SOA Wealth Advisors LLC. Decreases Stock Position in Apple Inc. $AAPL

Key Points

• SOA Wealth Advisors LLC reduced its stake in Apple Inc. by 0.7% during the 2nd quarter, now holding 267,635 shares worth approximately $54.91 million, making it the firm's fourth largest position.
• Apple's stock is currently valued at $262.24, having reached a twelve-month high of $264.38 and recently seen a 3.9% increase.
• The company announced a quarterly dividend of $0.26 per share, reflecting a 0.4% dividend yield, with a payout ratio of 15.78%.

SOA Wealth Advisors LLC. lowered its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 267,635 shares of the iPhone maker's stock after selling 1,980 shares during the period. Apple accounts for about 6.0% of SOA Wealth Advisors LLC.'s investment portfolio, making the stock its 4th largest position. SOA Wealth Advisors LLC.'s holdings in Apple were worth $54,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of AAPL. First National Bank of Hutchinson raised its position in shares of Apple by 24.6% during the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after buying an additional 6,982 shares during the last quarter. Eagle Capital Management LLC raised its position in shares of Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock valued at $13,544,000 after buying an additional 272 shares during the last quarter. Brighton Jones LLC raised its position in shares of Apple by 14.8% during the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock valued at $134,554,000 after buying an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC raised its position in shares of Apple by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock valued at $16,742,000 after buying an additional 2,695 shares during the last quarter. Finally, Highview Capital Management LLC DE raised its position in shares of Apple by 2.4% during the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock valued at $12,587,000 after buying an additional 1,155 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

Apple Stock Up 3.9%

NASDAQ:AAPL opened at $262.24 on Tuesday. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $264.38. The company has a market cap of $3.89 trillion, a price-to-earnings ratio of 39.79, a price-to-earnings-growth ratio of 2.46 and a beta of 1.09. The stock has a fifty day simple moving average of $241.83 and a 200-day simple moving average of $217.42. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

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, topping the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same period last year, the company earned $1.40 earnings per share. The business's revenue for the quarter was up 9.6% compared to the same quarter last year. Analysts anticipate that Apple Inc. will post 7.28 EPS for the current 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 given 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 (DPR) is 15.78%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AAPL shares. BMO Capital Markets reissued a "buy" rating on shares of Apple in a report on Wednesday, August 13th. HSBC set a $220.00 target price on shares of Apple and gave the company a "hold" rating in a report on Monday, September 8th. Tigress Financial raised their target price on shares of Apple from $300.00 to $305.00 and gave the company a "strong-buy" rating in a report on Wednesday, September 17th. JPMorgan Chase & Co. raised their target price on shares of Apple from $255.00 to $280.00 and gave the company an "overweight" rating in a report on Friday, September 19th. Finally, CLSA raised shares of Apple to a "strong-buy" rating in a report on Sunday, October 5th. Four analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $251.47.

Insiders Place Their Bets

In related news, CFO Kevan Parekh sold 4,199 shares of Apple stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $247.39, for a total value of $1,038,790.61. Following the completion of the sale, the chief financial officer directly owned 8,765 shares in the company, valued at $2,168,373.35. The trade was a 32.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Timothy D. Cook sold 129,963 shares of Apple 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 sale, the chief executive officer owned 3,280,295 shares of the company's stock, valued at $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 259,121 shares of company stock valued at $65,358,981 in the last three months. 0.06% of the stock is owned by company 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.

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