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Apple Inc. (NASDAQ:AAPL) is SOA Wealth Advisors LLC.'s 2nd Largest Position

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SOA Wealth Advisors LLC. raised its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 12.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 269,615 shares of the iPhone maker's stock after purchasing an additional 30,564 shares during the period. Apple accounts for about 7.0% of SOA Wealth Advisors LLC.'s investment portfolio, making the stock its 2nd largest position. SOA Wealth Advisors LLC.'s holdings in Apple were worth $59,890,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Tallon Kerry Patrick bought a new position in shares of Apple in the 4th quarter valued at approximately $1,877,000. First National Bank of Hutchinson raised its stake in shares of Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after acquiring an additional 6,982 shares in the last quarter. Capital & Planning LLC raised its stake in shares of Apple by 10.7% in the 4th quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker's stock valued at $6,836,000 after acquiring an additional 2,647 shares in the last quarter. ARS Investment Partners LLC raised its stake in shares of Apple by 3.2% in the 4th quarter. ARS Investment Partners LLC now owns 378,612 shares of the iPhone maker's stock valued at $94,812,000 after acquiring an additional 11,705 shares in the last quarter. Finally, Brookmont Capital Management raised its stake in shares of Apple by 14.5% in the 4th quarter. Brookmont Capital Management now owns 1,065 shares of the iPhone maker's stock valued at $267,000 after acquiring an additional 135 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Up 0.0%

Shares of Apple stock opened at $210.01 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The business has a fifty day simple moving average of $203.32 and a 200 day simple moving average of $218.08. The stock has a market cap of $3.14 trillion, a PE ratio of 32.71, a price-to-earnings-growth ratio of 2.34 and a beta of 1.20.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The business had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. During the same period in the previous year, the firm earned $1.53 earnings per share. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. Research analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.50%. Apple's payout ratio is 16.20%.

Apple declared that its board has initiated a share repurchase plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in shares. This repurchase authorization allows the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. KeyCorp raised Apple from an "underweight" rating to a "sector weight" rating in a report on Monday, April 14th. Bank of America reaffirmed a "buy" rating and issued a $235.00 target price on shares of Apple in a report on Tuesday, June 10th. Scotiabank lowered Apple to a "market perform" rating in a report on Friday, May 2nd. Morgan Stanley reaffirmed an "overweight" rating on shares of Apple in a report on Friday, June 13th. Finally, Citigroup reaffirmed a "buy" rating on shares of Apple in a report on Tuesday, June 10th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Apple has a consensus rating of "Moderate Buy" and an average price target of $234.95.

View Our Latest Stock Report on AAPL

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the transaction, the insider directly owned 15,533 shares of the company's stock, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the business's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the transaction, the chief financial officer directly owned 4,569 shares of the company's stock, valued at approximately $941,214. The trade was a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Apple Company 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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Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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.

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