Phillips Financial Management LLC Acquires 237 Shares of Apple Inc. $AAPL

Phillips Financial Management LLC increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 22,095 shares of the iPhone maker’s stock after acquiring an additional 237 shares during the period. Phillips Financial Management LLC’s holdings in Apple were worth $4,533,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Ryan Investment Management Inc. acquired a new stake in Apple in the 2nd quarter valued at $31,000. ROSS JOHNSON & Associates LLC lifted its holdings in shares of Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 180 shares during the period. Nexus Investment Management ULC boosted its stake in shares of Apple by 333.3% in the 2nd quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock valued at $53,000 after purchasing an additional 200 shares in the last quarter. LSV Asset Management bought a new stake in shares of Apple in the 4th quarter worth about $65,000. Finally, Elite Financial Inc. bought a new stake in shares of Apple in the 1st quarter worth about $58,000. Institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the topic of a number of recent analyst reports. Robert W. Baird set a $300.00 price target on shares of Apple in a research report on Friday, October 31st. Loop Capital raised Apple from a “hold” rating to a “buy” rating and boosted their target price for the stock from $226.00 to $315.00 in a report on Monday, October 20th. DA Davidson increased their price target on Apple from $250.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. TD Cowen lifted their price objective on Apple from $275.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Rosenblatt Securities increased their target price on Apple from $241.00 to $250.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $278.22.

Insiders Place Their Bets

In related news, insider Chris Kondo sold 3,752 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $271.23, for a total value of $1,017,654.96. Following the transaction, the insider directly owned 15,098 shares in the company, valued at $4,095,030.54. This represents a 19.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Deirdre O’brien sold 43,013 shares of Apple 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 sale, the senior vice president directly owned 136,687 shares of the company’s stock, valued at $35,181,866.93. This represents a 23.94% decrease in their position. 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 three months. 0.06% of the stock is owned by insiders.

Apple Trading Up 2.0%

AAPL stock opened at $271.49 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $277.32. The company has a market cap of $4.01 trillion, a P/E ratio of 41.20, a PEG ratio of 2.62 and a beta of 1.09. The business has a fifty day moving average of $259.49 and a 200-day moving average of $228.92.

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

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, November 10th were paid 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 of this dividend was Monday, November 10th. Apple’s payout ratio is 13.92%.

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.