Apple Inc. (NASDAQ:AAPL) Position Boosted by Horizon Wealth Management LLC

Horizon Wealth Management LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPLGet 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 stock opened at $151.29 on Friday. The company has a market cap of $2.41 trillion, a P/E ratio of 24.76, a PEG ratio of 1.93 and a beta of 1.25. The firm’s 50-day moving average is $147.08 and its 200-day moving average is $149.88. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.85 and a current ratio of 0.88.

Apple (NASDAQ:AAPLGet 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 Profile

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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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