Boston Mountain Money Management Inc. Raises Stock Position in Apple Inc. (NASDAQ:AAPL)

Boston Mountain Money Management Inc. grew its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,454 shares of the iPhone maker’s stock after purchasing an additional 68 shares during the period. Apple makes up approximately 1.0% of Boston Mountain Money Management Inc.’s investment portfolio, making the stock its 19th biggest position. Boston Mountain Money Management Inc.’s holdings in Apple were worth $1,570,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AAPL. Christopher J. Hasenberg Inc purchased a new position in shares of Apple during the first quarter valued at about $35,000. Fidelis Capital Partners LLC grew its position in shares of Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after purchasing an additional 31,278 shares in the last quarter. A.P. Gilfoyle & Co. L.P. purchased a new position in Apple in the fourth quarter worth about $39,000. University of Texas Texas AM Investment Managment Co. grew its position in Apple by 657.1% in the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after acquiring an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. purchased a new position in Apple in the fourth quarter worth about $85,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Stock Performance

Apple stock opened at $228.87 on Friday. The company has a 50 day moving average price of $222.45 and a 200-day moving average price of $199.62. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23. The company has a market capitalization of $3.51 trillion, a PE ratio of 35.59, a P/E/G ratio of 2.62 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted 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. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. During the same quarter in the prior year, the business earned $1.26 earnings per share. Apple’s revenue was up 4.9% on a year-over-year basis. As a group, equities analysts forecast that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Announces Dividend

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

Analysts Set New Price Targets

Several research firms recently commented on AAPL. Cfra lifted their price target on Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Maxim Group reiterated a “hold” rating and issued a $203.00 price target on shares of Apple in a research report on Tuesday, September 10th. Moffett Nathanson began coverage on Apple in a research report on Monday, August 19th. They issued a “neutral” rating and a $211.00 price target for the company. Evercore ISI reiterated an “outperform” rating and issued a $250.00 price target on shares of Apple in a research report on Monday. Finally, Raymond James lifted their price target on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $239.17.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Chris Kondo sold 8,706 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the sale, the insider now owns 15,419 shares in the company, valued at approximately $3,469,275. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s 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 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. Over the last ninety days, insiders sold 113,884 shares of company stock worth $23,723,887. 0.06% of the stock is owned by corporate insiders.

Apple 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.