SRS Capital Advisors Inc. Boosts Stock Position in Apple Inc. (NASDAQ:AAPL)

SRS Capital Advisors Inc. lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 69,853 shares of the iPhone maker’s stock after acquiring an additional 932 shares during the quarter. Apple makes up approximately 1.5% of SRS Capital Advisors Inc.’s holdings, making the stock its 28th biggest position. SRS Capital Advisors Inc.’s holdings in Apple were worth $16,276,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Evergreen Wealth Management LLC increased its stake in Apple by 21.6% in the 3rd quarter. Evergreen Wealth Management LLC now owns 14,366 shares of the iPhone maker’s stock worth $3,347,000 after buying an additional 2,549 shares in the last quarter. Heritage Investment Group Inc. boosted its stake in shares of Apple by 22.3% in the third quarter. Heritage Investment Group Inc. now owns 21,443 shares of the iPhone maker’s stock worth $4,996,000 after acquiring an additional 3,905 shares during the period. RIA Advisory Group LLC purchased a new stake in shares of Apple during the third quarter worth about $2,248,000. Maxwell Wealth Strategies Inc. lifted its holdings in Apple by 2.3% in the 3rd quarter. Maxwell Wealth Strategies Inc. now owns 32,444 shares of the iPhone maker’s stock worth $7,250,000 after purchasing an additional 717 shares in the last quarter. Finally, Paragon Advisors LLC boosted its stake in Apple by 5.5% in the 3rd quarter. Paragon Advisors LLC now owns 7,128 shares of the iPhone maker’s stock worth $1,661,000 after purchasing an additional 370 shares during the period. Institutional investors own 67.73% of the company’s stock.

Apple Stock Down 0.4 %

Shares of NASDAQ:AAPL opened at $222.78 on Friday. The company has a 50 day moving average of $240.97 and a two-hundred day moving average of $230.72. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $3.35 trillion, a price-to-earnings ratio of 36.64, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.46 EPS. As a group, analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.45%. Apple’s dividend payout ratio is presently 16.45%.

Wall Street Analyst Weigh In

Several brokerages have commented on AAPL. Barclays decreased their price target on shares of Apple from $184.00 to $183.00 and set an “underweight” rating on the stock in a research note on Wednesday. Wedbush reissued an “outperform” rating and set a $325.00 price target on shares of Apple in a research note on Thursday. UBS Group reaffirmed a “neutral” rating and issued a $236.00 price objective on shares of Apple in a research note on Monday, December 2nd. Morgan Stanley reiterated an “overweight” rating and set a $273.00 target price on shares of Apple in a research report on Friday, December 13th. Finally, Raymond James boosted their price target on shares of Apple to $250.00 and gave the stock a “buy” rating in a research report on Monday, January 20th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $238.05.

Insider Activity

In other news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated 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 transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. This represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

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.