Apple Inc. (NASDAQ:AAPL) is Horan Capital Advisors LLC.’s 2nd Largest Position

Horan Capital Advisors LLC. trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,691 shares of the iPhone maker’s stock after selling 225 shares during the quarter. Apple comprises about 7.1% of Horan Capital Advisors LLC.’s holdings, making the stock its 2nd largest position. Horan Capital Advisors LLC.’s holdings in Apple were worth $18,173,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AAPL. Atlantic Private Wealth LLC purchased a new position in shares of Apple in the 1st quarter worth about $30,000. Summit Wealth Group LLC boosted its holdings in shares of Apple by 16,252.3% in the 1st quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 6,949,659 shares in the last quarter. HBC Financial Services PLLC boosted its holdings in shares of Apple by 21.7% in the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares in the last quarter. Clear Perspectives Financial Planning LLC boosted its holdings in shares of Apple by 27.3% in the 1st quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock worth $172,000 after purchasing an additional 211 shares in the last quarter. Finally, Magellan Asset Management Ltd boosted its holdings in shares of Apple by 10.6% in the 2nd quarter. Magellan Asset Management Ltd now owns 1,323 shares of the iPhone maker’s stock worth $181,000 after purchasing an additional 127 shares in the last quarter. 58.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AAPL has been the subject of a number of research reports. TD Cowen upped their price objective on Apple from $195.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday, August 1st. Tigress Financial boosted their target price on Apple from $225.00 to $240.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 16th. Canaccord Genuity Group boosted their target price on Apple from $185.00 to $205.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Wedbush reissued an “outperform” rating and issued a $240.00 target price on shares of Apple in a research note on Wednesday, November 1st. Finally, Evercore ISI reissued an “outperform” rating and issued a $210.00 target price on shares of Apple in a research note on Thursday, September 28th. Ten research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $198.25.

Apple Trading Up 0.9 %

Shares of Apple stock opened at $191.45 on Tuesday. The firm has a market cap of $2.98 trillion, a price-to-earnings ratio of 31.28, a PEG ratio of 2.60 and a beta of 1.30. The business has a 50-day moving average price of $177.15 and a 200-day moving average price of $181.03. The company has a quick ratio of 0.94, a current ratio of 0.99 and a debt-to-equity ratio of 1.53. Apple Inc. has a twelve month low of $124.17 and a twelve month high of $198.23.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $1.46 EPS for the quarter, topping the consensus estimate of $1.39 by $0.07. The company had revenue of $89.50 billion during the quarter, compared to analyst estimates of $89.34 billion. Apple had a return on equity of 160.78% and a net margin of 25.31%. The firm’s revenue was down .7% on a year-over-year basis. During the same quarter last year, the business posted $1.29 earnings per share. Equities research analysts anticipate that Apple Inc. will post 6.56 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, November 13th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, November 10th. This represents a $0.96 annualized dividend and a dividend yield of 0.50%. Apple’s dividend payout ratio (DPR) is presently 15.69%.

Insider Buying and Selling at Apple

In other Apple news, SVP Deirdre O’brien sold 65,536 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $172.11, for a total transaction of $11,279,400.96. Following the completion of the transaction, the senior vice president now owns 136,445 shares in the company, valued at $23,483,548.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Chris Kondo sold 4,806 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $184.04, for a total value of $884,496.24. Following the completion of the transaction, the insider now owns 34,687 shares of the company’s stock, valued at $6,383,795.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Deirdre O’brien sold 65,536 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $172.11, for a total transaction of $11,279,400.96. Following the completion of the transaction, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at approximately $23,483,548.95. The disclosure for this sale can be found here. Insiders sold 567,839 shares of company stock worth $100,675,794 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Apple Company 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.