Heritage Financial Services LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 6.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 40,720 shares of the iPhone maker's stock after selling 2,906 shares during the quarter. Apple comprises approximately 0.8% of Heritage Financial Services LLC's holdings, making the stock its 11th largest holding. Heritage Financial Services LLC's holdings in Apple were worth $8,355,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of AAPL. Ryan Investment Management Inc. acquired a new position in shares of Apple in the 2nd quarter valued at approximately $31,000. ROSS JOHNSON & Associates LLC increased its holdings in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after acquiring an additional 180 shares during the last quarter. Elite Financial Inc. bought a new stake in shares of Apple in the 1st quarter valued at approximately $58,000. LSV Asset Management bought a new stake in shares of Apple in the 4th quarter valued at approximately $65,000. Finally, HFM Investment Advisors LLC bought a new stake in shares of Apple in the 1st quarter valued at approximately $99,000. Hedge funds and other institutional investors own 67.73% of the company's stock.
Apple Trading Up 3.9%
Shares of AAPL stock opened at $262.24 on Tuesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $264.38. The stock has a fifty day moving average of $241.83 and a two-hundred day moving average of $217.42. The firm has a market capitalization of $3.89 trillion, a PE ratio of 39.79, a price-to-earnings-growth ratio of 2.46 and a beta of 1.09.
Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. During the same quarter in the previous year, the firm posted $1.40 EPS. The firm's quarterly revenue was up 9.6% on a year-over-year basis. As a group, research analysts expect that Apple Inc. will post 7.28 EPS for the current year.
Apple Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple's dividend payout ratio is 15.78%.
Analyst Upgrades and Downgrades
AAPL has been the subject of a number of research analyst reports. Jefferies Financial Group downgraded Apple from a "hold" rating to an "underperform" rating and lowered their price target for the company from $205.82 to $205.16 in a report on Friday, October 3rd. Phillip Securities downgraded Apple from a "hold" rating to a "moderate sell" rating and set a $200.00 price target for the company. in a report on Thursday, September 11th. Moffett Nathanson upgraded Apple from a "sell" rating to a "neutral" rating and set a $225.00 price target for the company in a report on Thursday, September 4th. Barclays boosted their price target on Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a report on Friday, August 1st. Finally, BMO Capital Markets reiterated a "buy" rating on shares of Apple in a report on Wednesday, August 13th. Four analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Apple presently has a consensus rating of "Moderate Buy" and an average price target of $251.47.
Get Our Latest Stock Report on Apple
Insider Transactions at Apple
In other news, SVP Deirdre O'brien sold 43,013 shares of the company's stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the completion of the sale, the senior vice president owned 136,687 shares in the company, valued at $35,181,866.93. This represents a 23.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Katherine L. Adams sold 47,125 shares of the company's stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the sale, the senior vice president 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 259,121 shares of company stock worth $65,358,981. Corporate insiders own 0.06% of the company's stock.
Apple Profile
(
Free Report)
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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