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ORG Wealth Partners LLC Increases Stake in Apple Inc. (NASDAQ:AAPL)

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Key Points

  • ORG Wealth Partners LLC has increased its stake in Apple Inc. by 57.0%, now owning 24,637 shares valued at approximately $5.5 million, which represents 1.8% of their investment portfolio.
  • Apple recently declared a quarterly dividend of $0.26 per share, up from $0.25, and initiated a $100 billion stock buyback plan, suggesting confidence in its share valuation.
  • Analysts maintain a generally positive outlook on Apple, with 15 "buy" ratings, leading to an average target price of $234.94 for the stock.
  • MarketBeat previews top five stocks to own in September.

ORG Wealth Partners LLC grew its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 57.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,637 shares of the iPhone maker's stock after purchasing an additional 8,941 shares during the period. Apple makes up approximately 1.8% of ORG Wealth Partners LLC's investment portfolio, making the stock its 6th largest holding. ORG Wealth Partners LLC's holdings in Apple were worth $5,501,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Tallon Kerry Patrick acquired a new position in Apple during the fourth quarter worth about $1,877,000. First National Bank of Hutchinson increased its stake in Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock worth $8,845,000 after purchasing an additional 6,982 shares in the last quarter. Capital & Planning LLC increased its stake in Apple by 10.7% in the 4th quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker's stock worth $6,836,000 after purchasing an additional 2,647 shares in the last quarter. Eagle Capital Management LLC increased its stake in Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock worth $13,544,000 after purchasing an additional 272 shares in the last quarter. Finally, Brighton Jones LLC increased its stake in Apple by 14.8% in the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock worth $134,554,000 after purchasing an additional 69,207 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AAPL. KeyCorp raised Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Raymond James Financial reduced their target price on Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. The Goldman Sachs Group restated a "buy" rating on shares of Apple in a report on Wednesday, May 21st. Morgan Stanley restated an "overweight" rating on shares of Apple in a report on Friday, June 13th. Finally, Loop Capital reduced their target price on Apple from $230.00 to $215.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Apple currently has a consensus rating of "Moderate Buy" and an average price target of $234.94.

View Our Latest Report on Apple

Apple Stock Performance

AAPL traded down $2.22 on Wednesday, hitting $209.05. The company had a trading volume of 43,674,703 shares, compared to its average volume of 43,746,808. The company's fifty day moving average price is $205.10 and its 200 day moving average price is $214.16. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. The stock has a market cap of $3.12 trillion, a price-to-earnings ratio of 32.56, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20.

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

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a $0.26 dividend. This is a positive change from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.50%. The ex-dividend date was Monday, May 12th. Apple's payout ratio is 16.20%.

Apple declared that its Board of Directors has approved a share repurchase program on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction that occurred 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 transaction, the insider directly owned 15,533 shares in the company, valued at $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.06% of the company's stock.

Apple Profile

(Free Report)

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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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