James J. Burns & Company LLC Increases Stock Holdings in Apple Inc. (NASDAQ:AAPL)

James J. Burns & Company LLC raised its holdings in Apple Inc. (NASDAQ:AAPL) by 491.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 111,451 shares of the iPhone maker’s stock after buying an additional 92,603 shares during the period. Apple makes up approximately 4.6% of James J. Burns & Company LLC’s holdings, making the stock its 4th biggest holding. James J. Burns & Company LLC’s holdings in Apple were worth $23,474,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Foresight Capital Management Advisors Inc. raised its stake in shares of Apple by 0.3% in the second quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock worth $4,003,000 after purchasing an additional 55 shares during the last quarter. Hoese & Co LLP raised its position in Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares in the last quarter. Stableford Capital II LLC raised its position in Apple by 0.3% during the first quarter. Stableford Capital II LLC now owns 17,156 shares of the iPhone maker’s stock valued at $2,942,000 after acquiring an additional 59 shares in the last quarter. Whitcomb & Hess Inc. raised its position in Apple by 1.7% during the second quarter. Whitcomb & Hess Inc. now owns 3,540 shares of the iPhone maker’s stock valued at $746,000 after acquiring an additional 59 shares in the last quarter. Finally, Kwmg LLC raised its position in Apple by 0.6% during the first quarter. Kwmg LLC now owns 10,640 shares of the iPhone maker’s stock valued at $1,825,000 after acquiring an additional 60 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $222.66 on Thursday. Apple Inc. has a one year low of $164.07 and a one year high of $237.23. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The company has a market cap of $3.41 trillion, a price-to-earnings ratio of 34.63, a PEG ratio of 2.60 and a beta of 1.24. The business’s 50 day moving average price is $223.19 and its 200 day moving average price is $198.06.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter in the previous year, the business earned $1.26 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, research analysts predict that Apple Inc. will post 6.7 EPS for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a $0.25 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. Apple’s dividend payout ratio is currently 15.55%.

Analysts Set New Price Targets

Several brokerages recently weighed in on AAPL. Sanford C. Bernstein lifted their price target on Apple from $195.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. DA Davidson upgraded Apple from a “neutral” rating to a “buy” rating and lifted their price target for the company from $200.00 to $230.00 in a research report on Tuesday, June 11th. StockNews.com upgraded Apple from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Erste Group Bank raised Apple from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Finally, Cfra raised their price objective on Apple from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Apple has an average rating of “Moderate Buy” and an average target price of $238.62.

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the sale, the insider now owns 15,419 shares in the company, valued at $3,469,275. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the sale, the insider now owns 15,419 shares in the company, valued at approximately $3,469,275. The disclosure for this sale can be found here. Insiders have sold 113,884 shares of company stock worth $23,723,887 over the last quarter. 0.06% of the stock is currently owned by company insiders.

About Apple

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.