Thrive Wealth Management LLC Raises Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Thrive Wealth Management LLC increased its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 4.1% during the third quarter, Holdings Channel reports. The firm owned 47,359 shares of the iPhone maker’s stock after acquiring an additional 1,847 shares during the period. Apple makes up approximately 2.3% of Thrive Wealth Management LLC’s investment portfolio, making the stock its 5th biggest position. Thrive Wealth Management LLC’s holdings in Apple were worth $6,545,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of AAPL. Ramsey Quantitative Systems acquired a new stake in Apple in the second quarter valued at about $55,000. Morgan Dempsey Capital Management LLC acquired a new stake in Apple in the third quarter valued at about $55,000. HBC Financial Services PLLC boosted its stake in Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after buying an additional 80 shares in the last quarter. Newfound Research LLC acquired a new stake in Apple in the third quarter valued at about $67,000. Finally, Emerson Wealth LLC boosted its stake in Apple by 27.0% in the second quarter. Emerson Wealth LLC now owns 518 shares of the iPhone maker’s stock valued at $71,000 after buying an additional 110 shares in the last quarter. Institutional investors own 57.60% of the company’s stock.

Apple Trading Up 1.9 %

NASDAQ AAPL opened at $137.87 on Friday. The company has a market cap of $2.18 trillion, a price-to-earnings ratio of 22.56, a P/E/G ratio of 1.74 and a beta of 1.24. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $179.61. The business has a 50 day moving average price of $138.72 and a 200-day moving average price of $148.14. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.95.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 EPS for the quarter, beating the consensus estimate of $1.26 by $0.03. The firm had revenue of $90.15 billion during 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 quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.24 earnings per share. As a group, equities analysts expect that Apple Inc. will post 6.19 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, November 4th. This represents a $0.92 annualized dividend and a yield of 0.67%. Apple’s dividend payout ratio (DPR) is currently 15.06%.

Insider Buying and Selling

In related news, insider Chris Kondo sold 20,200 shares of the company’s 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 completion of the sale, the insider now owns 31,505 shares in the company, valued at $4,685,423.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Chris Kondo sold 20,200 shares of the company’s 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 completion of the sale, the insider now owns 31,505 shares in the company, valued at $4,685,423.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Luca Maestri sold 176,299 shares of the company’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 sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $17,259,454.35. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AAPL shares. Citigroup reissued a “buy” rating and set a $175.00 price target on shares of Apple in a research note on Tuesday, November 8th. Oppenheimer cut their price target on Apple from $190.00 to $170.00 and set an “outperform” rating on the stock in a research note on Monday, December 12th. StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a research note on Saturday, November 5th. Bank Of America (Bofa) lowered Apple from a “buy” rating to a “neutral” rating and cut their price target for the company from $189.00 to $160.00 in a research note on Friday, September 30th. Finally, BNP Paribas lowered Apple from an “outperform” rating to a “neutral” rating and set a $140.00 price target on the stock. in a research note on Tuesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $166.73.

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; 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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