Apple Inc. $AAPL Shares Bought by Brendel Financial Advisors LLC

Key Points

• Brendel Financial Advisors LLC increased its stake in Apple Inc. by 20.4% in Q2, owning 15,382 shares valued at approximately $3.16 million.
• A variety of hedge funds, including Vanguard and Kingstone Capital Partners, significantly adjusted their Apple holdings, reflecting strong institutional interest in the company.
• Apple's recent quarterly earnings exceeded expectations with $1.57 earnings per share and a revenue of $94.04 billion, alongside a declared quarterly dividend of $0.26 per share.

Brendel Financial Advisors LLC raised its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 20.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,382 shares of the iPhone maker's stock after acquiring an additional 2,601 shares during the quarter. Apple makes up about 1.8% of Brendel Financial Advisors LLC's holdings, making the stock its 23rd largest holding. Brendel Financial Advisors LLC's holdings in Apple were worth $3,156,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Apple by 0.4% in the first quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker's stock valued at $311,157,662,000 after purchasing an additional 5,005,297 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Apple by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock valued at $84,999,145,000 after purchasing an additional 6,307,413 shares in the last quarter. Kingstone Capital Partners Texas LLC grew its position in shares of Apple by 573,627.2% in the second quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker's stock valued at $39,065,374,000 after purchasing an additional 205,656,808 shares in the last quarter. Norges Bank purchased a new stake in shares of Apple in the fourth quarter valued at approximately $46,868,648,000. Finally, Northern Trust Corp grew its position in shares of Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after purchasing an additional 20,079,472 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Activity at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the transaction, the senior vice president directly owned 136,687 shares in the company, valued at $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on AAPL. Citigroup restated a "buy" rating on shares of Apple in a research report on Wednesday, September 10th. Barclays upped their price target on Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. upped their price target on Apple from $255.00 to $280.00 and gave the company an "overweight" rating in a research report on Friday, September 19th. Raymond James Financial restated an "outperform" rating and issued a $240.00 price target (up from $230.00) on shares of Apple in a research report on Friday, August 1st. Finally, DA Davidson restated a "neutral" rating and issued a $250.00 price target on shares of Apple in a research report on Thursday, September 11th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Apple has an average rating of "Moderate Buy" and a consensus target price of $245.66.

Apple Trading Down 0.5%

Shares of Apple stock opened at $255.46 on Monday. The firm has a market capitalization of $3.79 trillion, a price-to-earnings ratio of 38.76, a PEG ratio of 2.65 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. 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 50 day moving average of $228.87 and a 200 day moving average of $213.22.

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 for the quarter, topping the consensus estimate of $1.43 by $0.14. The company had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.40 earnings per share. As a group, research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

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

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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