Apple Inc. $AAPL Shares Purchased by Parallel Advisors LLC

Key Points

• Parallel Advisors LLC increased its holdings in Apple Inc. by 0.3% during Q2, now owning 929,883 shares valued at approximately $190.78 million.
• Apple reported a Q2 revenue of $94.04 billion, surpassing analysts' expectations of $88.64 billion, and a net margin of 24.30%.
• The company recently announced a quarterly dividend of $0.26, representing an annual yield of 0.4% with a payout ratio of 15.78%.

Parallel Advisors LLC grew its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 929,883 shares of the iPhone maker's stock after purchasing an additional 2,969 shares during the quarter. Apple makes up about 3.8% of Parallel Advisors LLC's portfolio, making the stock its 4th biggest holding. Parallel Advisors LLC's holdings in Apple were worth $190,784,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. O Connor Financial Group LLC boosted its stake in Apple by 7.5% during the 2nd quarter. O Connor Financial Group LLC now owns 4,075 shares of the iPhone maker's stock worth $870,000 after purchasing an additional 285 shares during the last quarter. Trust Co. of Oklahoma boosted its stake in Apple by 0.4% during the 2nd quarter. Trust Co. of Oklahoma now owns 66,287 shares of the iPhone maker's stock worth $13,600,000 after purchasing an additional 263 shares during the last quarter. Investors Research Corp boosted its stake in Apple by 4.4% during the 2nd quarter. Investors Research Corp now owns 18,827 shares of the iPhone maker's stock worth $3,863,000 after purchasing an additional 787 shares during the last quarter. Wealth Alliance Advisory Group LLC raised its holdings in shares of Apple by 4.4% during the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 50,015 shares of the iPhone maker's stock worth $10,262,000 after acquiring an additional 2,096 shares during the period. Finally, Park Edge Advisors LLC boosted its position in shares of Apple by 6.2% during the 2nd quarter. Park Edge Advisors LLC now owns 12,378 shares of the iPhone maker's stock valued at $2,540,000 after acquiring an additional 720 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on AAPL shares. Jefferies Financial Group boosted their price target on shares of Apple from $190.67 to $205.82 and gave the company a "hold" rating in a research report on Monday, September 8th. Needham & Company LLC reissued a "hold" rating on shares of Apple in a research report on Friday, July 25th. Melius Research set a $290.00 price target on shares of Apple and gave the company a "buy" rating in a research report on Wednesday, September 10th. 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 analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Apple has an average rating of "Moderate Buy" and a consensus target price of $244.03.

Insider Buying and Selling at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of the 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 sale, the senior vice president directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.06% of the company's stock.

Apple Stock Up 0.1%

Shares of AAPL stock traded up $0.21 during trading hours on Tuesday, reaching $256.29. 13,480,713 shares of the stock were exchanged, compared to its average volume of 57,306,352. The business's fifty day moving average is $225.30 and its two-hundred day moving average is $212.22. 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 firm has a market capitalization of $3.80 trillion, a P/E ratio of 38.90, a P/E/G ratio of 2.55 and a beta of 1.11.

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 (EPS) for the quarter, beating 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 firm's quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.40 earnings per share. As a group, research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed 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 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.