Huntleigh Advisors Inc. Has $24.59 Million Position in Apple Inc. $AAPL

Key Points

• Huntleigh Advisors Inc. has reduced its holdings in Apple Inc. by 8.1%, now owning 110,691 shares valued at approximately $24.6 million, making Apple its second-largest investment.
• Apple's stock price rose 1.3% to $227.76, with institutional investors owning 67.73% of its shares as of the latest trading data.
• The company has announced a $100 billion share buyback plan and recently paid a quarterly dividend of $0.26 per share, reflecting a 0.5% dividend yield.

Huntleigh Advisors Inc. reduced its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 8.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,691 shares of the iPhone maker's stock after selling 9,793 shares during the quarter. Apple comprises about 4.8% of Huntleigh Advisors Inc.'s portfolio, making the stock its 2nd biggest position. Huntleigh Advisors Inc.'s holdings in Apple were worth $24,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Conquis Financial LLC bought a new stake in shares of Apple during the fourth quarter worth approximately $63,000. LSV Asset Management bought a new stake in shares of Apple during the fourth quarter worth approximately $65,000. Pillar Financial Advisors LLC bought a new stake in shares of Apple during the fourth quarter worth approximately $82,000. Compass Planning Associates Inc bought a new stake in shares of Apple during the fourth quarter worth approximately $96,000. Finally, Sellwood Investment Partners LLC bought a new stake in shares of Apple during the fourth quarter worth approximately $147,000. 67.73% of the stock is owned by institutional investors.

Apple Stock Up 1.3%

AAPL traded up $2.86 during trading on Friday, reaching $227.76. The company had a trading volume of 42,431,176 shares, compared to its average volume of 61,854,304. 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. The business's fifty day moving average price is $212.52 and its 200 day moving average price is $212.96. The company has a market cap of $3.38 trillion, a P/E ratio of 34.56, a PEG ratio of 2.38 and a beta of 1.16.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. The firm had revenue of $94.04 billion for 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 business's revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.40 earnings per share. Equities analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were paid a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.5%. Apple's payout ratio is presently 15.78%.

Apple declared that its board has authorized a share buyback plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of recent research reports. Wedbush reissued an "outperform" rating and set a $270.00 price target on shares of Apple in a research note on Thursday, August 7th. Monness Crespi & Hardt lifted their price objective on shares of Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. UBS Group lifted their price objective on shares of Apple from $210.00 to $220.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Loop Capital reduced their price objective on shares of Apple from $230.00 to $226.00 and set a "hold" rating on the stock in a research note on Thursday. Finally, Jefferies Financial Group raised shares of Apple from an "underperform" rating to a "hold" rating in a research note on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $237.98.

Insider Buying and Selling

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the business'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 value of $7,772,047.20. Following the sale, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.06% of the company's stock.

About Apple

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.