Warren Averett Asset Management LLC Raises Stake in Apple Inc. (NASDAQ:AAPL)

Warren Averett Asset Management LLC boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 5.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 21,740 shares of the iPhone maker’s stock after purchasing an additional 1,182 shares during the period. Apple makes up 0.6% of Warren Averett Asset Management LLC’s investment portfolio, making the stock its 28th largest holding. Warren Averett Asset Management LLC’s holdings in Apple were worth $4,303,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Centaurus Financial Inc. boosted its holdings in shares of Apple by 17.9% in the first quarter. Centaurus Financial Inc. now owns 8,318 shares of the iPhone maker’s stock valued at $44,000 after acquiring an additional 1,262 shares in the last quarter. Semmax Financial Advisors Inc. purchased a new stake in Apple during the fourth quarter worth about $50,000. Avondale Wealth Management boosted its holdings in Apple by 25.4% during the second quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock worth $63,000 after buying an additional 64 shares in the last quarter. NuWave Investment Management LLC boosted its holdings in Apple by 2,245.0% during the second quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock worth $93,000 after buying an additional 449 shares in the last quarter. Finally, Horan Securities Inc. boosted its holdings in Apple by 64.2% during the second quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock worth $112,000 after buying an additional 221 shares in the last quarter. 58.63% of the stock is currently owned by institutional investors.

AAPL traded down $3.23 during midday trading on Friday, reaching $217.73. 32,105,176 shares of the company’s stock were exchanged, compared to its average volume of 25,118,448. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.50 and a quick ratio of 1.47. The stock has a market capitalization of $1,006.74 billion, a PE ratio of 18.28, a P/E/G ratio of 1.83 and a beta of 1.24. The business’s 50-day moving average price is $208.80 and its 200 day moving average price is $198.30. Apple Inc. has a 1-year low of $142.00 and a 1-year high of $233.47.

Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.08. The company had revenue of $53.81 billion during the quarter, compared to analysts’ expectations of $53.39 billion. Apple had a net margin of 21.50% and a return on equity of 52.13%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.34 earnings per share. As a group, analysts expect that Apple Inc. will post 11.69 EPS for the current fiscal year.

A number of analysts recently commented on the stock. Bank of America reissued a “buy” rating and set a $250.00 price objective (up previously from $240.00) on shares of Apple in a report on Wednesday, September 11th. Daiwa Capital Markets set a $223.00 price objective on shares of Apple and gave the stock a “buy” rating in a report on Wednesday, August 7th. Monness Crespi & Hardt reissued a “buy” rating and set a $265.00 price objective (up previously from $245.00) on shares of Apple in a report on Wednesday, July 31st. Morgan Stanley set a $247.00 price objective on shares of Apple and gave the stock a “buy” rating in a report on Wednesday. Finally, Macquarie set a $210.00 price objective on shares of Apple and gave the stock a “hold” rating in a report on Tuesday, September 10th. Four equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Apple presently has an average rating of “Hold” and a consensus target price of $218.08.

In other news, insider Chris Kondo sold 4,376 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $217.47, for a total value of $951,648.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy D. Cook sold 265,160 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $206.17, for a total transaction of $54,668,037.20. The disclosure for this sale can be found here. In the last three months, insiders sold 304,536 shares of company stock valued at $62,894,611. Company insiders own 0.05% of the company’s stock.

Apple Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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