Bell Investment Advisors Inc Has $5.99 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Bell Investment Advisors Inc cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 28,418 shares of the iPhone maker’s stock after selling 466 shares during the period. Apple makes up approximately 1.2% of Bell Investment Advisors Inc’s investment portfolio, making the stock its 22nd biggest holding. Bell Investment Advisors Inc’s holdings in Apple were worth $5,985,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Verus Financial Partners Inc. boosted its holdings in shares of Apple by 0.3% in the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after purchasing an additional 48 shares in the last quarter. Brown Financial Advisory boosted its stake in Apple by 3.8% in the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after buying an additional 50 shares in the last quarter. Core Wealth Management Inc. grew its position in Apple by 1.7% during the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after acquiring an additional 50 shares during the last quarter. Lowery Thomas LLC raised its stake in shares of Apple by 0.7% during the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after acquiring an additional 50 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. lifted its holdings in shares of Apple by 1.1% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after acquiring an additional 51 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on AAPL. Robert W. Baird lifted 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. Piper Sandler Companies restated a “neutral” rating and set a $225.00 price target (up from $190.00) on shares of Apple in a research report on Tuesday, July 9th. Rosenblatt Securities reiterated a “buy” rating and issued a $261.00 price objective on shares of Apple in a research report on Tuesday, September 10th. Bank of America reaffirmed a “buy” rating and issued a $256.00 target price on shares of Apple in a research note on Thursday, October 3rd. Finally, Maxim Group reissued a “hold” rating and set a $203.00 price target on shares of Apple in a research report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $235.91.

Apple Trading Up 0.1 %

Shares of NASDAQ:AAPL opened at $233.67 on Wednesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The company has a market cap of $3.58 trillion, a P/E ratio of 36.34, a PEG ratio of 2.40 and a beta of 1.24. The stock’s fifty day moving average price is $227.15 and its 200-day moving average price is $211.46.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS 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 for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.26 earnings per share. Sell-side analysts expect that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Dividend Announcement

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

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction on Monday, August 5th. The stock was 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 directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 517,924 shares of company stock valued at $114,786,399 over the last 90 days. Company insiders own 0.06% of the company’s stock.

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.