Apple Inc. $AAPL is Delta Financial Advisors LLC’s 4th Largest Position

Delta Financial Advisors LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 6.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,689 shares of the iPhone maker’s stock after selling 4,144 shares during the quarter. Apple comprises approximately 4.7% of Delta Financial Advisors LLC’s investment portfolio, making the stock its 4th biggest holding. Delta Financial Advisors LLC’s holdings in Apple were worth $13,272,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AAPL. Ryan Investment Management Inc. purchased a new stake in shares of Apple during the second quarter worth about $31,000. ROSS JOHNSON & Associates LLC raised its position in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares during the last quarter. Nexus Investment Management ULC boosted its stake in Apple by 333.3% in the 2nd quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock worth $53,000 after purchasing an additional 200 shares in the last quarter. Elite Financial Inc. purchased a new stake in Apple during the 1st quarter worth approximately $58,000. Finally, LSV Asset Management purchased a new stake in Apple during the 4th quarter worth approximately $65,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

AAPL has been the subject of a number of research analyst reports. BMO Capital Markets reaffirmed a “buy” rating on shares of Apple in a report on Wednesday, August 13th. Moffett Nathanson upgraded Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price for the company in a research note on Thursday, September 4th. Cowen reaffirmed a “buy” rating on shares of Apple in a research report on Monday, October 27th. UBS Group boosted their price target on Apple from $220.00 to $280.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Finally, Evercore ISI increased their price objective on Apple from $290.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $278.53.

Apple Stock Down 1.2%

Shares of AAPL opened at $280.70 on Friday. The company has a market capitalization of $4.15 trillion, a price-to-earnings ratio of 37.58, a PEG ratio of 2.65 and a beta of 1.10. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $288.62. The stock’s 50-day moving average price is $265.56 and its 200-day moving average price is $233.58. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 1.06.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.11. Apple had a return on equity of 164.05% and a net margin of 26.92%.The company had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. During the same period last year, the business earned $1.64 earnings per share. Apple’s quarterly revenue was up 8.7% on a year-over-year basis. On average, sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, November 10th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, November 10th. Apple’s payout ratio is currently 13.92%.

Insider Activity

In related news, SVP Katherine L. Adams sold 47,125 shares of the firm’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the sale, the senior vice president owned 179,158 shares in the company, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Deirdre O’brien sold 43,013 shares of Apple stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the completion of the transaction, the senior vice president directly owned 136,687 shares of the company’s stock, valued at $35,181,866.93. The trade was a 23.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 228,052 shares of company stock valued at $58,604,588 in the last three months. Corporate insiders own 0.06% of the company’s stock.

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.