AdvisorNet Financial Inc Buys 10,714 Shares of Apple Inc. (AAPL)

AdvisorNet Financial Inc grew its stake in Apple Inc. (NASDAQ:AAPL) by 24.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,149 shares of the iPhone maker’s stock after buying an additional 10,714 shares during the period. Apple accounts for about 1.4% of AdvisorNet Financial Inc’s holdings, making the stock its 11th biggest holding. AdvisorNet Financial Inc’s holdings in Apple were worth $10,209,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Summit Trail Advisors LLC boosted its position in shares of Apple by 17,669.4% during the 1st quarter. Summit Trail Advisors LLC now owns 20,180,694 shares of the iPhone maker’s stock valued at $20,181,000 after purchasing an additional 20,067,124 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Apple by 1.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 19,610,272 shares of the iPhone maker’s stock worth $3,290,212,000 after acquiring an additional 347,970 shares in the last quarter. Cornerstone Wealth Management LLC boosted its holdings in Apple by 18,553.3% in the second quarter. Cornerstone Wealth Management LLC now owns 16,758,709 shares of the iPhone maker’s stock worth $89,526,000 after acquiring an additional 16,668,866 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Apple by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 16,158,094 shares of the iPhone maker’s stock worth $2,711,005,000 after acquiring an additional 55,050 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Apple by 0.4% in the first quarter. American Century Companies Inc. now owns 14,064,371 shares of the iPhone maker’s stock worth $2,359,720,000 after acquiring an additional 60,860 shares in the last quarter. 58.44% of the stock is owned by institutional investors.

Shares of AAPL opened at $204.47 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.12 and a quick ratio of 1.09. The company has a market cap of $1,001.56 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 1.46 and a beta of 1.26. Apple Inc. has a 12 month low of $150.24 and a 12 month high of $233.47.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, November 1st. The iPhone maker reported $2.91 EPS for the quarter, beating the Zacks’ consensus estimate of $2.78 by $0.13. The company had revenue of $62.90 billion during the quarter, compared to the consensus estimate of $61.55 billion. Apple had a return on equity of 48.68% and a net margin of 22.41%. Apple’s revenue was up 19.6% on a year-over-year basis. During the same period last year, the business posted $2.07 earnings per share. On average, equities research analysts predict that Apple Inc. will post 13.35 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, November 12th will be given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Thursday, November 8th. Apple’s payout ratio is 24.52%.

In other Apple news, SVP Angela J. Ahrendts sold 14,194 shares of the firm’s stock in a transaction on Friday, October 5th. The stock was sold at an average price of $227.96, for a total value of $3,235,664.24. Following the completion of the sale, the senior vice president now directly owns 105,538 shares of the company’s stock, valued at $24,058,442.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Angela J. Ahrendts sold 25,000 shares of the firm’s stock in a transaction on Wednesday, October 3rd. The stock was sold at an average price of $232.66, for a total value of $5,816,500.00. Following the completion of the sale, the senior vice president now directly owns 105,538 shares of the company’s stock, valued at $24,554,471.08. The disclosure for this sale can be found here. Insiders have sold 480,737 shares of company stock valued at $107,157,170 over the last ninety days. 0.08% of the stock is currently owned by company insiders.

Several research analysts have issued reports on AAPL shares. Citigroup cut their price target on Apple from $265.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, November 2nd. Royal Bank of Canada set a $240.00 price target on Apple and gave the stock a “buy” rating in a report on Monday, September 24th. Wells Fargo & Co reiterated a “neutral” rating and issued a $210.00 price target on shares of Apple in a report on Friday, August 10th. JPMorgan Chase & Co. started coverage on Apple in a report on Thursday, September 27th. They issued an “overweight” rating and a $272.00 price target on the stock. Finally, Morgan Stanley increased their price target on Apple from $214.00 to $232.00 and gave the stock an “overweight” rating in a report on Tuesday, July 24th. Three research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $224.27.

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About Apple

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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