Apple Inc. (NASDAQ:AAPL) Position Increased by Smith Anglin Financial LLC

Smith Anglin Financial LLC increased its stake in Apple Inc. (NASDAQ:AAPL) by 0.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 109,383 shares of the iPhone maker’s stock after acquiring an additional 134 shares during the period. Apple comprises approximately 2.5% of Smith Anglin Financial LLC’s portfolio, making the stock its 9th largest position. Smith Anglin Financial LLC’s holdings in Apple were worth $25,486,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Fidelis Capital Partners LLC grew its position in shares of Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after buying an additional 31,278 shares during the last quarter. Hershey Financial Advisers LLC bought a new stake in shares of Apple in the 2nd quarter worth approximately $42,000. Access Investment Management LLC bought a new position in shares of Apple during the first quarter valued at $140,000. Hoese & Co LLP lifted its stake in shares of Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after buying an additional 57 shares in the last quarter. Finally, Sage Financial Group Inc. bought a new stake in shares of Apple in the 2nd quarter worth $206,000. Institutional investors own 60.41% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $229.87 on Friday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The firm’s 50 day moving average is $227.73 and its two-hundred day moving average is $217.81. The company has a market cap of $3.47 trillion, a P/E ratio of 37.81, a P/E/G ratio of 2.24 and a beta of 1.24. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share 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 business had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same period last year, the company posted $1.46 EPS. The business’s quarterly revenue was up 6.1% on a year-over-year basis. Analysts expect that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is currently 16.45%.

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,130 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at $24,416,137.76. This trade represents a 35.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. StockNews.com cut Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. New Street Research reaffirmed a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Wednesday, September 25th. Maxim Group raised their price objective on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Rosenblatt Securities upped their target price on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, TD Cowen boosted their price objective on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $235.25.

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.