Apple Inc. $AAPL Shares Sold by Quantum Financial Advisors LLC

Quantum Financial Advisors LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,883 shares of the iPhone maker’s stock after selling 540 shares during the quarter. Apple makes up about 1.9% of Quantum Financial Advisors LLC’s investment portfolio, making the stock its 17th largest holding. Quantum Financial Advisors LLC’s holdings in Apple were worth $14,133,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Burkett Financial Services LLC boosted its holdings in Apple by 0.6% in the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock worth $3,199,000 after purchasing an additional 93 shares during the period. Avid Wealth Partners LLC boosted its holdings in shares of Apple by 28.3% during the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock valued at $935,000 after acquiring an additional 930 shares during the period. Bell & Brown Wealth Advisors LLC boosted its holdings in shares of Apple by 0.4% during the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock valued at $13,772,000 after acquiring an additional 240 shares during the period. OneAscent Wealth Management LLC boosted its holdings in shares of Apple by 4.6% during the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker’s stock valued at $2,337,000 after acquiring an additional 409 shares during the period. Finally, Andina Capital Management LLC boosted its holdings in shares of Apple by 209.2% during the first quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock valued at $1,507,000 after acquiring an additional 4,591 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Loop Capital reduced their price target on shares of Apple from $230.00 to $226.00 and set a “hold” rating for the company in a report on Thursday, August 21st. Melius Research set a $290.00 price objective on shares of Apple and gave the company a “buy” rating in a research note on Wednesday, September 10th. Evercore ISI set a $290.00 price objective on shares of Apple and gave the stock an “outperform” rating in a report on Friday. UBS Group reaffirmed a “neutral” rating on shares of Apple in a report on Monday, September 8th. Finally, Tigress Financial upped their price objective on shares of Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a report on Wednesday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $245.51.

Insider Buying and Selling at Apple

In other news, SVP Deirdre O’brien sold 34,821 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the transaction, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. This represents a 20.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is owned by corporate insiders.

Apple Price Performance

NASDAQ AAPL opened at $254.63 on Wednesday. The stock’s 50-day moving average price is $230.51 and its two-hundred day moving average price is $213.80. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The company has a market cap of $3.78 trillion, a PE ratio of 38.64, a PEG ratio of 2.64 and a beta of 1.11. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.14. The firm had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.40 EPS. On average, analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s dividend payout ratio is currently 15.78%.

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.