Abbot Financial Management Inc. Has $11.68 Million Stake in Apple Inc. $AAPL

Abbot Financial Management Inc. lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 56,943 shares of the iPhone maker’s stock after acquiring an additional 1,806 shares during the period. Apple accounts for about 5.4% of Abbot Financial Management Inc.’s portfolio, making the stock its 3rd biggest position. Abbot Financial Management Inc.’s holdings in Apple were worth $11,683,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AAPL. Financial Futures Ltd Liability Co. lifted its position in Apple by 13.2% in the 2nd quarter. Financial Futures Ltd Liability Co. now owns 3,552 shares of the iPhone maker’s stock valued at $729,000 after acquiring an additional 415 shares in the last quarter. Bell & Brown Wealth Advisors LLC increased its stake in shares of Apple by 0.4% during the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock worth $13,772,000 after purchasing an additional 240 shares during the last quarter. American National Bank & Trust boosted its stake in shares of Apple by 2.4% during the 2nd quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock worth $40,107,000 after acquiring an additional 4,543 shares during the period. Riverwater Partners LLC lifted its stake in shares of Apple by 17.9% during the 2nd quarter. Riverwater Partners LLC now owns 5,404 shares of the iPhone maker’s stock worth $1,109,000 after buying an additional 819 shares during the last quarter. Finally, Andina Capital Management LLC lifted its holdings in Apple by 209.2% during the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock worth $1,507,000 after purchasing an additional 4,591 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Insider Activity at Apple

In other Apple news, CFO Kevan Parekh sold 4,199 shares of the firm’s stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $247.39, for a total value of $1,038,790.61. Following the completion of the sale, the chief financial officer directly owned 8,765 shares of the company’s stock, valued at $2,168,373.35. This trade represents a 32.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Deirdre O’brien sold 43,013 shares of the business’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total value of $11,071,116.07. Following the completion of the sale, the senior vice president owned 136,687 shares in the company, valued at approximately $35,181,866.93. The trade was a 23.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 228,052 shares of company stock valued at $58,604,588 in the last 90 days. 0.06% of the stock is currently owned by company insiders.

Apple Trading Up 0.1%

AAPL opened at $278.28 on Friday. The firm has a market capitalization of $4.11 trillion, a PE ratio of 37.25, a P/E/G ratio of 2.60 and a beta of 1.10. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.89 and a quick ratio of 0.86. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $288.62. The company’s 50-day moving average is $268.24 and its 200 day moving average is $236.77.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $101.65 billion. During the same period in the prior year, the firm posted $1.64 EPS. Apple’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. DA Davidson lifted their price target on shares of Apple from $250.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Melius boosted their price objective on shares of Apple from $290.00 to $345.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Jefferies Financial Group upgraded Apple from an “underperform” rating to a “hold” rating and upped their target price for the stock from $203.07 to $246.99 in a research note on Friday, October 31st. Morgan Stanley raised their price target on shares of Apple from $298.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Finally, Barclays upped their price objective on Apple from $180.00 to $230.00 and gave the company an “underweight” rating in a research note on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $282.51.

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.