IFP Advisors Inc Has $94.25 Million Holdings in Apple Inc. $AAPL

IFP Advisors Inc boosted its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 25.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 424,273 shares of the iPhone maker's stock after buying an additional 85,862 shares during the quarter. Apple makes up about 2.9% of IFP Advisors Inc's holdings, making the stock its biggest position. IFP Advisors Inc's holdings in Apple were worth $94,254,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Aspen Capital Management LLC purchased a new stake in Apple in the 1st quarter worth approximately $4,861,000. OneAscent Financial Services LLC increased its stake in shares of Apple by 127.1% during the 1st quarter. OneAscent Financial Services LLC now owns 149,424 shares of the iPhone maker's stock worth $33,232,000 after purchasing an additional 83,636 shares during the last quarter. Morse Asset Management Inc increased its stake in shares of Apple by 1.4% during the 1st quarter. Morse Asset Management Inc now owns 40,165 shares of the iPhone maker's stock worth $8,922,000 after purchasing an additional 555 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC increased its stake in shares of Apple by 10.9% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 15,312 shares of the iPhone maker's stock worth $3,401,000 after purchasing an additional 1,511 shares during the last quarter. Finally, Elyxium Wealth LLC increased its stake in shares of Apple by 12.0% during the 1st quarter. Elyxium Wealth LLC now owns 134,874 shares of the iPhone maker's stock worth $29,960,000 after purchasing an additional 14,496 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Stock Performance

Apple stock traded down $0.67 during mid-day trading on Thursday, reaching $237.81. The company had a trading volume of 23,367,216 shares, compared to its average volume of 56,619,613. 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 52 week low of $169.21 and a 52 week high of $260.10. The company has a 50 day moving average of $217.73 and a 200-day moving average of $212.92. The firm has a market cap of $3.53 trillion, a price-to-earnings ratio of 36.11, a PEG ratio of 2.42 and a beta of 1.11.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results 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. 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 the consensus estimate of $88.64 billion. During the same period in the prior year, the firm earned $1.40 EPS. The business's revenue was up 9.6% on a year-over-year basis. On average, sell-side analysts expect 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. Shareholders 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 yield of 0.4%. Apple's dividend payout ratio is 15.78%.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the sale, the senior vice president directly owned 136,687 shares of the company's stock, valued at $30,508,538.40. This represents a 20.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on AAPL. Wedbush restated an "outperform" rating and set a $270.00 price target on shares of Apple in a research note on Wednesday. DA Davidson restated a "buy" rating and set a $250.00 price target on shares of Apple in a research note on Friday, August 1st. Rosenblatt Securities restated a "neutral" rating and set a $217.00 price target on shares of Apple in a research note on Tuesday, July 29th. Citigroup raised their target price on shares of Apple from $240.00 to $245.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Finally, Moffett Nathanson upgraded shares of Apple from a "sell" rating to a "neutral" rating and set a $225.00 target price on the stock in a research note on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $239.05.

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.