21 West Wealth Management LLC purchased a new position in Apple Inc. (NASDAQ:AAPL - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,924 shares of the iPhone maker's stock, valued at approximately $1,215,000.
Other institutional investors have also recently made changes to their positions in the company. ROSS JOHNSON & Associates LLC lifted its holdings in shares of Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after purchasing an additional 180 shares during the period. Conquis Financial LLC acquired a new position in shares of Apple in the 4th quarter valued at $63,000. LSV Asset Management acquired a new position in Apple during the 4th quarter worth about $65,000. Elite Financial Inc. acquired a new stake in Apple in the 1st quarter valued at about $58,000. Finally, HFM Investment Advisors LLC purchased a new position in shares of Apple in the 1st quarter valued at about $99,000. Hedge funds and other institutional investors own 67.73% of the company's stock.
Apple Stock Up 3.2%
Shares of Apple stock traded up $7.62 during trading hours on Friday, reaching $245.50. 163,435,991 shares of the company's stock were exchanged, compared to its average volume of 47,568,860. The company has a 50 day moving average of $224.35 and a two-hundred day moving average of $212.26. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. 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 stock has a market cap of $3.64 trillion, a P/E ratio of 37.25, a P/E/G ratio of 2.55 and a beta of 1.11.
Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping analysts' consensus estimates 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 was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.40 earnings per share. On average, sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were given a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple's dividend payout ratio (DPR) is 15.78%.
Analyst Ratings Changes
Several equities analysts recently issued reports on AAPL shares. Jefferies Financial Group lifted their price objective on Apple from $190.67 to $205.82 and gave the stock a "hold" rating in a report on Monday, September 8th. Needham & Company LLC restated a "hold" rating on shares of Apple in a research note on Friday, July 25th. The Goldman Sachs Group reissued a "buy" rating and issued a $266.00 price objective on shares of Apple in a report on Tuesday, August 26th. JPMorgan Chase & Co. increased their price objective on Apple from $255.00 to $280.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Evercore ISI increased their target price on Apple from $250.00 to $260.00 and gave the company an "outperform" rating in a report on Wednesday, September 10th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $242.74.
Check Out Our Latest Analysis on AAPL
Insider Transactions at Apple
In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the sale, the senior vice president directly owned 136,687 shares in the company, valued at $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.06% of the stock is owned by company insiders.
Apple Company Profile
(
Free Report)
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.
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