Apple Inc. (NASDAQ:AAPL) Shares Bought by Fiduciary Alliance LLC

Fiduciary Alliance LLC grew its holdings in Apple Inc. (NASDAQ:AAPL) by 8.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 160,336 shares of the iPhone maker’s stock after acquiring an additional 12,086 shares during the quarter. Apple accounts for approximately 5.7% of Fiduciary Alliance LLC’s investment portfolio, making the stock its 2nd biggest position. Fiduciary Alliance LLC’s holdings in Apple were worth $35,317,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. CWM LLC boosted its holdings in Apple by 2.4% in the 2nd quarter. CWM LLC now owns 2,000,264 shares of the iPhone maker’s stock valued at $421,296,000 after purchasing an additional 45,968 shares during the period. Hilltop National Bank boosted its stake in shares of Apple by 1.0% in the second quarter. Hilltop National Bank now owns 41,290 shares of the iPhone maker’s stock valued at $8,696,000 after buying an additional 409 shares during the period. CVA Family Office LLC grew its position in Apple by 7.4% during the second quarter. CVA Family Office LLC now owns 51,628 shares of the iPhone maker’s stock worth $10,874,000 after buying an additional 3,573 shares in the last quarter. Financial Symmetry Inc grew its position in Apple by 0.5% during the second quarter. Financial Symmetry Inc now owns 11,796 shares of the iPhone maker’s stock worth $2,484,000 after buying an additional 62 shares in the last quarter. Finally, Apella Capital LLC increased its stake in Apple by 15.2% during the 2nd quarter. Apella Capital LLC now owns 77,817 shares of the iPhone maker’s stock worth $17,795,000 after acquiring an additional 10,293 shares during the period. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AAPL shares. Melius Research reiterated a “buy” rating and set a $265.00 target price on shares of Apple in a research report on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price objective on shares of Apple in a research note on Monday, August 5th. Evercore ISI restated an “outperform” rating and issued a $250.00 target price on shares of Apple in a research report on Tuesday. The Goldman Sachs Group increased their price target on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Canaccord Genuity Group boosted their price objective on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Saturday, May 4th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus price target of $237.30.

Insider Buying and Selling

In other news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the sale, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction 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 in the company, valued at $39,542,136.92. The disclosure for this sale can be found here. Insiders have sold a total of 113,884 shares of company stock valued at $23,723,887 over the last ninety days. 0.06% of the stock is owned by corporate insiders.

Apple Price Performance

Shares of NASDAQ AAPL opened at $226.49 on Thursday. The company has a market capitalization of $3.47 trillion, a PE ratio of 35.22, a P/E/G ratio of 2.60 and a beta of 1.24. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.23. The firm has a fifty day simple moving average of $220.80 and a 200 day simple moving average of $195.02.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 145.35% and a net margin of 26.44%. The firm had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. During the same period last year, the company posted $1.26 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts forecast that Apple Inc. will post 6.61 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio is presently 15.55%.

Apple declared that its board has authorized a share repurchase plan on Thursday, May 2nd that allows the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.