Horizon Wealth Management LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 39.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 125,658 shares of the iPhone maker’s stock after buying an additional 35,817 shares during the quarter. Apple comprises 7.1% of Horizon Wealth Management LLC’s holdings, making the stock its 2nd biggest position. Horizon Wealth Management LLC’s holdings in Apple were worth $17,180,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Spence Asset Management purchased a new position in Apple during the second quarter worth approximately $49,000. Emerson Wealth LLC increased its position in shares of Apple by 363.6% in the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after acquiring an additional 320 shares in the last quarter. Econ Financial Services Corp increased its position in shares of Apple by 29.1% in the first quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock worth $74,000 after acquiring an additional 95 shares in the last quarter. HBC Financial Services PLLC increased its position in shares of Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after acquiring an additional 80 shares in the last quarter. Finally, Darrow Company Inc. acquired a new stake in shares of Apple in the second quarter worth $107,000. Hedge funds and other institutional investors own 57.72% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on AAPL shares. Bank Of America (Bofa) lowered shares of Apple from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $189.00 to $160.00 in a research report on Friday, September 30th. set a $175.00 price objective on shares of Apple in a research report on Friday, July 29th. Morgan Stanley dropped their price objective on shares of Apple from $177.00 to $175.00 and set an “overweight” rating for the company in a research report on Tuesday, November 8th. Credit Suisse Group set a $184.00 price target on shares of Apple in a report on Thursday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $189.00 price target on shares of Apple in a report on Tuesday, November 8th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $176.26.
Apple Trading Up 0.4 %
Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.02. The firm had revenue of $90.15 billion for the quarter, compared to the consensus estimate of $88.77 billion. Apple had a net margin of 25.31% and a return on equity of 160.90%. Apple’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $1.24 EPS. On average, equities analysts expect that Apple Inc. will post 6.26 earnings per share for the current year.
Apple Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were given a $0.23 dividend. The ex-dividend date of this dividend was Friday, November 4th. This represents a $0.92 annualized dividend and a yield of 0.61%. Apple’s dividend payout ratio is presently 15.06%.
Insider Activity at Apple
In related news, SVP Deirdre O’brien sold 8,053 shares of Apple stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $142.45, for a total value of $1,147,149.85. Following the sale, the senior vice president now directly owns 136,290 shares in the company, valued at approximately $19,414,510.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Apple news, SVP Deirdre O’brien sold 8,053 shares of the firm’s stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $142.45, for a total transaction of $1,147,149.85. Following the transaction, the senior vice president now owns 136,290 shares of the company’s stock, valued at approximately $19,414,510.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Luca Maestri sold 176,299 shares of the firm’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $17,259,454.35. The disclosure for this sale can be found here. Insiders have sold a total of 360,651 shares of company stock worth $53,703,645 in the last ninety days. 0.06% of the stock is owned by insiders.
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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