Apple Inc. $AAPL is Baugh & Associates LLC's 2nd Largest Position

Key Points

• Baugh & Associates LLC reduced its stake in Apple Inc. by 4.7%, holding 66,574 shares, representing 6.5% of its investment portfolio, valued at approximately $12.63 million.
• Apple reported strong earnings with a net revenue of $94.04 billion, surpassing analysts' expectations, and an EPS of $1.57 for the last quarter.
• Analysts have set new price targets for Apple, with estimates ranging from $220 to $290, reflecting varying ratings from different brokerages.

Baugh & Associates LLC lessened its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 66,574 shares of the iPhone maker's stock after selling 3,262 shares during the quarter. Apple comprises 6.5% of Baugh & Associates LLC's investment portfolio, making the stock its 2nd biggest holding. Baugh & Associates LLC's holdings in Apple were worth $12,634,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AAPL. First National Bank of Hutchinson grew its holdings in shares of Apple by 24.6% during the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock worth $8,845,000 after buying an additional 6,982 shares during the last quarter. Eagle Capital Management LLC lifted its position in Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock worth $13,544,000 after acquiring an additional 272 shares during the period. Brighton Jones LLC lifted its position in Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock worth $134,554,000 after acquiring an additional 69,207 shares during the period. Revolve Wealth Partners LLC raised its stake in shares of Apple by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock worth $16,742,000 after purchasing an additional 2,695 shares during the last quarter. Finally, Highview Capital Management LLC DE raised its stake in shares of Apple by 2.4% during the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock worth $12,587,000 after purchasing an additional 1,155 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Stock Performance

Apple stock opened at $254.63 on Wednesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a fifty day moving average of $230.51 and a two-hundred day moving average of $213.80. The company has a market capitalization of $3.78 trillion, a price-to-earnings ratio of 38.64, a PEG ratio of 2.64 and a beta of 1.11. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping 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 firm had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. During the same period in the previous year, the company earned $1.40 EPS. Apple's revenue for the quarter was up 9.6% on a year-over-year basis. On average, analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have issued reports on AAPL. Evercore ISI set a $290.00 target price on shares of Apple and gave the company an "outperform" rating in a report on Friday. UBS Group restated a "neutral" rating on shares of Apple in a research report on Monday, September 8th. HSBC set a $220.00 price objective on shares of Apple and gave the company a "hold" rating in a research report on Monday, September 8th. Rosenblatt Securities increased their target price on Apple from $223.00 to $241.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 10th. Finally, Sanford C. Bernstein initiated coverage on Apple in a research note on Monday, September 15th. They set an "outperform" rating and a $290.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and an average price target of $245.51.

Insider Buying and Selling

In other 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 transaction, the senior vice president directly 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.06% of the company's stock.

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.

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