Apple Inc. (NASDAQ:AAPL) is Thrive Wealth Management LLC’s 7th Largest Position

Thrive Wealth Management LLC grew its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 6.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,512 shares of the iPhone maker’s stock after buying an additional 2,616 shares during the period. Apple makes up about 2.2% of Thrive Wealth Management LLC’s holdings, making the stock its 7th biggest holding. Thrive Wealth Management LLC’s holdings in Apple were worth $6,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Joseph Group Capital Management purchased a new position in Apple in the 4th quarter worth approximately $1,631,000. Cardinal Capital Management Inc. lifted its holdings 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 worth $39,000 after acquiring an additional 221 shares during the last quarter. Shore Point Advisors LLC bought a new stake in shares of Apple in the 4th quarter worth approximately $41,000. Spence Asset Management bought a new stake in shares of Apple in the 2nd quarter worth approximately $49,000. Finally, Emerson Wealth LLC lifted its holdings in shares of Apple by 363.6% in the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after acquiring an additional 320 shares during the last quarter. Hedge funds and other institutional investors own 57.72% of the company’s stock.

Apple Stock Up 1.6 %

NASDAQ:AAPL opened at $156.90 on Wednesday. The firm’s 50-day moving average price is $159.84 and its 200-day moving average price is $155.88. The company has a market capitalization of $2.52 trillion, a PE ratio of 25.89, a P/E/G ratio of 1.95 and a beta of 1.23. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last released its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The firm had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The company’s 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 EPS. On average, equities analysts predict that Apple Inc. will post 6.11 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Friday, August 5th. Apple’s dividend payout ratio is presently 15.18%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. set a $175.00 price objective on shares of Apple in a report on Friday, July 29th. KeyCorp boosted their price objective on shares of Apple from $177.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, August 19th. Citigroup boosted their price objective on shares of Apple from $175.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Credit Suisse Group set a $201.00 price objective on shares of Apple in a report on Thursday, September 8th. Finally, Wells Fargo & Company lowered their price objective on shares of Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $181.68.

Insider Activity at Apple

In related 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 sale, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 directly owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of the company’s 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 transaction, the senior vice president now 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.

About Apple

(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.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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