BostonPremier Wealth LLC Purchases 5,423 Shares of Apple Inc. $AAPL

Key Points

• BostonPremier Wealth LLC increased its shares in Apple by 19.7%, acquiring an additional 5,423 shares during Q2, raising its total holdings to 33,017 shares valued at approximately $6.77 million.
• A number of analysts have set new price targets for Apple, with Wedbush at $310.00 and Bank of America at $270.00, indicating a generally positive outlook for the stock.
• Insider trading reports reveal that Apple executives, including CEO Timothy D. Cook, sold a significant number of shares recently, totaling over $64 million in value, suggesting potential shifts in confidence among leadership.

BostonPremier Wealth LLC raised its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 19.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,017 shares of the iPhone maker's stock after buying an additional 5,423 shares during the quarter. Apple accounts for 3.8% of BostonPremier Wealth LLC's holdings, making the stock its 9th biggest holding. BostonPremier Wealth LLC's holdings in Apple were worth $6,774,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ryan Investment Management Inc. acquired a new position in Apple in the 2nd quarter valued at $31,000. ROSS JOHNSON & Associates LLC grew its holdings 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 buying an additional 180 shares in the last quarter. Conquis Financial LLC bought a new stake in shares of Apple during the 4th quarter valued at $63,000. LSV Asset Management bought a new stake in shares of Apple during the 4th quarter valued at $65,000. Finally, Elite Financial Inc. bought a new stake in shares of Apple during the 1st quarter valued at $58,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. UBS Group reiterated a "neutral" rating on shares of Apple in a research report on Monday, September 8th. Wedbush set a $310.00 target price on Apple and gave the company an "outperform" rating in a research report on Monday, September 22nd. Bank of America upped their target price on Apple from $260.00 to $270.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. The Goldman Sachs Group reiterated a "buy" rating and set a $266.00 target price on shares of Apple in a research report on Tuesday, August 26th. Finally, Moffett Nathanson upgraded Apple from a "sell" rating to a "neutral" rating and set a $225.00 target price for the company in a research report on Thursday, September 4th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and a consensus price target of $247.49.

Apple Price Performance

Shares of AAPL opened at $256.48 on Wednesday. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The business has a 50-day simple moving average of $234.84 and a two-hundred day simple moving average of $215.25. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The stock has a market cap of $3.81 trillion, a PE ratio of 38.92, a PEG ratio of 2.50 and a beta of 1.09.

Apple (NASDAQ:AAPL - Get Free Report) last issued its 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 business had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. During the same quarter in the prior year, the firm earned $1.40 EPS. The business's revenue for the quarter was up 9.6% compared to the same quarter last year. Analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal 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 $0.26 dividend. 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 dividend payout ratio is presently 15.78%.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O'brien sold 43,013 shares of the company's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the completion of the transaction, the senior vice president owned 136,687 shares of the company's stock, valued at $35,181,866.93. This represents a 23.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy D. Cook sold 129,963 shares of the company's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the transaction, the chief executive officer directly owned 3,280,295 shares of the company's stock, valued at approximately $842,412,558.95. The trade was a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 254,922 shares of company stock valued at $64,320,190 in the last 90 days. Corporate insiders own 0.06% of the company's stock.

About Apple

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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