Apple Inc. $AAPL Holdings Reduced by Rollins Financial Advisors LLC

Rollins Financial Advisors LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 8.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 290,767 shares of the iPhone maker’s stock after selling 27,323 shares during the period. Apple makes up approximately 9.5% of Rollins Financial Advisors LLC’s portfolio, making the stock its 2nd biggest holding. Rollins Financial Advisors LLC’s holdings in Apple were worth $59,657,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Ryan Investment Management Inc. acquired a new position in Apple in the second quarter valued at approximately $31,000. ROSS JOHNSON & Associates LLC increased its holdings in shares of Apple by 1,800.0% during 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 in the last quarter. Nexus Investment Management ULC lifted its stake in shares of Apple by 333.3% in the 2nd quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock valued at $53,000 after purchasing an additional 200 shares during the period. Elite Financial Inc. purchased a new stake in Apple during the first quarter worth $58,000. Finally, LSV Asset Management purchased a new stake in Apple during the fourth quarter worth $65,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Down 1.2%

Shares of AAPL opened at $280.70 on Friday. The stock has a 50 day moving average price of $265.56 and a 200 day moving average price of $233.58. Apple Inc. has a one year low of $169.21 and a one year high of $288.62. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.86 and a current ratio of 0.89. The stock 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 (NASDAQ:AAPL) last announced its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.11. Apple had a net margin of 26.92% and a return on equity of 164.05%. The company had revenue of $102.47 billion for the quarter, compared to analysts’ expectations of $101.65 billion. During the same quarter in the previous year, the company posted $1.64 EPS. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. Equities research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. BMO Capital Markets reaffirmed a “buy” rating on shares of Apple in a report on Wednesday, August 13th. Barclays lifted their price target on Apple from $180.00 to $230.00 and gave the company an “underweight” rating in a research note on Friday, October 31st. Wells Fargo & Company set a $300.00 price objective on Apple and gave the company an “overweight” rating in a report on Friday, October 31st. Evercore ISI boosted their price objective on Apple from $290.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Finally, Loop Capital reaffirmed a “buy” rating and set a $325.00 target price (up from $315.00) on shares of Apple in a research note on Tuesday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $278.53.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the transaction, the senior vice president owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 3,752 shares of the company’s stock in a transaction on Friday, November 7th. The shares were 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. The trade was a 19.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 228,052 shares of company stock worth $58,604,588. 0.06% of the stock is currently owned by insiders.

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.