Ahrens Investment Partners LLC Raises Stake in Apple Inc. (NASDAQ:AAPL)

Ahrens Investment Partners LLC grew its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 9.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 54,048 shares of the iPhone maker’s stock after acquiring an additional 4,522 shares during the quarter. Apple makes up about 3.3% of Ahrens Investment Partners LLC’s portfolio, making the stock its 3rd biggest position. Ahrens Investment Partners LLC’s holdings in Apple were worth $7,389,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Cooper Financial Group lifted its holdings in shares of Apple by 2.2% in the first quarter. Cooper Financial Group now owns 114,581 shares of the iPhone maker’s stock valued at $20,007,000 after purchasing an additional 2,516 shares in the last quarter. IFM Investors Pty Ltd lifted its stake in Apple by 20.0% in the 1st quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock worth $456,728,000 after acquiring an additional 435,891 shares in the last quarter. Ironwood Wealth Management LLC. boosted its position in Apple by 0.4% during the 1st quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock worth $42,016,000 after acquiring an additional 1,040 shares during the period. Tennessee Valley Asset Management Partners grew its stake in Apple by 2.0% during the 1st quarter. Tennessee Valley Asset Management Partners now owns 24,330 shares of the iPhone maker’s stock valued at $4,248,000 after acquiring an additional 470 shares in the last quarter. Finally, Concorde Asset Management LLC increased its holdings in shares of Apple by 15.1% in the 1st quarter. Concorde Asset Management LLC now owns 11,375 shares of the iPhone maker’s stock valued at $1,985,000 after purchasing an additional 1,488 shares during the period. Institutional investors and hedge funds own 57.72% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on AAPL shares. JPMorgan Chase & Co. set a $200.00 price target on shares of Apple in a report on Monday, November 14th. Bank Of America (Bofa) cut shares of Apple from a “buy” rating to a “neutral” rating and lowered their price target for the company from $189.00 to $160.00 in a report on Friday, September 30th. Monness Crespi & Hardt initiated coverage on Apple in a report on Thursday, September 8th. They set a “buy” rating and a $174.00 price objective for the company. Itaú Unibanco began coverage on Apple in a research report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 target price on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $170.00 price target on shares of Apple in a report on Tuesday, November 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $176.26.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $151.29 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.95. The business’s 50 day moving average is $147.08 and its two-hundred day moving average is $149.95. The company has a market cap of $2.41 trillion, a P/E ratio of 24.76, a P/E/G ratio of 1.90 and a beta of 1.25. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 EPS for the quarter, topping the consensus estimate of $1.27 by $0.02. The company had revenue of $90.15 billion for the quarter, compared to the consensus estimate of $88.77 billion. Apple had a return on equity of 160.90% and a net margin of 25.31%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.24 EPS. On average, equities analysts expect that Apple Inc. will post 6.26 EPS for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.61%. The ex-dividend date was Friday, November 4th. Apple’s dividend payout ratio is currently 15.06%.

Insider Activity

In other news, SVP Deirdre O’brien sold 176,299 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $142.16, for a total transaction of $25,062,665.84. Following the sale, the senior vice president now directly owns 136,290 shares in the company, valued at $19,374,986.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 360,651 shares of company stock worth $53,703,645. Company insiders own 0.06% of the company’s stock.

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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