Stiles Financial Services Inc Has $10.07 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Stiles Financial Services Inc trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 9.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,818 shares of the iPhone maker’s stock after selling 4,936 shares during the period. Apple accounts for approximately 3.9% of Stiles Financial Services Inc’s investment portfolio, making the stock its 2nd biggest position. Stiles Financial Services Inc’s holdings in Apple were worth $10,071,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. Vanguard Group Inc. grew its position in shares of Apple by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after purchasing an additional 18,067,216 shares during the last quarter. Swedbank AB acquired a new stake in shares of Apple during the first quarter worth $3,026,492,000. Global Assets Advisory LLC boosted its position in shares of Apple by 23,076.4% in the first quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock valued at $1,584,512,000 after acquiring an additional 9,200,345 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of Apple by 158.3% in the first quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after acquiring an additional 7,067,379 shares in the last quarter. Finally, Lazard Asset Management LLC increased its position in Apple by 161.2% during the first quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock worth $1,502,068,000 after acquiring an additional 5,405,542 shares during the period. 60.41% of the stock is owned by institutional investors.

Apple Stock Performance

Shares of AAPL opened at $233.85 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The company’s fifty day moving average is $224.59 and its 200-day moving average is $207.04. The firm has a market cap of $3.59 trillion, a price-to-earnings ratio of 36.37, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The firm had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.26 EPS. Equities analysts expect that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the sale, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 517,924 shares of company stock valued at $114,786,399 in the last three months. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AAPL shares. Robert W. Baird increased their target price on shares of Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Morgan Stanley reissued an “overweight” rating and set a $273.00 price target on shares of Apple in a research report on Tuesday, September 10th. Loop Capital raised Apple from a “hold” rating to a “buy” rating and lifted their price objective for the company from $170.00 to $300.00 in a report on Monday, July 15th. Needham & Company LLC reissued a “buy” rating and set a $260.00 target price on shares of Apple in a report on Thursday, September 19th. Finally, Maxim Group restated a “hold” rating and issued a $203.00 price target on shares of Apple in a research report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average price target of $239.27.

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.