Apple Inc. (NASDAQ:AAPL) Stock Holdings Lifted by Wealth Effects LLC

Wealth Effects LLC lifted its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 5.9% during the second quarter, Holdings Channel reports. The institutional investor owned 114,211 shares of the iPhone maker’s stock after buying an additional 6,368 shares during the quarter. Apple comprises approximately 9.4% of Wealth Effects LLC’s investment portfolio, making the stock its largest holding. Wealth Effects LLC’s holdings in Apple were worth $15,615,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Aaron Wealth Advisors LLC boosted its stake in Apple by 30,391.8% in the 1st quarter. Aaron Wealth Advisors LLC now owns 26,075,085 shares of the iPhone maker’s stock worth $149,333,000 after purchasing an additional 25,989,570 shares in the last quarter. Capital Research Global Investors lifted its stake in Apple by 31.7% during the 1st quarter. Capital Research Global Investors now owns 38,903,911 shares of the iPhone maker’s stock valued at $6,793,041,000 after acquiring an additional 9,354,484 shares during the period. Vanguard Group Inc. lifted its stake in Apple by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after acquiring an additional 8,734,393 shares during the period. Swiss National Bank lifted its stake in Apple by 13.1% during the 1st quarter. Swiss National Bank now owns 71,060,708 shares of the iPhone maker’s stock valued at $12,407,910,000 after acquiring an additional 8,230,300 shares during the period. Finally, CFS Investment Advisory Services LLC lifted its stake in Apple by 18,263.5% during the 1st quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock valued at $47,000 after acquiring an additional 7,416,445 shares during the period. Hedge funds and other institutional investors own 57.72% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the subject of several research reports. KeyCorp restated a “buy” rating and set a $175.00 price objective on shares of Apple in a research note on Tuesday, November 8th. Robert W. Baird cut their target price on shares of Apple from $185.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, October 28th. Sanford C. Bernstein set a $170.00 target price on shares of Apple in a report on Monday, September 12th. Fundamental Research lifted their target price on shares of Apple to $168.50 and gave the company a “buy” rating in a report on Tuesday, November 8th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Apple from $175.00 to $170.00 and set a “buy” rating for the company in a report on Friday, October 28th. Two investment 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $176.26.

Insider Buying and Selling

In related news, CFO Luca Maestri sold 176,299 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 110,673 shares in the company, valued at $17,259,454.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Luca Maestri sold 176,299 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 110,673 shares in the company, valued at $17,259,454.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Deirdre O’brien sold 8,053 shares of the company’s stock in a transaction that occurred on Monday, October 17th. The stock was sold at an average price of $142.45, for a total transaction of $1,147,149.85. Following the sale, the senior vice president now owns 136,290 shares in the company, valued at $19,414,510.50. The disclosure for this sale can be found here. 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.

Apple Stock Up 0.4 %

Shares of AAPL opened at $151.29 on Monday. The stock has a market capitalization of $2.41 trillion, a PE ratio of 24.76, a P/E/G ratio of 1.93 and a beta of 1.25. 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. The company’s 50-day simple moving average is $147.08 and its 200-day simple moving average is $149.77.

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

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.61%. Apple’s payout ratio is 15.06%.

About Apple

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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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