Apple Inc. (NASDAQ:AAPL) Shares Purchased by Independent Advisor Alliance

Independent Advisor Alliance increased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 920,737 shares of the iPhone maker's stock after purchasing an additional 8,028 shares during the period. Apple comprises about 6.6% of Independent Advisor Alliance's investment portfolio, making the stock its largest position. Independent Advisor Alliance's holdings in Apple were worth $193,926,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of AAPL. Swedbank AB bought a new stake in shares of Apple during the first quarter valued at approximately $3,026,492,000. Strategic Financial Concepts LLC increased its position in shares of Apple by 14,145.8% during the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker's stock valued at $1,603,000 after purchasing an additional 7,558,826 shares during the period. Canada Pension Plan Investment Board increased its position in shares of Apple by 158.3% during the first quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker's stock valued at $1,977,582,000 after purchasing an additional 7,067,379 shares during the period. Lazard Asset Management LLC increased its position in shares of Apple by 161.2% during the first quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker's stock valued at $1,502,068,000 after purchasing an additional 5,405,542 shares during the period. Finally, William Blair Investment Management LLC bought a new stake in Apple in the second quarter valued at $834,368,000. 60.41% of the stock is currently owned by institutional investors.

Apple Stock Down 0.3 %

Shares of Apple stock opened at $222.72 on Thursday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The business has a 50-day moving average of $226.91 and a two-hundred day moving average of $213.51. The company has a market capitalization of $3.39 trillion, a P/E ratio of 36.63, a price-to-earnings-growth ratio of 2.39 and a beta of 1.24. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the prior year, the company earned $1.46 earnings per share. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities analysts predict that Apple Inc. will post 7.45 EPS for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple's dividend payout ratio (DPR) is currently 16.45%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AAPL. KeyCorp cut Apple from a "sector weight" rating to an "underweight" rating and set a $200.00 price target on the stock. in a research report on Friday, October 25th. Rosenblatt Securities upped their price target on Apple from $261.00 to $262.00 and gave the company a "buy" rating in a research report on Friday, November 1st. StockNews.com cut Apple from a "buy" rating to a "hold" rating in a research report on Friday, November 1st. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $265.00 price target on shares of Apple in a research report on Tuesday, September 10th. Finally, UBS Group reiterated a "hold" rating and issued a $236.00 price target on shares of Apple in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Apple presently has a consensus rating of "Moderate Buy" and an average price target of $235.51.

Insiders Place Their Bets

In related news, insider Chris Kondo sold 8,706 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,469,275. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Chris Kondo sold 8,706 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,469,275. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the transaction, the chief operating officer now owns 489,944 shares of the company's stock, valued at approximately $111,148,695.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 417,924 shares of company stock worth $94,142,399 over the last ninety days. 0.06% of the stock is currently 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.