Rollins Financial Advisors LLC Decreases Stock Holdings in Apple Inc. $AAPL

Rollins Financial Advisors LLC reduced its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 318,090 shares of the iPhone maker's stock after selling 11,833 shares during the quarter. Apple comprises about 12.3% of Rollins Financial Advisors LLC's portfolio, making the stock its largest position. Rollins Financial Advisors LLC's holdings in Apple were worth $70,657,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Advanced Portfolio Management LLC grew its holdings in shares of Apple by 0.3% during the 4th 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 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 valued at $291,000 after purchasing an additional 49 shares during the last quarter. Sharpepoint LLC grew its holdings in shares of 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 purchasing an additional 51 shares during the last quarter. Mission Hills Financial Advisory LLC grew its holdings in shares of Apple by 1.3% during the 1st 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 during the last quarter. Finally, Redwood Financial Network Corp grew its holdings in shares of Apple by 0.6% during the 4th 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 during the last quarter. 67.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AAPL has been the topic of several recent research reports. Raymond James Financial reiterated an "outperform" rating and set a $240.00 target price (up from $230.00) on shares of Apple in a research report on Friday, August 1st. Rosenblatt Securities lifted their target price on shares of Apple from $223.00 to $241.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 10th. Evercore ISI lifted their target price on shares of Apple from $250.00 to $260.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 10th. DA Davidson reiterated a "neutral" rating and set a $250.00 target price on shares of Apple in a research report on Thursday. Finally, Monness Crespi & Hardt lifted 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 analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $240.80.

Apple Stock Up 1.8%

Apple stock opened at $234.07 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The firm's fifty day moving average is $221.50 and its 200 day moving average is $212.02. The company has a market capitalization of $3.47 trillion, a PE ratio of 35.52, a PEG ratio of 2.43 and a beta of 1.11.

Apple (NASDAQ:AAPL - Get Free Report) last released its 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. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter in the previous year, the company earned $1.40 EPS. Apple's quarterly revenue was up 9.6% compared to the same quarter last year. As a group, sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

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

Insider Activity

In related news, SVP Deirdre O'brien sold 34,821 shares of the business's stock in a transaction on Friday, August 8th. The shares were 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 in the company, valued at $30,508,538.40. The trade was a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is owned by insiders.

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.

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