Exchange Traded Concepts LLC Buys 242,435 Shares of Apple Inc. $AAPL

Key Points

• Exchange Traded Concepts LLC increased its stake in Apple Inc. by 35.4% during the second quarter, acquiring an additional 242,435 shares to boost its total holdings to 928,218 shares.
• SVP Deirdre O'Brien sold 34,821 shares of Apple, indicating a 20.3% decrease in her position, while Apple's stock is currently down 0.5% as of the latest trading session.
• Apple announced a quarterly dividend of $0.26 per share, reflecting a 0.4% yield, with a payout ratio currently standing at 15.78%.

Exchange Traded Concepts LLC grew its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 35.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 928,218 shares of the iPhone maker's stock after purchasing an additional 242,435 shares during the quarter. Apple makes up 2.3% of Exchange Traded Concepts LLC's holdings, making the stock its 2nd biggest position. Exchange Traded Concepts LLC's holdings in Apple were worth $190,442,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Transactions at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the transaction, the senior vice president owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.06% of the company's stock.

Apple Stock Down 0.5%

Shares of NASDAQ:AAPL opened at $255.46 on Friday. The business has a 50-day moving average price of $228.87 and a 200 day moving average price of $213.22. 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 $3.79 trillion, a price-to-earnings ratio of 38.76, a PEG ratio of 2.67 and a beta of 1.11. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company's quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the company earned $1.40 EPS. Sell-side analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

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

Analyst Ratings Changes

AAPL has been the subject of a number of recent research reports. BMO Capital Markets reiterated a "buy" rating on shares of Apple in a research report on Wednesday, August 13th. 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. Wedbush set a $310.00 price target on shares of Apple and gave the company an "outperform" rating in a research report on Monday, September 22nd. The Goldman Sachs Group reissued a "buy" rating and set a $266.00 price target on shares of Apple in a research report on Tuesday, August 26th. Finally, Rosenblatt Securities boosted their price target on shares of Apple from $223.00 to $241.00 and gave the company a "neutral" rating in a research report on Wednesday, September 10th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $245.66.

Apple 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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