Armstrong Henry H Associates Inc. Has $12.57 Million Stake in Apple Inc. $AAPL

Key Points

• Armstrong Henry H Associates Inc. reduced its holdings in Apple Inc. by 2.9% during the second quarter, making Apple its 9th largest position, holding 61,276 shares valued at $12.57 million.
• Insider trading activity saw SVP Deirdre O'Brien sell 34,821 shares of Apple at an average price of $223.20, representing a 20.30% decrease in her ownership.
• Apple's recent quarterly earnings beat expectations, reporting $1.57 EPS with a revenue of $94.04 billion, indicating a 9.6% increase compared to the previous year.

Armstrong Henry H Associates Inc. trimmed its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,276 shares of the iPhone maker's stock after selling 1,818 shares during the period. Apple makes up about 1.2% of Armstrong Henry H Associates Inc.'s portfolio, making the stock its 9th largest holding. Armstrong Henry H Associates Inc.'s holdings in Apple were worth $12,572,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of AAPL. ROSS JOHNSON & Associates LLC boosted its holdings in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after acquiring an additional 180 shares during the period. Life Planning Partners Inc acquired a new stake in shares of Apple during the fourth quarter worth approximately $47,000. Elite Financial Inc. acquired a new stake in shares of Apple during the first quarter worth approximately $58,000. Conquis Financial LLC acquired a new stake in shares of Apple in the fourth quarter valued at approximately $63,000. Finally, LSV Asset Management acquired a new stake in shares of Apple in the fourth quarter valued at approximately $65,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of recent analyst reports. Moffett Nathanson raised shares of Apple from a "sell" rating to a "neutral" rating and set a $225.00 price target on the stock in a research report on Thursday, September 4th. Tigress Financial upped their price target on shares of Apple from $300.00 to $305.00 and gave the company a "strong-buy" rating in a research note on Wednesday. Evercore ISI upped their price target on shares of Apple from $250.00 to $260.00 and gave the stock an "outperform" rating in a report on Wednesday, September 10th. Sanford C. Bernstein started coverage on shares of Apple in a research note on Monday. They set an "outperform" rating and a $290.00 price target for the company. Finally, Wedbush restated an "outperform" rating and issued a $270.00 price target on shares of Apple in a report on Tuesday, September 9th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Apple has a consensus rating of "Moderate Buy" and an average price target of $242.74.

Insider Activity

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction that occurred 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 owned 136,687 shares in the company, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.06% of the company's stock.

Apple Trading Up 3.2%

NASDAQ AAPL traded up $7.62 during trading on Friday, hitting $245.50. The company had a trading volume of 163,435,991 shares, compared to its average volume of 47,568,860. 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 company's fifty day moving average is $224.35 and its 200-day moving average is $212.42. The company has a market cap of $3.64 trillion, a price-to-earnings ratio of 37.25, a price-to-earnings-growth ratio of 2.47 and a beta of 1.11. Apple Inc. has a one year low of $169.21 and a one year high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. Apple's revenue was up 9.6% compared to the same quarter last year. During the same period last year, the business earned $1.40 EPS. On average, sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were issued a $0.26 dividend. The ex-dividend date of this dividend 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 presently 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.