Capital Advisors Wealth Management LLC Acquires 3,244 Shares of Apple Inc. (NASDAQ:AAPL)

Capital Advisors Wealth Management LLC raised its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 6.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,188 shares of the iPhone maker's stock after purchasing an additional 3,244 shares during the quarter. Apple comprises 2.2% of Capital Advisors Wealth Management LLC's investment portfolio, making the stock its 12th biggest position. Capital Advisors Wealth Management LLC's holdings in Apple were worth $12,481,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Advanced Portfolio Management LLC increased its position in Apple by 0.3% in the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock worth $3,260,000 after buying an additional 47 shares during the last quarter. Family Capital Management Inc. increased its position in Apple by 0.3% in the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock worth $4,235,000 after buying an additional 48 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its position in Apple by 0.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock worth $4,178,000 after buying an additional 48 shares during the last quarter. Salus Financial Advisors LLC increased its position in Apple by 3.9% in the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker's stock worth $291,000 after buying an additional 49 shares during the last quarter. Finally, Scarborough Advisors LLC boosted its holdings in shares of Apple by 0.3% in the fourth quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker's stock worth $3,992,000 after acquiring an additional 51 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AAPL. UBS Group raised their price target on Apple from $210.00 to $220.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. TD Cowen cut their price target on Apple from $290.00 to $275.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Wedbush reaffirmed an "outperform" rating and issued a $270.00 price target on shares of Apple in a report on Thursday, August 7th. Barclays raised their price target on Apple from $173.00 to $180.00 and gave the stock an "underweight" rating in a report on Friday, August 1st. Finally, BMO Capital Markets reissued a "buy" rating on shares of Apple in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Apple presently has an average rating of "Moderate Buy" and an average price target of $237.60.

Apple Price Performance

NASDAQ AAPL traded down $1.19 during trading hours on Friday, reaching $231.59. 56,003,275 shares of the stock traded hands, compared to its average volume of 63,552,584. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a 50 day simple moving average of $209.69 and a two-hundred day simple moving average of $213.33. The company has a market cap of $3.44 trillion, a price-to-earnings ratio of 35.14, a price-to-earnings-growth ratio of 2.44 and a beta of 1.16.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $88.64 billion. During the same quarter in the previous year, the company posted $1.40 EPS. Apple's revenue for the quarter was up 9.6% on a year-over-year basis. On average, analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

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

Apple declared that its board has approved a share repurchase plan on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of the business's stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company 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.