4,907 Shares in Apple Inc. $AAPL Acquired by IronOak Wealth LLC.

Key Points

• IronOak Wealth LLC acquired 4,907 shares of Apple Inc. ($AAPL) during the second quarter, valued at approximately $1,007,000.
• Multiple institutional investors have recently adjusted their positions in Apple, contributing to a total institutional ownership of 67.73% of the company's stock.
• Apple reported earnings of $1.57 per share for the last quarter, surpassing expectations, with revenue of $94.04 billion compared to an anticipated $88.64 billion.

IronOak Wealth LLC. acquired a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 4,907 shares of the iPhone maker's stock, valued at approximately $1,007,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Burkett Financial Services LLC lifted its position in Apple by 0.6% during the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock worth $3,199,000 after buying an additional 93 shares in the last quarter. Avid Wealth Partners LLC lifted its position in Apple by 28.3% during the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock worth $935,000 after buying an additional 930 shares in the last quarter. Bell & Brown Wealth Advisors LLC raised its position in Apple by 0.4% in the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker's stock valued at $13,772,000 after purchasing an additional 240 shares during the period. OneAscent Wealth Management LLC raised its position in Apple by 4.6% in the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock valued at $2,337,000 after purchasing an additional 409 shares during the period. Finally, Andina Capital Management LLC raised its position in Apple by 209.2% in the first quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker's stock valued at $1,507,000 after purchasing an additional 4,591 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on AAPL. Raymond James Financial restated an "outperform" rating and issued a $240.00 target price (up previously from $230.00) on shares of Apple in a research report on Friday, August 1st. Jefferies Financial Group restated an "underperform" rating and issued a $205.16 target price (down previously from $205.82) on shares of Apple in a research report on Friday. Morgan Stanley set a $298.00 target price on Apple and gave the company an "overweight" rating in a research report on Thursday. Rosenblatt Securities lifted their target price on Apple from $223.00 to $241.00 and gave the company a "neutral" rating in a research report on Wednesday, September 10th. Finally, Needham & Company LLC restated a "hold" rating on shares of Apple in a research report on Friday, July 25th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $247.49.

Apple Trading Up 0.3%

AAPL opened at $258.02 on Friday. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The stock has a market capitalization of $3.83 trillion, a price-to-earnings ratio of 39.15, a PEG ratio of 2.49 and a beta of 1.09. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The business has a fifty day moving average price of $233.09 and a 200 day moving average price of $214.69.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business's quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.40 EPS. Sell-side analysts expect 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, August 14th. Stockholders of record on Monday, August 11th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple's dividend payout ratio is currently 15.78%.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 129,963 shares of the company's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the completion of the transaction, the chief executive officer directly owned 3,280,295 shares of the company's stock, valued at approximately $842,412,558.95. This represents a 3.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Deirdre O'brien sold 43,013 shares of the company's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the transaction, the senior vice president directly owned 136,687 shares of the company's stock, valued at approximately $35,181,866.93. This represents a 23.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 254,922 shares of company stock valued at $64,320,190. 0.06% of the stock is currently owned by corporate 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.

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