Austin Wealth Management LLC Buys 2,617 Shares of Apple Inc. $AAPL

Austin Wealth Management LLC raised its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 10.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,888 shares of the iPhone maker's stock after purchasing an additional 2,617 shares during the quarter. Apple accounts for 1.2% of Austin Wealth Management LLC's investment portfolio, making the stock its 25th largest position. Austin Wealth Management LLC's holdings in Apple were worth $6,019,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Life Planning Partners Inc purchased a new stake in Apple during the 4th quarter worth about $47,000. Elite Financial Inc. bought a new position in Apple during the 1st quarter worth approximately $58,000. Conquis Financial LLC purchased a new stake in Apple in the 4th quarter worth approximately $63,000. LSV Asset Management purchased a new position in shares of Apple in the 4th quarter valued at approximately $65,000. Finally, Pillar Financial Advisors LLC purchased a new position in shares of Apple in the 4th quarter valued at approximately $82,000. Institutional investors own 67.73% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AAPL shares. Barclays lifted their price objective on Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a research note on Friday, August 1st. Evercore ISI reaffirmed an "outperform" rating and issued a $250.00 price objective on shares of Apple in a report on Wednesday, August 13th. Citigroup boosted their price target on Apple from $240.00 to $245.00 and gave the company a "buy" rating in a report on Friday, August 1st. Bank of America reissued a "buy" rating and set a $250.00 price target on shares of Apple in a report on Monday. Finally, JPMorgan Chase & Co. upped their price objective on Apple from $250.00 to $255.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $237.37.

Insider Activity

In other news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $223.20, for a total value 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 represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is owned by company insiders.

Apple Stock Performance

Shares of AAPL opened at $232.56 on Friday. The stock has a market cap of $3.45 trillion, a P/E ratio of 35.29, a P/E/G ratio of 2.41 and a beta of 1.16. The stock has a 50-day moving average of $215.17 and a two-hundred day moving average of $213.08. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. 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 issued 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. 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 company's revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.40 EPS. As a group, research analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple's dividend payout ratio is presently 15.78%.

Apple declared that its Board of Directors has authorized a stock repurchase program on Thursday, May 1st that allows the company to repurchase $100.00 billion in shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its stock is undervalued.

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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