Caliber Wealth Management LLC KS Takes Position in Apple Inc. $AAPL

Key Points

• Caliber Wealth Management LLC KS invested approximately $13.12 million in Apple Inc., purchasing 59,069 shares, making it the firm's 9th largest investment.
• Insider selling was noted as SVP Deirdre O'brien sold 34,821 shares for about $7.77 million, reducing her ownership by 20.30%.
• Apple recently reported $1.57 EPS for the quarter, exceeding estimates, with a revenue of $94.04 billion, representing a 9.6% year-over-year increase.

Caliber Wealth Management LLC KS bought a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 59,069 shares of the iPhone maker's stock, valued at approximately $13,121,000. Apple makes up about 1.8% of Caliber Wealth Management LLC KS's investment portfolio, making the stock its 9th largest position.

A number of other hedge funds have also added to or reduced their stakes in AAPL. Conquis Financial LLC bought a new position in Apple during the fourth quarter worth about $63,000. LSV Asset Management purchased a new position in Apple in the 4th quarter worth approximately $65,000. Elite Financial Inc. purchased a new stake in Apple during the 1st quarter valued at $58,000. Pillar Financial Advisors LLC purchased a new position in Apple during the 4th quarter valued at about $82,000. Finally, Sellwood Investment Partners LLC bought a new stake in shares of Apple in the fourth quarter worth approximately $147,000. Institutional investors own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AAPL shares. Barclays boosted their target price on shares of Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a research report on Friday, August 1st. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research note on Friday, July 25th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $266.00 price target on shares of Apple in a research note on Tuesday, August 26th. UBS Group increased their target price on shares of Apple from $210.00 to $220.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Finally, Rosenblatt Securities reaffirmed a "neutral" rating and issued a $217.00 price target on shares of Apple in a research note on Tuesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $239.05.

Apple Stock Down 0.0%

Shares of NASDAQ:AAPL traded down $0.09 during trading on Friday, reaching $239.69. The stock had a trading volume of 54,829,143 shares, compared to its average volume of 47,688,568. The company has a market capitalization of $3.56 trillion, a P/E ratio of 36.37, a PEG ratio of 2.50 and a beta of 1.11. 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 firm's 50-day simple moving average is $219.28 and its 200 day simple moving average is $212.86. 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 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $88.64 billion. During the same quarter last year, the company earned $1.40 EPS. The business's revenue was up 9.6% on a year-over-year basis. As a group, research analysts expect 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 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 payout ratio is currently 15.78%.

Insider Transactions at Apple

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the 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 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 legal filing with the SEC, which can be accessed through this link. 0.06% of the stock is owned by company insiders.

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.