Apple Inc. (NASDAQ:AAPL) Stake Boosted by Taylor & Morgan Wealth Management LLC

Taylor & Morgan Wealth Management LLC grew its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 5.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,654 shares of the iPhone maker’s stock after acquiring an additional 1,780 shares during the period. Apple accounts for 4.2% of Taylor & Morgan Wealth Management LLC’s investment portfolio, making the stock its 6th biggest holding. Taylor & Morgan Wealth Management LLC’s holdings in Apple were worth $4,464,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 427,334 shares in the company, valued at $70,411,823.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 427,334 shares in the company, valued at $70,411,823.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the transaction, the chief financial officer now owns 110,673 shares in the company, valued at $19,362,241.35. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the subject of several analyst reports. JPMorgan Chase & Co. set a $200.00 price objective on shares of Apple in a research note on Monday, September 12th. Bank of America cut their target price on shares of Apple from $200.00 to $185.00 in a research report on Tuesday, July 26th. Fundamental Research set a $177.07 target price on shares of Apple and gave the stock a “buy” rating in a research report on Thursday, August 4th. Barclays set a $169.00 target price on shares of Apple in a research report on Wednesday, September 14th. Finally, Loop Capital cut their target price on shares of Apple from $210.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, May 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $181.52.

Apple Price Performance

Shares of Apple stock 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 stock has a market capitalization of $2.48 trillion, a price-to-earnings ratio of 25.49, a P/E/G ratio of 1.95 and a beta of 1.23. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The firm’s 50-day moving average price is $159.65 and its two-hundred day moving average price is $155.94.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings data 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 firm had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.30 earnings per share. On average, equities analysts predict that Apple Inc. will post 6.11 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 annualized dividend and a yield of 0.60%. Apple’s dividend payout ratio is 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.

Further Reading

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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