Curran Financial Partners LLC Grows Position in Apple Inc. $AAPL

Key Points

• Curran Financial Partners LLC increased its stake in Apple Inc. by 7.2% during the second quarter, owning a total of 28,525 shares valued at approximately $5.85 million.
• Apple reported a quarterly earnings per share of $1.57, exceeding analysts' expectations, with a total revenue of $94.04 billion, a year-over-year increase of 9.6%.
• The company has a market capitalization of $3.90 trillion and recently announced a quarterly dividend of $0.26 per share, reflecting a 0.4% yield.

Curran Financial Partners LLC boosted its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 7.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,525 shares of the iPhone maker's stock after purchasing an additional 1,915 shares during the quarter. Apple comprises 1.3% of Curran Financial Partners LLC's portfolio, making the stock its 23rd largest position. Curran Financial Partners LLC's holdings in Apple were worth $5,852,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Salus Financial Advisors LLC grew its position in shares of Apple by 3.9% during the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker's stock worth $291,000 after acquiring an additional 49 shares during the last quarter. SigFig Wealth Management LLC grew its position in shares of Apple by 2.8% during the second quarter. SigFig Wealth Management LLC now owns 1,830 shares of the iPhone maker's stock worth $368,000 after acquiring an additional 50 shares during the last quarter. Sharpepoint LLC grew its position in shares of Apple by 3.5% during the first quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker's stock worth $322,000 after acquiring an additional 51 shares during the last quarter. Redwood Financial Network Corp grew its position in shares of Apple by 0.6% during the fourth quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker's stock worth $2,184,000 after acquiring an additional 53 shares during the last quarter. Finally, Mission Hills Financial Advisory LLC grew its position in shares of Apple by 1.3% during the first quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker's stock worth $892,000 after acquiring an additional 53 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

Shares of NASDAQ AAPL opened at $262.82 on Friday. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $265.29. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $3.90 trillion, a price-to-earnings ratio of 39.88, a PEG ratio of 2.52 and a beta of 1.09. The firm has a 50-day moving average of $244.15 and a two-hundred day moving average of $219.18.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. During the same period in the prior year, the firm earned $1.40 earnings per share. The business's quarterly revenue was up 9.6% on a year-over-year basis. As a group, analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Insider Activity

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of the company's stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the completion of the sale, the senior vice president directly owned 179,158 shares of the company's stock, valued at approximately $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevan Parekh sold 4,199 shares of the company's stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the sale, the chief financial officer directly owned 8,765 shares of the company's stock, valued at $2,168,373.35. This represents a 32.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 259,121 shares of company stock valued at $65,358,981 over the last ninety days. Corporate insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AAPL. JPMorgan Chase & Co. increased their target price on shares of Apple from $255.00 to $280.00 and gave the company an "overweight" rating in a research report on Friday, September 19th. DA Davidson reiterated a "neutral" rating and issued a $250.00 target price on shares of Apple in a research report on Thursday, September 11th. Tigress Financial increased their target price on shares of Apple from $300.00 to $305.00 and gave the company a "strong-buy" rating in a research report on Wednesday, September 17th. Phillip Securities lowered shares of Apple from a "hold" rating to a "moderate sell" rating and set a $200.00 target price for the company. in a research report on Thursday, September 11th. Finally, Sanford C. Bernstein began coverage on shares of Apple in a research report on Monday, September 15th. They issued an "outperform" rating and a $290.00 target price for the company. Four research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $252.47.

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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