Concentric Wealth Management LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 17.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,524 shares of the iPhone maker’s stock after purchasing an additional 977 shares during the period. Concentric Wealth Management LLC’s holdings in Apple were worth $1,291,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in AAPL. Semmax Financial Advisors Inc. purchased a new stake in Apple in the 4th quarter valued at $50,000. Avondale Wealth Management raised its position in Apple by 25.4% in the 2nd quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock valued at $63,000 after buying an additional 64 shares during the last quarter. NuWave Investment Management LLC raised its position in Apple by 2,245.0% in the 2nd quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock valued at $93,000 after buying an additional 449 shares during the last quarter. Horan Securities Inc. grew its stake in Apple by 64.2% in the 2nd quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock valued at $112,000 after purchasing an additional 221 shares during the period. Finally, INR Advisory Services LLC bought a new position in Apple in the 4th quarter valued at $124,000. Institutional investors and hedge funds own 58.77% of the company’s stock.
Shares of NASDAQ AAPL traded down $4.34 during mid-day trading on Friday, reaching $218.75. The company’s stock had a trading volume of 22,073,787 shares, compared to its average volume of 24,353,276. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.50 and a quick ratio of 1.47. The firm has a market capitalization of $979.31 billion, a PE ratio of 18.37, a P/E/G ratio of 1.79 and a beta of 1.24. Apple Inc. has a 52 week low of $142.00 and a 52 week high of $233.47. The stock has a fifty day moving average of $207.16 and a two-hundred day moving average of $196.48.
Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.08. The company had revenue of $53.81 billion for the quarter, compared to the consensus estimate of $53.39 billion. Apple had a return on equity of 52.13% and a net margin of 21.50%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.34 earnings per share. Analysts anticipate that Apple Inc. will post 11.68 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a dividend of $0.77 per share. The ex-dividend date was Friday, August 9th. This represents a $3.08 dividend on an annualized basis and a yield of 1.41%. Apple’s dividend payout ratio (DPR) is presently 25.86%.
In other Apple news, CEO Timothy D. Cook sold 265,160 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $206.17, for a total transaction of $54,668,037.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,376 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $217.47, for a total value of $951,648.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 304,536 shares of company stock worth $62,894,611. Company insiders own 0.05% of the company’s stock.
A number of brokerages have issued reports on AAPL. JPMorgan Chase & Co. set a $243.00 price objective on Apple and gave the company a “buy” rating in a research note on Monday, August 26th. ValuEngine upgraded Apple from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Wedbush reiterated an “outperform” rating and set a $245.00 price target on shares of Apple in a research note on Monday. DA Davidson increased their price target on Apple to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Bank of America reissued a “buy” rating and set a $250.00 price objective (up previously from $240.00) on shares of Apple in a report on Wednesday. Four investment analysts have rated the stock with a sell rating, nineteen have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $218.18.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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