Apple Inc. $AAPL Shares Acquired by Fiduciary Financial Group LLC

Key Points

• Fiduciary Financial Group LLC increased its position in Apple Inc. by 6.7% during Q2, owning 185,072 shares worth approximately $38.46 million.
• Apple reported $1.57 earnings per share for the last quarter, exceeding analysts' expectations by $0.14, with revenue also rising 9.6% year-over-year.
• Apple recently declared a $0.26 quarterly dividend, representing a 0.4% yield, with a payout ratio of 15.78%.

Fiduciary Financial Group LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 6.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 185,072 shares of the iPhone maker's stock after buying an additional 11,551 shares during the period. Apple comprises approximately 7.0% of Fiduciary Financial Group LLC's investment portfolio, making the stock its 2nd biggest position. Fiduciary Financial Group LLC's holdings in Apple were worth $38,462,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Advanced Portfolio Management LLC boosted its holdings in Apple by 0.3% during the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock worth $3,260,000 after buying an additional 47 shares in the last quarter. Salus Financial Advisors LLC grew its stake in 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 buying an additional 49 shares during the period. Sharpepoint LLC boosted its stake in Apple by 3.5% during the 1st quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker's stock valued at $322,000 after acquiring an additional 51 shares during the last quarter. Redwood Financial Network Corp raised its holdings 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 purchasing an additional 53 shares during the period. Finally, Mission Hills Financial Advisory LLC grew its position in Apple by 1.3% in the 1st quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker's stock valued at $892,000 after buying an additional 53 shares in the last quarter. Institutional investors own 67.73% of the company's stock.

Insiders Place Their Bets

In other news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction that occurred on 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.06% of the stock is owned by insiders.

Apple Stock Down 0.5%

Shares of NASDAQ AAPL traded down $1.11 during midday trading on Thursday, hitting $237.88. 44,143,988 shares of the stock traded hands, compared to its average volume of 46,887,444. The business has a 50 day moving average price of $223.15 and a two-hundred day moving average price of $212.36. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company has a market cap of $3.53 trillion, a PE ratio of 36.10, a P/E/G ratio of 2.48 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. The company had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.40 EPS. On average, equities analysts predict 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. Stockholders of record on Monday, August 11th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple's payout ratio is 15.78%.

Analyst Ratings Changes

Several equities analysts recently weighed in on AAPL shares. Evercore ISI raised their price objective on shares of Apple from $250.00 to $260.00 and gave the company an "outperform" rating in a research report on Wednesday, September 10th. Monness Crespi & Hardt boosted their price objective on Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, August 1st. UBS Group reiterated a "neutral" rating on shares of Apple in a research report on Monday, September 8th. BMO Capital Markets reissued a "buy" rating on shares of Apple in a report on Wednesday, August 13th. Finally, Tigress Financial increased their price objective on Apple from $300.00 to $305.00 and gave the stock a "strong-buy" rating in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Apple currently has an average rating of "Moderate Buy" and an average price target of $241.93.

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.