Apple Inc. $AAPL Stock Position Lessened by BetterWealth LLC

Key Points

• BetterWealth LLC reduced its stake in Apple Inc. by 2.0% during the 2nd quarter, holding 144,586 shares valued at approximately $29.67 million.
• Apple's most recent earnings report revealed a 9.6% increase in revenue year-over-year, reporting $94.04 billion and exceeding analysts' estimates.
• Wall Street analysts maintain a Moderate Buy rating for Apple, with price targets ranging from $226 to $290, reflecting varied outlooks on the stock's performance.

BetterWealth LLC lessened its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,586 shares of the iPhone maker's stock after selling 2,898 shares during the quarter. Apple comprises 7.6% of BetterWealth LLC's holdings, making the stock its 5th biggest position. BetterWealth LLC's holdings in Apple were worth $29,665,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Ryan Investment Management Inc. purchased a new stake in Apple during the 2nd quarter worth approximately $31,000. ROSS JOHNSON & Associates LLC raised its holdings in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after buying an additional 180 shares during the last quarter. Life Planning Partners Inc acquired a new stake in shares of Apple during the fourth quarter worth $47,000. Elite Financial Inc. purchased a new stake in shares of Apple during the first quarter valued at $58,000. Finally, Conquis Financial LLC acquired a new position in shares of Apple in the 4th quarter valued at $63,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of research reports. Monness Crespi & Hardt lifted their price target on Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Loop Capital cut their price objective on Apple from $230.00 to $226.00 and set a "hold" rating on the stock in a report on Thursday, August 21st. Melius Research set a $290.00 target price on Apple and gave the stock a "buy" rating in a report on Wednesday, September 10th. JPMorgan Chase & Co. upped their target price on Apple from $255.00 to $280.00 and gave the company an "overweight" rating in a research report on Friday, September 19th. Finally, Evercore ISI set a $290.00 price target on shares of Apple and gave the stock an "outperform" rating in a research report on Friday, September 26th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and an average price target of $247.51.

Apple Price Performance

NASDAQ:AAPL opened at $257.13 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The stock's 50-day moving average price is $232.20 and its 200-day moving average price is $214.38. The stock has a market capitalization of $3.82 trillion, a PE ratio of 39.02, a price-to-earnings-growth ratio of 2.48 and a beta of 1.09.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter in the prior year, the business posted $1.40 earnings per share. Apple's revenue for the quarter was up 9.6% on a year-over-year basis. As a group, equities analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple's dividend payout ratio (DPR) is currently 15.78%.

Insider Buying and Selling

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction 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 transaction, the senior vice president directly owned 136,687 shares in the company, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.06% of the company's stock.

Apple Company Profile

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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