Apple Inc. (NASDAQ:AAPL) is Financial Partners Group Inc’s 6th Largest Position

Financial Partners Group Inc lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% in the third quarter, HoldingsChannel.com reports. The firm owned 106,714 shares of the iPhone maker’s stock after acquiring an additional 778 shares during the quarter. Apple accounts for about 3.7% of Financial Partners Group Inc’s investment portfolio, making the stock its 6th largest holding. Financial Partners Group Inc’s holdings in Apple were worth $24,864,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AAPL. Lantz Financial LLC lifted its stake in Apple by 8.6% during the 2nd quarter. Lantz Financial LLC now owns 29,751 shares of the iPhone maker’s stock worth $6,266,000 after acquiring an additional 2,361 shares in the last quarter. 180 Wealth Advisors LLC lifted its stake in Apple by 0.4% during the 2nd quarter. 180 Wealth Advisors LLC now owns 107,737 shares of the iPhone maker’s stock worth $24,518,000 after acquiring an additional 452 shares in the last quarter. Salvus Wealth Management LLC lifted its stake in Apple by 15.1% during the 2nd quarter. Salvus Wealth Management LLC now owns 23,938 shares of the iPhone maker’s stock worth $5,042,000 after acquiring an additional 3,137 shares in the last quarter. Capital Wealth Management LLC lifted its stake in Apple by 96.9% during the 2nd quarter. Capital Wealth Management LLC now owns 2,894 shares of the iPhone maker’s stock worth $610,000 after acquiring an additional 1,424 shares in the last quarter. Finally, Breed s Hill Capital LLC lifted its stake in Apple by 1.0% during the 2nd quarter. Breed s Hill Capital LLC now owns 26,540 shares of the iPhone maker’s stock worth $5,590,000 after acquiring an additional 270 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Maxim Group increased their target price on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Morgan Stanley reaffirmed an “overweight” rating and issued a $273.00 price target on shares of Apple in a research report on Friday, December 13th. Sanford C. Bernstein increased their price target on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Moffett Nathanson reaffirmed a “sell” rating and issued a $188.00 price target (down previously from $202.00) on shares of Apple in a research report on Tuesday. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price target on shares of Apple in a research report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $237.64.

Insider Activity

In other news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were 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 of the company’s stock, valued at $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Apple Trading Up 0.2 %

Shares of AAPL stock opened at $242.70 on Friday. The business’s 50 day moving average is $239.91 and its two-hundred day moving average is $229.75. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $260.10. The company has a market capitalization of $3.67 trillion, a P/E ratio of 39.92, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the business posted $1.46 EPS. Equities analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. Apple’s dividend payout ratio is currently 16.45%.

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.