Moneywise Inc. Has $611,000 Stock Position in Apple Inc. $AAPL

Key Points

• Moneywise Inc. significantly increased its investment in Apple Inc. by 96.4% during the second quarter, amassing a total of $611,000 in shares.
• Institutional investors and hedge funds collectively own 67.73% of Apple's stock, highlighting strong institutional interest.
• Apple reported a Q2 earnings per share (EPS) of $1.57, exceeding analyst expectations and showing a 9.6% year-over-year revenue growth.

Moneywise Inc. grew its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 96.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,976 shares of the iPhone maker's stock after purchasing an additional 1,461 shares during the quarter. Moneywise Inc.'s holdings in Apple were worth $611,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Kingstone Capital Partners Texas LLC boosted its stake in shares of Apple by 573,627.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker's stock worth $39,065,374,000 after acquiring an additional 205,656,808 shares during the period. Nuveen LLC bought a new position in shares of Apple during the 1st quarter worth approximately $17,472,482,000. GAMMA Investing LLC boosted its stake in shares of Apple by 25,934.1% during the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker's stock worth $133,425,490,000 after acquiring an additional 59,835,676 shares during the period. Northern Trust Corp boosted its stake in shares of Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after acquiring an additional 20,079,472 shares during the period. Finally, Amundi boosted its stake in shares of Apple by 27.4% during the 1st quarter. Amundi now owns 68,190,569 shares of the iPhone maker's stock worth $13,870,795,000 after acquiring an additional 14,651,321 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Activity

In other news, SVP Deirdre O'brien sold 43,013 shares of the stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the completion of the sale, the senior vice president owned 136,687 shares of the company's stock, valued at approximately $35,181,866.93. This represents a 23.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the sale, the chief executive officer directly owned 3,280,295 shares of the company's stock, valued at approximately $842,412,558.95. The trade was a 3.81% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 254,922 shares of company stock valued at $64,320,190. Company insiders own 0.06% of the company's stock.

Apple Price Performance

Shares of AAPL opened at $258.06 on Thursday. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The business has a 50-day simple moving average of $235.82 and a two-hundred day simple moving average of $215.55. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The stock has a market cap of $3.83 trillion, a PE ratio of 39.16, a PEG ratio of 2.50 and a beta of 1.09.

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

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid a $0.26 dividend. 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 is presently 15.78%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Rosenblatt Securities boosted their price target on Apple from $223.00 to $241.00 and gave the company a "neutral" rating in a research note on Wednesday, September 10th. Weiss Ratings restated a "hold (c+)" rating on shares of Apple in a research note on Wednesday. CLSA upgraded Apple to a "strong-buy" rating in a research note on Sunday. Moffett Nathanson upgraded Apple from a "sell" rating to a "neutral" rating and set a $225.00 price target for the company in a research note on Thursday, September 4th. Finally, Raymond James Financial restated an "outperform" rating and issued a $240.00 price target (up from $230.00) on shares of Apple in a research note on Friday, August 1st. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Apple currently has an average rating of "Moderate Buy" and an average target price of $248.29.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.