ORG Partners LLC Has $8.33 Million Position in Apple Inc. $AAPL

Key Points

• ORG Partners LLC increased its stake in Apple Inc. by 3.7% during the second quarter, holding a total of 40,122 shares valued at approximately $8.33 million.
• Several hedge funds, including Advanced Portfolio Management LLC and Salus Financial Advisors LLC, also raised their stakes in Apple, reflecting strong institutional support with 67.73% of shares owned by institutional investors.
• Analysts have recently adjusted their price targets for Apple, with JPMorgan Chase & Co. increasing its target from $255.00 to $280.00, while Jefferies Financial Group lowered its target from $205.82 to $205.16.

ORG Partners LLC grew its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,122 shares of the iPhone maker's stock after acquiring an additional 1,420 shares during the quarter. Apple accounts for 1.8% of ORG Partners LLC's portfolio, making the stock its 6th largest holding. ORG Partners LLC's holdings in Apple were worth $8,331,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Advanced Portfolio Management LLC raised its stake in shares of 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 purchasing an additional 47 shares in the last quarter. Salus Financial Advisors LLC raised its stake in shares of Apple by 3.9% in the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker's stock valued at $291,000 after purchasing an additional 49 shares in the last quarter. Sharpepoint LLC raised its stake in shares of Apple by 3.5% in the first quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker's stock valued at $322,000 after purchasing an additional 51 shares in the last quarter. Redwood Financial Network Corp raised its stake in shares of Apple by 0.6% in the fourth quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker's stock valued at $2,184,000 after purchasing an additional 53 shares in the last quarter. Finally, Mission Hills Financial Advisory LLC raised its stake in shares of Apple by 1.3% in the first quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker's stock valued at $892,000 after purchasing an additional 53 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AAPL has been the subject of a number of recent research reports. Jefferies Financial Group lowered Apple from a "hold" rating to an "underperform" rating and cut their target price for the company from $205.82 to $205.16 in a research note on Friday, October 3rd. JPMorgan Chase & Co. upped their target price on Apple from $255.00 to $280.00 and gave the company an "overweight" rating in a research note on Friday, September 19th. BMO Capital Markets reiterated a "buy" rating on shares of Apple in a research report on Wednesday, August 13th. Loop Capital lowered their price target on Apple from $230.00 to $226.00 and set a "hold" rating on the stock in a research report on Thursday, August 21st. Finally, Morgan Stanley set a $298.00 price target on Apple and gave the company an "overweight" rating in a research report on Thursday, October 2nd. Four research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Apple currently has an average rating of "Moderate Buy" and an average price target of $248.29.

Insider Transactions at Apple

In related news, SVP Deirdre O'brien sold 43,013 shares of the firm's stock in a transaction dated 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 transaction, the senior vice president owned 136,687 shares in the company, valued at $35,181,866.93. This trade represents a 23.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 129,963 shares of the firm's stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the transaction, the chief executive officer owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. This represents a 3.81% 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. Insiders own 0.06% of the company's stock.

Apple Price Performance

Shares of AAPL stock opened at $245.27 on Friday. The stock's fifty day moving average is $237.61 and its 200-day moving average is $215.88. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a market capitalization of $3.64 trillion, a PE ratio of 37.22, a PEG ratio of 2.39 and a beta of 1.09. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced 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. The company had revenue of $94.04 billion for the quarter, compared to analysts' expectations of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business's revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.40 earnings per share. Equities research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio is presently 15.78%.

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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