Benedict Financial Advisors Inc. Acquires 201 Shares of Apple Inc. (AAPL)
Benedict Financial Advisors Inc. increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 39,107 shares of the iPhone maker’s stock after purchasing an additional 201 shares during the quarter. Apple accounts for 3.1% of Benedict Financial Advisors Inc.’s holdings, making the stock its 3rd biggest position. Benedict Financial Advisors Inc.’s holdings in Apple were worth $5,877,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Pinnacle Bank bought a new position in shares of Apple during the 1st quarter worth approximately $1,924,000. Regent Investment Management LLC grew its stake in shares of Apple by 0.7% during the 1st quarter. Regent Investment Management LLC now owns 56,447 shares of the iPhone maker’s stock worth $8,109,000 after acquiring an additional 397 shares in the last quarter. Hartwell J M Limited Partnership grew its stake in shares of Apple by 28.1% during the 1st quarter. Hartwell J M Limited Partnership now owns 81,425 shares of the iPhone maker’s stock worth $11,698,000 after acquiring an additional 17,867 shares in the last quarter. Highwater Wealth Management LLC grew its stake in shares of Apple by 64.7% during the 1st quarter. Highwater Wealth Management LLC now owns 4,449 shares of the iPhone maker’s stock worth $639,000 after acquiring an additional 1,748 shares in the last quarter. Finally, Affinity Wealth Management grew its stake in shares of Apple by 11.3% during the 1st quarter. Affinity Wealth Management now owns 7,110 shares of the iPhone maker’s stock worth $1,021,000 after acquiring an additional 720 shares in the last quarter. 60.30% of the stock is owned by institutional investors and hedge funds.
Apple Inc. (NASDAQ:AAPL) opened at $174.81 on Wednesday. Apple Inc. has a 1 year low of $104.08 and a 1 year high of $175.25. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 1.28. The company has a market capitalization of $894,653.88, a price-to-earnings ratio of 18.94, a PEG ratio of 1.40 and a beta of 1.23.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.20. Apple had a return on equity of 36.29% and a net margin of 21.09%. The firm had revenue of $52.58 billion for the quarter, compared to analysts’ expectations of $50.71 billion. During the same quarter in the prior year, the firm earned $1.50 EPS. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. sell-side analysts forecast that Apple Inc. will post 11.14 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, November 13th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, November 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.44%. Apple’s dividend payout ratio is presently 27.39%.
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In related news, SVP Johny Srouji sold 10,469 shares of the stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $162.20, for a total transaction of $1,698,071.80. Following the sale, the senior vice president now owns 76,250 shares of the company’s stock, valued at approximately $12,367,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Philip W. Schiller sold 56,808 shares of the stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $154.70, for a total value of $8,788,197.60. The disclosure for this sale can be found here. Insiders have sold a total of 411,389 shares of company stock worth $65,364,467 in the last ninety days. Insiders own 0.08% of the company’s stock.
Several equities analysts have recently weighed in on the stock. Argus raised their price target on shares of Apple from $185.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday. KeyCorp reissued a “buy” rating and issued a $192.00 target price on shares of Apple in a research note on Friday, November 3rd. Deutsche Bank AG reissued a “hold” rating and issued a $152.00 target price on shares of Apple in a research note on Friday, November 3rd. Canaccord Genuity reissued a “buy” rating and issued a $195.00 target price (up from $180.00) on shares of Apple in a research note on Friday, November 3rd. Finally, Morgan Stanley set a $200.00 target price on shares of Apple and gave the company a “buy” rating in a research note on Friday, November 3rd. Seven equities research analysts have rated the stock with a hold rating and forty-six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $199.14.
Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
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