International Private Wealth Advisors LLC Has $2.58 Million Stake in Apple Inc. $AAPL

Key Points

• International Private Wealth Advisors LLC reduced its stake in Apple Inc. by 39.6%, now holding 12,574 shares valued at $2.58 million.
• Wall Street analysts maintain a positive outlook on Apple, with a consensus price target of $245.66 and ratings ranging from "Strong Buy" to "Sell".
• Apple recently announced a quarterly dividend of $0.26 per share, reflecting a 0.4% dividend yield and a payout ratio of 15.78%.

International Private Wealth Advisors LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 39.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,574 shares of the iPhone maker's stock after selling 8,240 shares during the quarter. Apple comprises 2.2% of International Private Wealth Advisors LLC's investment portfolio, making the stock its 11th biggest holding. International Private Wealth Advisors LLC's holdings in Apple were worth $2,580,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Ryan Investment Management Inc. acquired a new stake in shares of Apple during the 2nd quarter worth approximately $31,000. ROSS JOHNSON & Associates LLC boosted its stake in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after acquiring an additional 180 shares in the last quarter. Conquis Financial LLC bought a new position in Apple during the fourth quarter worth $63,000. LSV Asset Management acquired a new stake in Apple in the fourth quarter worth $65,000. Finally, Elite Financial Inc. bought a new stake in Apple in the first quarter valued at $58,000. 67.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several research reports. Tigress Financial raised their target price on Apple from $300.00 to $305.00 and gave the company a "strong-buy" rating in a research note on Wednesday, September 17th. BMO Capital Markets reaffirmed a "buy" rating on shares of Apple in a research report on Wednesday, August 13th. Wedbush set a $310.00 price target on shares of Apple and gave the company an "outperform" rating in a research report on Monday, September 22nd. Sanford C. Bernstein assumed coverage on shares of Apple in a report on Monday, September 15th. They set an "outperform" rating and a $290.00 price objective on the stock. Finally, Phillip Securities lowered shares of Apple from a "hold" rating to a "moderate sell" rating and set a $200.00 price objective on the stock. in a research note on Thursday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $245.66.

Apple Trading Down 0.5%

NASDAQ:AAPL opened at $255.46 on Monday. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The firm has a 50-day moving average price of $228.87 and a two-hundred day moving average price of $213.22. 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 firm has a market cap of $3.79 trillion, a price-to-earnings ratio of 38.76, a price-to-earnings-growth ratio of 2.65 and a beta of 1.11.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. The firm had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company's revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.40 EPS. On average, equities analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 0.4%. Apple's dividend payout ratio (DPR) is currently 15.78%.

Insider Activity at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of Apple stock in a transaction on Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the sale, the senior vice president directly owned 136,687 shares in the company, valued at $30,508,538.40. The trade was a 20.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.06% of the stock is owned by 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.

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