Moss Adams Wealth Advisors LLC Purchases 6,282 Shares of Apple Inc. (NASDAQ:AAPL)

Moss Adams Wealth Advisors LLC boosted its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 7.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 87,344 shares of the iPhone maker's stock after acquiring an additional 6,282 shares during the period. Apple accounts for about 2.0% of Moss Adams Wealth Advisors LLC's holdings, making the stock its 10th biggest position. Moss Adams Wealth Advisors LLC's holdings in Apple were worth $19,402,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of AAPL. Advanced Portfolio Management LLC boosted its stake in Apple by 0.3% during the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock valued at $3,260,000 after purchasing an additional 47 shares during the period. Family Capital Management Inc. boosted its stake in Apple by 0.3% during the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock valued at $4,235,000 after purchasing an additional 48 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in Apple by 0.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock valued at $4,178,000 after purchasing an additional 48 shares during the period. Scarborough Advisors LLC boosted its stake in Apple by 0.3% during the 4th quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker's stock valued at $3,992,000 after purchasing an additional 51 shares during the period. Finally, Disciplined Investments LLC boosted its stake in Apple by 0.7% during the 4th quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker's stock valued at $1,794,000 after purchasing an additional 51 shares during the period. Institutional investors own 67.73% of the company's stock.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the transaction, the insider owned 15,533 shares in the company, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the transaction, the chief financial officer owned 4,569 shares in the company, valued at approximately $941,214. This represents a 50.01% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Raymond James Financial reduced their price target on shares of Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Loop Capital reduced their price target on shares of Apple from $230.00 to $215.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. UBS Group set a $210.00 price target on shares of Apple and gave the stock a "neutral" rating in a research note on Thursday, July 3rd. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research note on Tuesday, June 10th. Finally, Monness Crespi & Hardt upped their price target on shares of Apple to $245.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $235.27.

Apple Trading Down 0.6%

Shares of AAPL stock traded down $1.25 during trading hours on Friday, reaching $211.16. 39,713,698 shares of the stock traded hands, compared to its average volume of 53,349,236. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The business has a fifty day moving average price of $203.39 and a 200 day moving average price of $217.12. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $3.15 trillion, a PE ratio of 32.89, a PEG ratio of 2.36 and a beta of 1.20.

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

Apple declared that its Board of Directors has approved a stock buyback program on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are generally 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. Shareholders of record on Monday, May 12th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is currently 16.20%.

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.