Apple Inc. (NASDAQ:AAPL) Shares Purchased by Long Run Wealth Advisors LLC

Long Run Wealth Advisors LLC raised its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 10.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,237 shares of the iPhone maker's stock after buying an additional 2,969 shares during the period. Apple comprises approximately 1.6% of Long Run Wealth Advisors LLC's investment portfolio, making the stock its 17th biggest position. Long Run Wealth Advisors LLC's holdings in Apple were worth $6,939,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. GenWealth Group Inc. raised its holdings in shares of Apple by 14.0% during the 1st quarter. GenWealth Group Inc. now owns 10,616 shares of the iPhone maker's stock valued at $2,358,000 after purchasing an additional 1,301 shares in the last quarter. Brand Asset Management Group Inc. boosted its position in shares of Apple by 1.1% during the 1st quarter. Brand Asset Management Group Inc. now owns 10,291 shares of the iPhone maker's stock valued at $2,286,000 after acquiring an additional 111 shares in the last quarter. TruWealth Advisors LLC boosted its position in shares of Apple by 2.8% during the 1st quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker's stock valued at $42,045,000 after acquiring an additional 5,120 shares in the last quarter. Granite Bay Wealth Management LLC lifted its holdings in Apple by 1.1% during the 1st quarter. Granite Bay Wealth Management LLC now owns 37,018 shares of the iPhone maker's stock valued at $8,223,000 after purchasing an additional 415 shares during the last quarter. Finally, Firethorn Wealth Partners LLC lifted its holdings in Apple by 4.0% during the 1st quarter. Firethorn Wealth Partners LLC now owns 26,615 shares of the iPhone maker's stock valued at $5,912,000 after purchasing an additional 1,027 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the sale, the insider directly owned 15,533 shares in the company, valued at $3,233,815.27. This represents a 22.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the sale, the chief financial officer owned 4,569 shares of the company's stock, valued at approximately $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company's stock.

Apple Trading Up 0.4%

Shares of NASDAQ AAPL traded up $0.92 during trading hours on Friday, hitting $213.36. 34,955,836 shares of the company traded hands, compared to its average volume of 53,594,994. 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 $3.19 trillion, a price-to-earnings ratio of 33.23, a price-to-earnings-growth ratio of 2.38 and a beta of 1.20. The company's 50 day moving average price is $203.35 and its 200 day moving average price is $218.86. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. The firm had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The firm's quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.53 EPS. On average, equities research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple declared that its board has initiated a stock buyback plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were paid a dividend of $0.26 per share. This is a boost from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, May 12th. Apple's dividend payout ratio is 16.20%.

Analyst Ratings Changes

AAPL has been the subject of a number of research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Apple from $245.00 to $230.00 and set an "overweight" rating for the company in a research note on Thursday, June 26th. Rosenblatt Securities cut shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 price target for the company. in a report on Friday, May 2nd. KeyCorp upgraded shares of Apple from an "underweight" rating to a "sector weight" rating in a report on Monday, April 14th. Needham & Company LLC restated a "hold" rating on shares of Apple in a report on Tuesday, June 10th. Finally, Monness Crespi & Hardt increased their price target on shares of Apple to $245.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Apple has a consensus rating of "Moderate Buy" and an average target price of $234.95.

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.