Stokes Capital Advisors LLC Grows Stock Position in Apple Inc. (NASDAQ:AAPL)

Stokes Capital Advisors LLC boosted its position in shares of Apple Inc. (NASDAQ:AAPL) by 7.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,155 shares of the iPhone maker’s stock after acquiring an additional 1,445 shares during the period. Apple accounts for about 2.4% of Stokes Capital Advisors LLC’s investment portfolio, making the stock its 7th largest position. Stokes Capital Advisors LLC’s holdings in Apple were worth $4,187,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Centaurus Financial Inc. grew its holdings in shares of Apple by 17.9% in the first quarter. Centaurus Financial Inc. now owns 8,318 shares of the iPhone maker’s stock valued at $44,000 after purchasing an additional 1,262 shares in the last quarter. Semmax Financial Advisors Inc. purchased a new position in shares of Apple in the fourth quarter valued at $50,000. INR Advisory Services LLC purchased a new position in shares of Apple in the fourth quarter valued at $124,000. CKW Financial Group grew its holdings in shares of Apple by 15.0% in the fourth quarter. CKW Financial Group now owns 807 shares of the iPhone maker’s stock valued at $127,000 after purchasing an additional 105 shares in the last quarter. Finally, Denali Advisors LLC grew its holdings in shares of Apple by 12.5% in the second quarter. Denali Advisors LLC now owns 900 shares of the iPhone maker’s stock valued at $178,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 58.66% of the company’s stock.

A number of research analysts recently weighed in on the stock. BTIG Research raised their target price on shares of Apple to $234.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Credit Suisse Group set a $209.00 target price on shares of Apple and gave the company a “neutral” rating in a report on Wednesday. Sanford C. Bernstein reissued a “neutral” rating and issued a $205.00 target price on shares of Apple in a report on Wednesday. Morgan Stanley set a $247.00 price objective on shares of Apple and gave the stock a “buy” rating in a research note on Wednesday. Finally, BidaskClub raised shares of Apple from a “hold” rating to a “buy” rating in a research note on Thursday, June 20th. Four equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. Apple has a consensus rating of “Hold” and an average price target of $217.49.

Shares of AAPL traded down $4.41 during trading hours on Friday, reaching $204.02. 40,831,241 shares of the company traded hands, compared to its average volume of 20,916,860. The stock has a market capitalization of $980.21 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 1.80 and a beta of 1.25. Apple Inc. has a 12-month low of $142.00 and a 12-month high of $233.47. The company has a current ratio of 1.50, a quick ratio of 1.26 and a debt-to-equity ratio of 0.88. The stock has a fifty day moving average of $202.58.

Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.10 by $0.08. The firm had revenue of $53.81 billion during the quarter, compared to analyst estimates of $53.39 billion. Apple had a net margin of 21.50% and a return on equity of 52.13%. The business’s revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.34 earnings per share. On average, equities analysts expect that Apple Inc. will post 11.56 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, August 12th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Friday, August 9th. Apple’s dividend payout ratio is currently 25.86%.

Apple announced that its Board of Directors has initiated a share buyback plan on Tuesday, April 30th that authorizes the company to buyback $75.00 billion in shares. This buyback authorization authorizes the iPhone maker to purchase up to 7.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Apple Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

Further Reading: What is the price-to-earnings growth (PEG) ratio?

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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