Thrive Wealth Management LLC raised its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 3.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 44,537 shares of the iPhone maker’s stock after purchasing an additional 1,542 shares during the period. Apple accounts for 2.2% of Thrive Wealth Management LLC’s investment portfolio, making the stock its 6th largest holding. Thrive Wealth Management LLC’s holdings in Apple were worth $8,639,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Ilmarinen Mutual Pension Insurance Co lifted its holdings in shares of Apple by 8.3% in the first quarter. Ilmarinen Mutual Pension Insurance Co now owns 785,000 shares of the iPhone maker’s stock worth $129,447,000 after buying an additional 60,000 shares in the last quarter. Starfox Financial Services LLC lifted its holdings in shares of Apple by 21.5% in the fourth quarter. Starfox Financial Services LLC now owns 1,900 shares of the iPhone maker’s stock worth $247,000 after buying an additional 336 shares in the last quarter. Arista Wealth Management LLC lifted its holdings in shares of Apple by 1.0% in the first quarter. Arista Wealth Management LLC now owns 26,680 shares of the iPhone maker’s stock worth $4,399,000 after buying an additional 261 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Apple by 2.3% in the first quarter. Thrivent Financial for Lutherans now owns 3,919,534 shares of the iPhone maker’s stock worth $646,332,000 after buying an additional 89,615 shares in the last quarter. Finally, New England Research & Management Inc. lifted its holdings in shares of Apple by 3.3% in the second quarter. New England Research & Management Inc. now owns 29,606 shares of the iPhone maker’s stock worth $5,743,000 after buying an additional 949 shares in the last quarter. Hedge funds and other institutional investors own 58.51% of the company’s stock.
Analysts Set New Price Targets
AAPL has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Apple from $180.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, July 24th. Wells Fargo & Company upped their price target on shares of Apple from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, July 24th. Citigroup reaffirmed a “buy” rating and set a $240.00 price target on shares of Apple in a research note on Friday, August 4th. Sanford C. Bernstein upped their price target on shares of Apple from $175.00 to $195.00 and gave the company a “market perform” rating in a research note on Thursday, July 27th. Finally, Morgan Stanley decreased their price target on shares of Apple from $220.00 to $215.00 and set an “overweight” rating on the stock in a research note on Friday, August 4th. Ten analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $199.41.
Apple Stock Up 0.5 %
Shares of Apple stock opened at $174.79 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.98 and a quick ratio of 0.92. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $198.23. The firm’s 50-day moving average is $183.37 and its two-hundred day moving average is $176.19. The stock 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.
Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 EPS for the quarter, beating the consensus estimate of $1.19 by $0.07. The business had revenue of $81.80 billion during the quarter, compared to analyst estimates of $81.79 billion. Apple had a net margin of 24.68% and a return on equity of 164.92%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.20 earnings per share. As a group, research analysts expect that Apple Inc. will post 6.05 earnings per share for the current fiscal year.
Apple Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Friday, August 11th. Apple’s payout ratio is 16.13%.
Insider Buying and Selling at Apple
In other Apple news, SVP Deirdre O’brien sold 15,419 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $178.56, for a total transaction of $2,753,216.64. Following the completion of the sale, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at $24,363,619.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.06% of the company’s stock.
Apple Profile
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.
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