Farnam Financial LLC Has $2.92 Million Stock Holdings in Apple Inc. $AAPL

Farnam Financial LLC raised its holdings in Apple Inc. (NASDAQ:AAPL) by 24.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,240 shares of the iPhone maker’s stock after buying an additional 2,775 shares during the period. Apple comprises about 2.6% of Farnam Financial LLC’s holdings, making the stock its 13th largest position. Farnam Financial LLC’s holdings in Apple were worth $2,922,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wall Street Zen downgraded shares of Apple from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Moffett Nathanson upgraded shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 price target on the stock in a report on Thursday, September 4th. UBS Group reaffirmed a “neutral” rating on shares of Apple in a research report on Monday. Loop Capital reiterated a “buy” rating and issued a $325.00 price objective (up previously from $315.00) on shares of Apple in a research note on Tuesday, December 2nd. Finally, DZ Bank upgraded Apple from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a research note on Tuesday, November 4th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $282.51.

Insider Activity at Apple

In related news, insider Chris Kondo sold 3,752 shares of Apple stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $271.23, for a total value of $1,017,654.96. Following the completion of the sale, the insider owned 15,098 shares of the company’s stock, valued at approximately $4,095,030.54. This trade represents a 19.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the sale, the senior vice president owned 179,158 shares in the company, valued at $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 228,052 shares of company stock worth $58,604,588 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Up 0.6%

Shares of AAPL stock opened at $278.78 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 1.06. The firm has a market cap of $4.12 trillion, a P/E ratio of 37.32, a PEG ratio of 2.59 and a beta of 1.10. The company has a 50 day moving average of $267.42 and a 200-day moving average of $235.90. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $288.62.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 EPS 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 business had revenue of $102.47 billion for the quarter, compared to the consensus estimate of $101.65 billion. During the same quarter in the prior year, the business earned $1.64 earnings per share. Apple’s revenue for the quarter was up 8.7% on a year-over-year basis. Sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

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

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.