Apple Inc. (NASDAQ:AAPL) Shares Bought by Wealth Management Resources Inc.

Posted by Defense World Staff on Sep 24th, 2023

Wealth Management Resources Inc. boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 3.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 6,661 shares of the iPhone maker’s stock after buying an additional 244 shares during the quarter. Apple makes up approximately 0.8% of Wealth Management Resources Inc.’s holdings, making the stock its 21st largest holding. Wealth Management Resources Inc.’s holdings in Apple were worth $1,292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Atlantic Private Wealth LLC acquired a new position in shares of Apple in the first quarter valued at about $30,000. St. James Investment Advisors LLC increased its holdings in shares of Apple by 98.3% in the fourth quarter. St. James Investment Advisors LLC now owns 236 shares of the iPhone maker’s stock valued at $31,000 after purchasing an additional 117 shares during the period. Cheyne Capital Management UK LLP increased its holdings in shares of Apple by 200.0% in the third quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock valued at $212,000 after purchasing an additional 550 shares during the period. HBC Financial Services PLLC increased its holdings 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 valued at $49,000 after purchasing an additional 80 shares during the period. Finally, LFA Lugano Financial Advisors SA acquired a new position in shares of Apple in the fourth quarter valued at about $93,000. 58.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Apple news, SVP Deirdre O’brien sold 15,419 shares of Apple stock in a transaction on Monday, August 7th. The stock was sold at an average price of $178.56, for a total value of $2,753,216.64. Following the sale, the senior vice president now owns 136,445 shares in the company, valued at $24,363,619.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is currently owned by company insiders.

Apple Stock Performance

Shares of Apple stock opened at $174.79 on Friday. Apple Inc. has a one year low of $124.17 and a one year high of $198.23. The company has a market cap of $2.73 trillion, a price-to-earnings ratio of 29.38, a PEG ratio of 2.53 and a beta of 1.27. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.92 and a current ratio of 0.98. The business’s 50 day moving average price is $183.37 and its 200 day moving average price is $176.19.

Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings data on Thursday, August 3rd. The iPhone maker reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. Apple had a return on equity of 164.92% and a net margin of 24.68%. The firm had revenue of $81.80 billion for the quarter, compared to the consensus estimate of $81.79 billion. During the same quarter last year, the business posted $1.20 earnings per share. The firm’s revenue was down 1.4% compared to the same quarter last year. On average, research analysts predict that Apple Inc. will post 6.05 EPS for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were given a dividend of $0.24 per share. The ex-dividend date was Friday, August 11th. This represents a $0.96 dividend on an annualized basis and a yield of 0.55%. Apple’s payout ratio is 16.13%.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of research reports. Sanford C. Bernstein increased their price objective on Apple from $175.00 to $195.00 and gave the company a “market perform” rating in a report on Thursday, July 27th. Oppenheimer upped their target price on Apple from $195.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Piper Sandler upped their target price on Apple from $180.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, July 31st. TD Cowen upped their target price on Apple from $195.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 1st. Finally, The Goldman Sachs Group lowered their target price on Apple from $222.00 to $216.00 and set a “buy” rating on the stock in a research note on Wednesday, September 13th. Ten research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $199.41.

Check Out Our Latest Stock Report on Apple

Apple Profile

(Free Report)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. 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.