Apple Inc. (NASDAQ:AAPL) Stock Holdings Increased by Innova Wealth Partners

Innova Wealth Partners boosted its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 13.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,292 shares of the iPhone maker’s stock after buying an additional 1,090 shares during the period. Apple makes up approximately 1.1% of Innova Wealth Partners’ portfolio, making the stock its 10th biggest position. Innova Wealth Partners’ holdings in Apple were worth $1,270,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Greenspring Advisors LLC raised its holdings in Apple by 0.5% in the 2nd quarter. Greenspring Advisors LLC now owns 41,164 shares of the iPhone maker’s stock valued at $5,629,000 after buying an additional 200 shares during the period. Carmel Capital Partners LLC increased its stake in Apple by 14.4% during the second quarter. Carmel Capital Partners LLC now owns 10,530 shares of the iPhone maker’s stock worth $1,440,000 after purchasing an additional 1,326 shares during the period. Aletheian Wealth Advisors LLC increased its stake in Apple by 22.9% during the second quarter. Aletheian Wealth Advisors LLC now owns 10,184 shares of the iPhone maker’s stock worth $1,392,000 after purchasing an additional 1,895 shares during the period. EWG Elevate Inc. increased its stake in Apple by 0.8% during the second quarter. EWG Elevate Inc. now owns 11,477 shares of the iPhone maker’s stock worth $1,569,000 after purchasing an additional 90 shares during the period. Finally, DBK Financial Counsel LLC purchased a new stake in Apple during the second quarter worth about $315,000. 57.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. set a $175.00 price target on shares of Apple in a research note on Friday, July 29th. Citigroup boosted their price target on shares of Apple from $175.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Evercore ISI boosted their price target on shares of Apple from $185.00 to $190.00 and gave the stock an “outperform” rating in a research note on Tuesday. Rosenblatt Securities cut their price target on shares of Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, July 29th. Finally, Morgan Stanley cut their target price on shares of Apple from $185.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 20th. Two investment 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $181.68.

Apple Price Performance

AAPL stock opened at $152.74 on Friday. The company has a market capitalization of $2.45 trillion, a P/E ratio of 25.20, a PEG ratio of 2.03 and a beta of 1.23. Apple Inc. has a twelve month low of $129.04 and a twelve month high of $182.94. The business has a 50 day simple moving average of $160.31 and a 200-day simple moving average of $155.83. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.06. The business had revenue of $82.96 billion during the quarter, compared to the consensus estimate of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.30 earnings per share. As a group, equities analysts anticipate that Apple Inc. will post 6.11 EPS for the current year.

Apple Dividend Announcement

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

Insider Buying and Selling

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

Apple Company 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

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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