Turtle Creek Wealth Advisors LLC Purchases 21,922 Shares of Apple Inc. $AAPL

Turtle Creek Wealth Advisors LLC boosted its position in Apple Inc. (NASDAQ:AAPL) by 21.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 124,740 shares of the iPhone maker’s stock after acquiring an additional 21,922 shares during the quarter. Apple makes up 3.0% of Turtle Creek Wealth Advisors LLC’s investment portfolio, making the stock its 5th biggest position. Turtle Creek Wealth Advisors LLC’s holdings in Apple were worth $25,593,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Ryan Investment Management Inc. acquired a new position in Apple in the second quarter worth $31,000. ROSS JOHNSON & Associates LLC increased its stake in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after buying an additional 180 shares during the period. Nexus Investment Management ULC raised its holdings in Apple by 333.3% during the second quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock worth $53,000 after purchasing an additional 200 shares in the last quarter. Elite Financial Inc. bought a new stake in shares of Apple in the 1st quarter worth $58,000. Finally, LSV Asset Management acquired a new position in shares of Apple in the 4th quarter worth approximately $65,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Deirdre O’brien sold 43,013 shares of the firm’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the completion of the transaction, the senior vice president directly owned 136,687 shares of the company’s stock, valued at $35,181,866.93. This trade represents a 23.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chris Kondo sold 3,752 shares of Apple stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $271.23, for a total value of $1,017,654.96. Following the completion of the transaction, the insider directly owned 15,098 shares in the company, valued at approximately $4,095,030.54. This represents a 19.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 228,052 shares of company stock valued at $58,604,588 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Performance

NASDAQ:AAPL opened at $272.95 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $277.32. The company has a market cap of $4.03 trillion, a price-to-earnings ratio of 41.42, a PEG ratio of 2.62 and a beta of 1.09. The stock has a fifty day moving average price of $255.27 and a 200-day moving average price of $226.41.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.11. The business had revenue of $102.47 billion during the quarter, compared to the consensus estimate of $101.65 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.Apple’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.64 EPS. As a group, equities analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 10th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, November 10th. Apple’s payout ratio is 13.92%.

Analysts Set New Price Targets

A number of research firms have commented on AAPL. Rosenblatt Securities upped their price objective on shares of Apple from $241.00 to $250.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. The Goldman Sachs Group raised their price target on shares of Apple from $279.00 to $320.00 and gave the company a “buy” rating in a report on Friday, October 31st. Seaport Res Ptn upgraded shares of Apple to a “strong-buy” rating in a research note on Wednesday, October 1st. Argus set a $325.00 price objective on Apple and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Moffett Nathanson raised Apple from a “sell” rating to a “neutral” rating and set a $225.00 price target for the company in a report on Thursday, September 4th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $278.22.

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.