Apple Inc. (NASDAQ:AAPL) Shares Acquired by FirstPurpose Wealth LLC

FirstPurpose Wealth LLC increased its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 14.8% during the 3rd quarter, Holdings Channel reports. The fund owned 5,213 shares of the iPhone maker’s stock after purchasing an additional 672 shares during the quarter. FirstPurpose Wealth LLC’s holdings in Apple were worth $720,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. Bluestem Financial Advisors LLC raised its holdings in shares of Apple by 5,935.2% in the 2nd quarter. Bluestem Financial Advisors LLC now owns 233,803 shares of the iPhone maker’s stock valued at $35,000 after purchasing an additional 229,929 shares in the last quarter. HBC Financial Services PLLC grew its stake in shares of Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares in the last quarter. Ramsey Quantitative Systems purchased a new stake in Apple during the 2nd quarter worth about $55,000. Morgan Dempsey Capital Management LLC purchased a new stake in Apple during the third quarter worth approximately $55,000. Finally, Newfound Research LLC acquired a new position in Apple in the third quarter valued at approximately $67,000. 57.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 20,200 shares of the firm’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the completion of the transaction, the insider now directly owns 31,505 shares of the company’s stock, valued at approximately $4,685,423.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Apple news, insider Chris Kondo sold 20,200 shares of the stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the sale, the insider now owns 31,505 shares in the company, valued at approximately $4,685,423.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Luca Maestri sold 176,299 shares of the business’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $155.95, for a total value of $27,493,829.05. Following the completion of the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at $17,259,454.35. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AAPL. Barclays reduced their price objective on shares of Apple from $144.00 to $133.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 11th. StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a research note on Saturday, November 5th. KeyCorp reaffirmed a “buy” rating and set a $175.00 price objective on shares of Apple in a report on Tuesday, November 8th. Robert W. Baird reduced their target price on Apple from $185.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, October 28th. Finally, UBS Group set a $180.00 price target on Apple in a research note on Thursday, January 12th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $170.04.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $135.27 on Friday. Apple Inc. has a 12 month low of $124.17 and a 12 month high of $179.61. The firm has a market capitalization of $2.14 trillion, a price-to-earnings ratio of 22.14, a price-to-earnings-growth ratio of 1.74 and a beta of 1.24. The business’s 50 day simple moving average is $138.95 and its 200-day simple moving average is $148.10. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85.

Apple (NASDAQ:AAPLGet Rating) last posted its earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.03. The company had revenue of $90.15 billion for the quarter, compared to analyst estimates of $88.77 billion. Apple had a return on equity of 160.90% and a net margin of 25.31%. Apple’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.24 earnings per share. As a group, equities analysts forecast that Apple Inc. will post 6.19 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Friday, November 4th. Apple’s payout ratio is currently 15.06%.

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; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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