at $252.29 on Friday. The stock has a fifty day simple moving average of $241.13 and a two-hundred day simple moving average of $216.86. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $3.74 trillion, a PE ratio of 38.28, a price-to-earnings-growth ratio of 2.41 and a beta of 1.09. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company's quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the company earned $1.40 EPS. As a group, equities analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

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

Apple 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.

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