E&G Advisors LP Has $4.90 Million Position in Apple Inc. $AAPL

E&G Advisors LP cut its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 5.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,859 shares of the iPhone maker's stock after selling 1,359 shares during the quarter. Apple comprises about 1.3% of E&G Advisors LP's portfolio, making the stock its 16th biggest holding. E&G Advisors LP's holdings in Apple were worth $4,895,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Ryan Investment Management Inc. bought a new stake in Apple in the 2nd quarter valued at $31,000. ROSS JOHNSON & Associates LLC boosted its stake in 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 purchasing an additional 180 shares during the period. Conquis Financial LLC bought a new stake in Apple in the 4th quarter valued at $63,000. LSV Asset Management bought a new stake in Apple in the 4th quarter valued at $65,000. Finally, Elite Financial Inc. bought a new stake in Apple in the 1st quarter valued at $58,000. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AAPL shares. Rosenblatt Securities boosted their price target on Apple from $223.00 to $241.00 and gave the company a "neutral" rating in a research note on Wednesday, September 10th. Melius Research set a $290.00 target price on Apple and gave the company a "buy" rating in a research report on Wednesday, September 10th. Loop Capital cut their target price on Apple from $230.00 to $226.00 and set a "hold" rating for the company in a research report on Thursday, August 21st. UBS Group reiterated a "neutral" rating on shares of Apple in a research report on Monday, September 8th. Finally, HSBC set a $220.00 target price on Apple and gave the company a "hold" rating in a research report on Monday, September 8th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Apple has a consensus rating of "Moderate Buy" and a consensus price target of $247.49.

Apple Trading Up 0.3%

NASDAQ AAPL opened at $258.02 on Friday. The business has a 50 day simple moving average of $233.09 and a 200 day simple moving average of $214.69. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The stock has a market capitalization of $3.83 trillion, a P/E ratio of 39.15, a P/E/G ratio of 2.49 and a beta of 1.09. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. During the same quarter last year, the firm posted $1.40 earnings per share. The firm's revenue was up 9.6% on a year-over-year basis. Research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders 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 yield of 0.4%. Apple's dividend payout ratio is presently 15.78%.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the transaction, the senior vice president owned 179,158 shares in the company, valued at approximately $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Deirdre O'brien sold 43,013 shares of the stock in a transaction that occurred 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 transaction, the senior vice president owned 136,687 shares in the company, valued at approximately $35,181,866.93. The trade was a 23.94% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 254,922 shares of company stock worth $64,320,190. Corporate insiders own 0.06% of the company's stock.

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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