FLC Capital Advisors Purchases 7,450 Shares of Apple Inc. $AAPL

Key Points

• FLC Capital Advisors increased its holdings in Apple Inc. by 10.2%, now owning about 80,491 shares valued at approximately $17.88 million.
• Apple recently announced a quarterly dividend of $0.26 per share, resulting in a dividend yield of 0.4% and a payout ratio of 15.78%.
• Analysts have given Apple a consensus rating of "Moderate Buy" with an average price target of $237.37, following updated price targets from various firms, including $270.00 by Monness Crespi & Hardt.

FLC Capital Advisors lifted its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 10.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,491 shares of the iPhone maker's stock after acquiring an additional 7,450 shares during the period. Apple accounts for about 4.0% of FLC Capital Advisors' investment portfolio, making the stock its 6th largest position. FLC Capital Advisors' holdings in Apple were worth $17,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the stock. Advanced Portfolio Management LLC boosted its holdings in Apple by 0.3% in the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock valued at $3,260,000 after acquiring an additional 47 shares during the last quarter. Salus Financial Advisors LLC grew its holdings in shares of Apple by 3.9% during the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker's stock worth $291,000 after purchasing an additional 49 shares during the period. Disciplined Investments LLC increased its position in Apple by 0.7% during the 4th quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker's stock worth $1,794,000 after purchasing an additional 51 shares in the last quarter. Sharpepoint LLC lifted its position in Apple by 3.5% during the first quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker's stock valued at $322,000 after buying an additional 51 shares in the last quarter. Finally, Mission Hills Financial Advisory LLC grew its stake in 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 buying an additional 53 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Performance

AAPL traded down $3.28 during trading hours on Tuesday, hitting $228.86. 20,054,462 shares of the stock were exchanged, compared to its average volume of 56,619,484. The stock has a market cap of $3.40 trillion, a price-to-earnings ratio of 34.72, a price-to-earnings-growth ratio of 2.42 and a beta of 1.11. The stock has a 50-day simple moving average of $216.40 and a 200-day simple moving average of $212.63. 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 Inc. has a 12 month low of $169.21 and a 12 month high of $260.10.

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

Apple Announces Dividend

The firm also recently disclosed 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 was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.5%. Apple's dividend payout ratio is 15.78%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Bank of America restated a "buy" rating and set a $250.00 target price on shares of Apple in a report on Monday, August 25th. Loop Capital dropped their target price on Apple from $230.00 to $226.00 and set a "hold" rating on the stock in a report on Thursday, August 21st. BMO Capital Markets restated a "buy" rating on shares of Apple in a report on Wednesday, August 13th. Raymond James Financial reaffirmed an "outperform" rating and issued a $240.00 price objective (up previously from $230.00) on shares of Apple in a research report on Friday, August 1st. Finally, Monness Crespi & Hardt boosted their target price on shares of Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $237.37.

Insider Transactions at Apple

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of Apple stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the transaction, the senior vice president directly owned 136,687 shares in the company, valued at $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.06% of the stock is owned by corporate insiders.

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.