Sound Income Strategies LLC Grows Holdings in Apple Inc. (AAPL)

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Sound Income Strategies LLC raised its position in Apple Inc. (NASDAQ:AAPL) by 79.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 6,571 shares of the iPhone maker’s stock after acquiring an additional 2,903 shares during the quarter. Apple comprises approximately 0.7% of Sound Income Strategies LLC’s holdings, making the stock its 20th largest position. Sound Income Strategies LLC’s holdings in Apple were worth $1,483,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Delphi Private Advisors LLC acquired a new position in shares of Apple during the second quarter worth about $120,000. Quattro Financial Advisors LLC acquired a new position in shares of Apple during the first quarter worth about $133,000. CX Institutional acquired a new position in shares of Apple during the second quarter worth about $135,000. Gainplan LLC acquired a new position in shares of Apple during the first quarter worth about $200,000. Finally, Diversified Investment Strategies LLC acquired a new position in shares of Apple during the second quarter worth about $206,000. 57.08% of the stock is owned by institutional investors.

In other news, COO Jeffrey E. Williams sold 61,998 shares of the company’s stock in a transaction that occurred on Wednesday, October 3rd. The stock was sold at an average price of $232.33, for a total transaction of $14,403,995.34. Following the completion of the sale, the chief operating officer now owns 124,695 shares in the company, valued at $28,970,389.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Luca Maestri sold 100,245 shares of the company’s stock in a transaction that occurred on Thursday, October 4th. The stock was sold at an average price of $228.56, for a total value of $22,911,997.20. Following the sale, the insider now owns 91,665 shares of the company’s stock, valued at approximately $20,950,952.40. The disclosure for this sale can be found here. Insiders have sold 204,845 shares of company stock valued at $47,015,677 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Apple stock opened at $166.07 on Wednesday. Apple Inc. has a 12 month low of $150.24 and a 12 month high of $233.47. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.12 and a quick ratio of 1.09. The company has a market cap of $805.79 billion, a PE ratio of 13.94, a P/E/G ratio of 1.18 and a beta of 1.20.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, November 1st. The iPhone maker reported $2.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.78 by $0.13. Apple had a return on equity of 48.68% and a net margin of 22.41%. The business had revenue of $62.90 billion during the quarter, compared to analysts’ expectations of $61.55 billion. During the same quarter in the prior year, the business earned $2.07 earnings per share. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apple Inc. will post 13.33 EPS for the current fiscal year.

A number of equities analysts have recently commented on AAPL shares. UBS Group began coverage on Apple in a research report on Wednesday, September 12th. Maxim Group upped their price target on Apple to $221.00 and gave the company an “average” rating in a report on Thursday, September 13th. Royal Bank of Canada upped their price target on Apple to $250.00 and gave the company an “average” rating in a report on Wednesday, September 26th. Tigress Financial reaffirmed a “buy” rating on shares of Apple in a report on Thursday, August 30th. Finally, HSBC set a $205.00 price target on Apple and gave the company a “buy” rating in a report on Thursday, August 30th. Three analysts have rated the stock with a sell rating, twenty-four have given a hold rating and twenty-four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $222.77.

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Apple Company 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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