Apple Inc. $AAPL is Register Financial Advisors LLC's 2nd Largest Position

Key Points

• Register Financial Advisors LLC increased its stake in Apple Inc. by 20.6%, making Apple its 2nd largest holding, with 40,023 shares valued at approximately $8.21 million.
• CEO Timothy D. Cook recently sold 129,963 shares of Apple stock for over $33 million, representing a 3.81% decrease in his ownership.
• Apple's recent earnings report showed an EPS of $1.57, exceeding analysts' estimates, with a year-over-year revenue increase of 9.6% to $94.04 billion.

Register Financial Advisors LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 20.6% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 40,023 shares of the iPhone maker's stock after acquiring an additional 6,826 shares during the period. Apple makes up approximately 3.6% of Register Financial Advisors LLC's holdings, making the stock its 2nd largest holding. Register Financial Advisors LLC's holdings in Apple were worth $8,212,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Advanced Portfolio Management LLC increased its position in shares of Apple by 0.3% during the fourth 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 raised its holdings 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 purchasing an additional 49 shares during the period. Sharpepoint LLC raised its holdings 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 purchasing an additional 51 shares during the period. Redwood Financial Network Corp raised its holdings in Apple by 0.6% during the 4th 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 period. Finally, Mission Hills Financial Advisory LLC raised its holdings in Apple by 1.3% during the 1st quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker's stock valued at $892,000 after acquiring an additional 53 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Timothy D. Cook sold 129,963 shares of Apple stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the completion of the transaction, the chief executive officer directly owned 3,280,295 shares of the company's stock, valued at approximately $842,412,558.95. The trade was a 3.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 254,922 shares of company stock valued at $64,320,190. Company insiders own 0.06% of the company's stock.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $254.04 on Friday. 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 company has a market cap of $3.77 trillion, a P/E ratio of 38.55, a P/E/G ratio of 2.51 and a beta of 1.09. The firm's fifty day moving average is $236.75 and its two-hundred day moving average is $215.77. 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 posted its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $88.64 billion. During the same period in the previous year, the firm posted $1.40 EPS. The business's quarterly revenue was up 9.6% on a year-over-year basis. As a group, analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid a dividend of $0.26 per share. 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 payout ratio is currently 15.78%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Citigroup reaffirmed a "buy" rating on shares of Apple in a report on Wednesday, September 10th. The Goldman Sachs Group reiterated a "buy" rating and set a $266.00 target price on shares of Apple in a report on Tuesday, August 26th. Evercore ISI set a $290.00 price target on shares of Apple and gave the stock an "outperform" rating in a research note on Friday, September 26th. Morgan Stanley set a $298.00 target price on shares of Apple and gave the company an "overweight" rating in a research note on Thursday, October 2nd. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research note on Friday, July 25th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Apple currently has a consensus rating of "Moderate Buy" and an average price target of $248.29.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.