ARS Wealth Advisors Group LLC Makes New Investment in Apple Inc. $AAPL

Key Points

• ARS Wealth Advisors Group LLC purchased 178,098 shares of Apple Inc., valued at approximately $36.5 million, making it the firm's 5th largest holding.
• Apple reported $1.57 EPS for the latest quarter, surpassing estimates, with a revenue of $94.04 billion, a year-over-year increase of 9.6%.
• Apple's recent quarterly dividend was $0.26 per share, representing an annualized yield of 0.4% with a payout ratio of 15.78%.

ARS Wealth Advisors Group LLC purchased a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 178,098 shares of the iPhone maker's stock, valued at approximately $36,540,000. Apple comprises 4.2% of ARS Wealth Advisors Group LLC's investment portfolio, making the stock its 5th largest holding.

Several other large investors also recently modified their holdings of the stock. ROSS JOHNSON & Associates LLC raised its stake in Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after acquiring an additional 180 shares during the period. Conquis Financial LLC bought a new position in shares of Apple in the fourth quarter worth $63,000. LSV Asset Management purchased a new position in Apple during the fourth quarter worth about $65,000. Elite Financial Inc. purchased a new stake in Apple in the first quarter valued at approximately $58,000. Finally, HFM Investment Advisors LLC bought a new position in shares of Apple in the 1st quarter worth $99,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Trading Down 0.5%

NASDAQ AAPL opened at $255.46 on Friday. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a 50 day simple moving average of $228.87 and a two-hundred day simple moving average of $213.22. The stock has a market cap of $3.79 trillion, a P/E ratio of 38.76, a price-to-earnings-growth ratio of 2.67 and a beta of 1.11.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. The company had revenue of $94.04 billion during 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 firm's revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.40 earnings per share. On average, analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

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. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple's payout ratio is presently 15.78%.

Insider Transactions at Apple

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. The Goldman Sachs Group reiterated a "buy" rating and set a $266.00 price target on shares of Apple in a research report on Tuesday, August 26th. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a report on Friday, July 25th. Rosenblatt Securities lifted their price objective on Apple from $223.00 to $241.00 and gave the stock a "neutral" rating in a report on Wednesday, September 10th. Citigroup restated a "buy" rating on shares of Apple in a research report on Wednesday, September 10th. Finally, 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 note on Friday, September 19th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $245.66.

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.

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