Aurora Private Wealth Inc. Purchases 404,891 Shares of Apple Inc. (NASDAQ:AAPL)

Aurora Private Wealth Inc. lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1,216.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 438,163 shares of the iPhone maker's stock after purchasing an additional 404,891 shares during the quarter. Apple comprises about 2.7% of Aurora Private Wealth Inc.'s holdings, making the stock its 5th biggest holding. Aurora Private Wealth Inc.'s holdings in Apple were worth $97,329,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Burkett Financial Services LLC increased its position in Apple by 0.6% during the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock worth $3,199,000 after purchasing an additional 93 shares during the period. Avid Wealth Partners LLC lifted its holdings in Apple by 28.3% in the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock valued at $935,000 after purchasing an additional 930 shares in the last quarter. OneAscent Wealth Management LLC raised its position in shares of 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 buying an additional 409 shares during the last quarter. TruWealth Advisors LLC lifted its stake in shares of Apple by 2.8% during the first quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker's stock valued at $42,045,000 after buying an additional 5,120 shares during the period. Finally, Allstate Corp raised its holdings in Apple by 3,368.2% in the 4th quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock valued at $113,062,000 after acquiring an additional 438,471 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insiders Place Their Bets

In related news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider directly owned 15,533 shares of the company's stock, valued at $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AAPL shares. Barclays upped their price objective on shares of Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a research note on Friday, August 1st. DA Davidson reiterated a "buy" rating and issued a $250.00 price target on shares of Apple in a report on Friday, August 1st. Morgan Stanley upped their price objective on Apple from $235.00 to $240.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Jefferies Financial Group upgraded Apple from an "underperform" rating to a "hold" rating in a report on Friday, July 18th. Finally, Evercore ISI upped their price target on Apple to $250.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $237.60.

Apple Price Performance

AAPL traded up $9.32 on Friday, reaching $229.35. The company had a trading volume of 113,661,399 shares, compared to its average volume of 57,968,961. The company has a market capitalization of $3.40 trillion, a P/E ratio of 34.80, a PEG ratio of 2.24 and a beta of 1.16. 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 company has a fifty day moving average of $206.24 and a 200-day moving average of $213.17. Apple Inc. has a one year low of $169.21 and a one year high of $260.10.

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

Apple announced that its Board of Directors has approved a share repurchase plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Monday, August 11th will be issued a $0.26 dividend. The ex-dividend date is Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.5%. Apple's dividend payout ratio is 15.78%.

Apple 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.