Hoertkorn Richard Charles Has $19.86 Million Position in Apple Inc. $AAPL

Key Points

• Hoertkorn Richard Charles reduced its holdings in Apple Inc. by 2.4% during the second quarter, owning 96,779 shares valued at approximately $19.86 million.
• Apple recently announced a quarterly dividend of $0.26 per share, resulting in an annual yield of 0.4%.
• Institutional investors currently own 67.73% of Apple's stock, with recent activity including a significant 1,800% increase in holdings by ROSS JOHNSON & Associates LLC.

Hoertkorn Richard Charles lessened its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,779 shares of the iPhone maker's stock after selling 2,343 shares during the quarter. Apple comprises 8.4% of Hoertkorn Richard Charles' investment portfolio, making the stock its 3rd biggest holding. Hoertkorn Richard Charles' holdings in Apple were worth $19,856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. First National Bank of Hutchinson boosted its holdings in Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock worth $8,845,000 after buying an additional 6,982 shares during the period. Eagle Capital Management LLC boosted its holdings in Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock valued at $13,544,000 after purchasing an additional 272 shares during the period. Brighton Jones LLC boosted its holdings in Apple by 14.8% in the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock valued at $134,554,000 after purchasing an additional 69,207 shares during the period. Revolve Wealth Partners LLC boosted its holdings in Apple by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock valued at $16,742,000 after purchasing an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE boosted its holdings in Apple by 2.4% in the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock valued at $12,587,000 after purchasing an additional 1,155 shares during the period. Institutional investors own 67.73% of the company's stock.

Apple Stock Performance

Shares of AAPL traded up $7.62 during mid-day trading on Friday, hitting $245.50. 163,435,991 shares of the company traded hands, compared to its average volume of 47,568,860. 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 price of $224.35 and a two-hundred day moving average price of $212.26. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The stock has a market cap of $3.64 trillion, a price-to-earnings ratio of 37.25, a P/E/G ratio of 2.55 and a beta of 1.11.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS 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 business had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. During the same period in the prior year, the company earned $1.40 earnings per share. The firm's revenue was up 9.6% on a year-over-year basis. Equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple's dividend payout ratio is currently 15.78%.

Insider Buying and Selling

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction that occurred 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 transaction, the senior vice president directly owned 136,687 shares in the company, valued at $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 is available through this hyperlink. Corporate insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Apple from $255.00 to $280.00 and gave the company an "overweight" rating in a research report on Friday. Sanford C. Bernstein assumed coverage on shares of Apple in a research report on Monday, September 15th. They set an "outperform" rating and a $290.00 price objective on the stock. BMO Capital Markets restated a "buy" rating on shares of Apple in a research report on Wednesday, August 13th. Loop Capital lowered their price objective on shares of Apple from $230.00 to $226.00 and set a "hold" rating on the stock in a research report on Thursday, August 21st. Finally, Wedbush restated an "outperform" rating and set a $270.00 price objective on shares of Apple in a research report on Tuesday, September 9th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $242.74.

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.