WPG Advisers LLC Invests $1.82 Million in Apple Inc. $AAPL

WPG Advisers LLC purchased a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,204 shares of the iPhone maker's stock, valued at approximately $1,822,000. Apple makes up approximately 1.7% of WPG Advisers LLC's holdings, making the stock its 13th biggest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in AAPL. Life Planning Partners Inc bought a new position in shares of Apple during the 4th quarter worth $47,000. Elite Financial Inc. bought a new position in shares of Apple during the 1st quarter worth $58,000. Conquis Financial LLC bought a new position in shares of Apple during the 4th quarter worth $63,000. LSV Asset Management bought a new position in shares of Apple during the 4th quarter worth $65,000. Finally, Pillar Financial Advisors LLC bought a new stake in Apple during the fourth quarter valued at about $82,000. Institutional investors own 67.73% of the company's stock.

Apple Trading Up 1.4%

Shares of NASDAQ:AAPL opened at $230.03 on Friday. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The stock has a market cap of $3.41 trillion, a price-to-earnings ratio of 34.91, a PEG ratio of 2.37 and a beta of 1.11. 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 business has a 50-day moving average price of $221.08 and a 200-day moving average price of $212.48.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business's revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.40 EPS. Equities analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, August 11th. Apple's dividend payout ratio is 15.78%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Moffett Nathanson raised Apple from a "sell" rating to a "neutral" rating and set a $225.00 price objective on the stock in a research report on Thursday, September 4th. HSBC set a $220.00 price objective on shares of Apple and gave the stock a "hold" rating in a research note on Monday. Raymond James Financial reiterated an "outperform" rating and set a $240.00 price objective (up previously from $230.00) on shares of Apple in a research note on Friday, August 1st. Phillip Securities reiterated a "reduce" rating and set a $200.00 price objective on shares of Apple in a research note on Thursday. Finally, Wedbush reiterated an "outperform" rating and set a $270.00 price objective on shares of Apple in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $240.80.

Insider Activity at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the sale, the senior vice president directly owned 136,687 shares of the company's stock, valued at $30,508,538.40. This represents a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is owned by company insiders.

Apple Company 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.

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