Jupiter Wealth Management LLC Has $10.08 Million Position in Apple Inc. $AAPL

Key Points

• Jupiter Wealth Management LLC reduced its stake in Apple by 20.1%, holding 48,290 shares worth approximately $10.08 million, which represents 6.4% of their investment portfolio.
• Apple reported earnings of $1.57 per share for the most recent quarter, surpassing analysts' expectations, with revenues of $94.04 billion, a 9.6% increase from the previous year.
• The company declared a quarterly dividend of $0.26 per share, resulting in an annualized dividend of $1.04 and a dividend yield of 0.4%.

Jupiter Wealth Management LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 20.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 48,290 shares of the iPhone maker's stock after selling 12,139 shares during the period. Apple makes up 6.4% of Jupiter Wealth Management LLC's investment portfolio, making the stock its 4th biggest position. Jupiter Wealth Management LLC's holdings in Apple were worth $10,082,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Integrity Alliance LLC. lifted its holdings in shares of Apple by 567.0% during the 1st quarter. Integrity Alliance LLC. now owns 322,317 shares of the iPhone maker's stock worth $71,596,000 after acquiring an additional 273,995 shares during the last quarter. Ransom Advisory Ltd bought a new stake in shares of Apple during the 1st quarter worth $20,695,000. Anchor Investment Management LLC lifted its holdings in shares of Apple by 4.5% during the 1st quarter. Anchor Investment Management LLC now owns 135,648 shares of the iPhone maker's stock worth $30,132,000 after acquiring an additional 5,839 shares during the last quarter. SageView Advisory Group LLC lifted its holdings in shares of Apple by 2.1% during the 1st quarter. SageView Advisory Group LLC now owns 188,051 shares of the iPhone maker's stock worth $41,772,000 after acquiring an additional 3,915 shares during the last quarter. Finally, Advisory Alpha LLC lifted its holdings in shares of Apple by 9.2% during the 1st quarter. Advisory Alpha LLC now owns 129,951 shares of the iPhone maker's stock worth $28,866,000 after acquiring an additional 10,968 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Deirdre O'brien sold 34,821 shares of Apple stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.06% of the company's stock.

Apple Price Performance

AAPL stock opened at $234.07 on Friday. The firm's 50-day moving average price is $221.50 and its two-hundred day moving average price is $212.20. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The stock has a market capitalization of $3.47 trillion, a price-to-earnings ratio of 35.52, a PEG ratio of 2.39 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.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $94.04 billion for the quarter, compared to analysts' expectations of $88.64 billion. During the same quarter in the previous year, the company earned $1.40 earnings per share. The company's revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were given a $0.26 dividend. The ex-dividend date 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 presently 15.78%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Rosenblatt Securities lifted their price objective on shares of Apple from $223.00 to $241.00 and gave the stock a "neutral" rating in a report on Wednesday. Bank of America lifted their price objective on shares of Apple from $260.00 to $270.00 and gave the stock a "buy" rating in a report on Wednesday. Moffett Nathanson upgraded shares of Apple from a "sell" rating to a "neutral" rating and set a $225.00 target price on the stock in a research report on Thursday, September 4th. BMO Capital Markets reiterated a "buy" rating on shares of Apple in a research report on Wednesday, August 13th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $266.00 target price on shares of Apple in a research report on Tuesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $240.80.

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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