Biltmore Family Office LLC Buys 3,488 Shares of Apple Inc. $AAPL

Key Points

• Biltmore Family Office LLC increased its stake in Apple Inc. by 0.5% in the 1st quarter, acquiring an additional 3,488 shares, bringing its total to 763,563 shares, which are now valued at approximately $169.6 million.
• Analysts have raised their price targets for Apple, with UBS increasing it from $210 to $220 and Jefferies lifting it from $190.67 to $205.82, while the current consensus rating remains a “Moderate Buy”.
• Apple recently announced a quarterly dividend of $0.26, resulting in an annualized yield of 0.4%, with a payout ratio of 15.78% as of the last filing.

Biltmore Family Office LLC grew its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 763,563 shares of the iPhone maker's stock after acquiring an additional 3,488 shares during the quarter. Apple comprises approximately 28.9% of Biltmore Family Office LLC's investment portfolio, making the stock its largest holding. Biltmore Family Office LLC's holdings in Apple were worth $169,610,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Burkett Financial Services LLC boosted its position in Apple by 0.6% in 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 in the last quarter. Avid Wealth Partners LLC raised its stake 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 during the last quarter. OneAscent Wealth Management LLC raised its stake in Apple by 4.6% in the 4th 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 last quarter. Bell & Brown Wealth Advisors LLC raised its stake in Apple by 0.4% in the 1st 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 last quarter. Finally, TruWealth Advisors LLC increased its stake in shares of Apple by 2.8% in the 1st quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker's stock worth $42,045,000 after acquiring an additional 5,120 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AAPL. UBS Group raised their price objective on Apple from $210.00 to $220.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. 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. Jefferies Financial Group lifted their price objective on Apple from $190.67 to $205.82 and gave the company a "hold" rating in a research note on Monday. Rosenblatt Securities restated a "neutral" rating and set a $217.00 target price on shares of Apple in a research note on Tuesday, July 29th. Finally, Loop Capital cut their price target on Apple from $230.00 to $226.00 and set a "hold" rating on the stock in a research report on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $238.99.

Insider Buying and Selling

In related news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction 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 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 document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.06% of the company's stock.

Apple Stock Down 0.8%

AAPL opened at $237.88 on Tuesday. The business's fifty day moving average is $219.93 and its two-hundred day moving average is $212.35. 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 company has a market cap of $3.53 trillion, a price-to-earnings ratio of 36.10, a PEG ratio of 2.50 and a beta of 1.11. 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 earnings results on Thursday, July 31st. The iPhone maker reported $1.57 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 period in the previous year, the business earned $1.40 earnings per share. Apple's quarterly revenue was up 9.6% compared to the same quarter last year. Analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio is currently 15.78%.

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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