Apple Inc. $AAPL is Integrity Alliance LLC.'s 4th Largest Position

Key Points

• Integrity Alliance LLC increased its stake in Apple Inc. by 567.0% during the first quarter, owning 322,317 shares valued at approximately $71.6 million.
• Several hedge funds, including Ransom Advisory Ltd and Anchor Investment Management LLC, have also adjusted their positions in Apple, reflecting a growing institutional interest in the stock, which is 67.73% owned by institutional investors.
• Recent analyst upgrades have led to a revised price target for Apple shares, with estimates ranging up to $290.00, indicating a consensus rating of "Moderate Buy."

Integrity Alliance LLC. grew its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 567.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 322,317 shares of the iPhone maker's stock after buying an additional 273,995 shares during the period. Apple accounts for approximately 2.8% of Integrity Alliance LLC.'s portfolio, making the stock its 4th largest holding. Integrity Alliance LLC.'s holdings in Apple were worth $71,596,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AAPL. First National Bank of Hutchinson increased its position 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 valued at $8,845,000 after buying an additional 6,982 shares during the period. Eagle Capital Management LLC increased its position in shares of Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock valued at $13,544,000 after buying an additional 272 shares during the period. Brighton Jones LLC increased its position in shares of Apple by 14.8% during the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock valued at $134,554,000 after buying an additional 69,207 shares during the period. Revolve Wealth Partners LLC increased its position in shares of Apple by 4.2% in 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 increased its position in shares of Apple by 2.4% in 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. 67.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on AAPL shares. Needham & Company LLC restated a "hold" rating on shares of Apple in a research report on Friday, July 25th. The Goldman Sachs Group restated a "buy" rating and issued a $266.00 price objective on shares of Apple in a research report on Tuesday, August 26th. Melius Research set a $290.00 price objective on shares of Apple and gave the stock a "buy" rating in a research report on Wednesday. DA Davidson restated a "neutral" rating and issued a $250.00 price objective on shares of Apple in a research report on Thursday. Finally, Rosenblatt Securities upped their price objective on shares of Apple from $223.00 to $241.00 and gave the stock a "neutral" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $240.80.

Insider Buying and Selling at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of the stock in a transaction that occurred 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 sale, the senior vice president owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.06% of the company's stock.

Apple Price Performance

NASDAQ AAPL traded up $4.04 on Friday, reaching $234.07. 55,768,555 shares of the company's stock traded hands, compared to its average volume of 45,223,864. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a 50-day simple moving average of $221.50 and a 200 day simple moving average of $212.20. The stock has a market cap of $3.47 trillion, a PE ratio of 35.52, a P/E/G ratio of 2.39 and a beta of 1.11.

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 firm 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 business's quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple's dividend payout ratio is 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.