Apple Inc. (NASDAQ:AAPL) Position Increased by ACT Wealth Management LLC

ACT Wealth Management LLC raised its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 10.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,105 shares of the iPhone maker’s stock after acquiring an additional 3,528 shares during the period. Apple makes up about 3.4% of ACT Wealth Management LLC’s portfolio, making the stock its 8th biggest position. ACT Wealth Management LLC’s holdings in Apple were worth $5,210,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cardinal Capital Management Inc. lifted its stake in Apple by 5,525.0% during the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after acquiring an additional 221 shares during the period. Shore Point Advisors LLC acquired a new stake in Apple during the 4th quarter valued at approximately $41,000. CFS Investment Advisory Services LLC lifted its stake in Apple by 18,263.5% during the 1st quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock valued at $47,000 after acquiring an additional 7,416,445 shares during the period. Spence Asset Management acquired a new stake in Apple during the 2nd quarter valued at approximately $49,000. Finally, HBC Financial Services PLLC lifted its stake in Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after acquiring an additional 80 shares during the period. 57.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on AAPL shares. Credit Suisse Group set a $201.00 price objective on shares of Apple in a research note on Thursday, September 8th. JPMorgan Chase & Co. set a $200.00 target price on shares of Apple in a research note on Monday, September 12th. Fundamental Research set a $177.07 target price on shares of Apple and gave the company a “buy” rating in a research note on Thursday, August 4th. Wedbush boosted their target price on shares of Apple from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, August 17th. Finally, Monness Crespi & Hardt assumed coverage on shares of Apple in a research note on Thursday, September 8th. They issued a “buy” rating and a $174.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $181.52.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the transaction, the senior vice president now owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Luca Maestri sold 96,735 shares of the stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the sale, the senior vice president now directly owns 427,334 shares in the company, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Apple Trading Up 2.5 %

Shares of AAPL opened at $154.48 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $2.48 trillion, a P/E ratio of 25.49, a P/E/G ratio of 1.95 and a beta of 1.23. The firm has a 50-day moving average price of $159.65 and a 200 day moving average price of $155.94. Apple Inc. has a 12-month low of $129.04 and a 12-month high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last announced its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.06. The company had revenue of $82.96 billion during the quarter, compared to analyst estimates of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. Apple’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.30 earnings per share. Sell-side analysts forecast that Apple Inc. will post 6.11 EPS for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s dividend payout ratio (DPR) is presently 15.18%.

Apple Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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