Inspirion Wealth Advisors LLC lifted its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 0.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,329 shares of the iPhone maker’s stock after buying an additional 152 shares during the quarter. Apple makes up 2.2% of Inspirion Wealth Advisors LLC’s holdings, making the stock its 15th largest position. Inspirion Wealth Advisors LLC’s holdings in Apple were worth $11,508,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. Atlantic Private Wealth LLC purchased a new stake in shares of Apple in the first quarter worth about $30,000. Cheyne Capital Management UK LLP boosted its position in Apple by 200.0% during the third quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $212,000 after purchasing an additional 550 shares in the last quarter. HBC Financial Services PLLC boosted its position in 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. Clear Perspectives Financial Planning LLC boosted its position in Apple by 27.3% during the first quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock worth $172,000 after purchasing an additional 211 shares in the last quarter. Finally, NNS Holding purchased a new position in Apple during the second quarter worth approximately $193,000. Hedge funds and other institutional investors own 58.51% of the company’s stock.
Apple Stock Down 0.9 %
Apple stock opened at $177.15 on Wednesday. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $198.23. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.98 and a quick ratio of 0.92. The stock has a market cap of $2.77 trillion, a PE ratio of 29.77, a P/E/G ratio of 2.40 and a beta of 1.28. The stock’s fifty day moving average is $177.99 and its two-hundred day moving average is $178.79.
Apple Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Friday, August 11th. Apple’s dividend payout ratio is presently 16.13%.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on AAPL shares. The Goldman Sachs Group reduced their target price on Apple from $222.00 to $216.00 and set a “buy” rating for the company in a report on Wednesday, September 13th. Canaccord Genuity Group increased their price target on Apple from $185.00 to $205.00 and gave the company a “buy” rating in a report on Friday, August 4th. Deutsche Bank Aktiengesellschaft increased their price target on Apple from $180.00 to $210.00 and gave the company a “buy” rating in a report on Monday, July 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $195.00 price target on shares of Apple in a report on Wednesday, September 13th. Finally, Morgan Stanley cut their price target on Apple from $215.00 to $210.00 and set an “overweight” rating for the company in a report on Monday. Nine investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus price target of $200.40.
Read Our Latest Research Report on Apple
Insider Buying and Selling at Apple
In other news, CEO Timothy D. Cook sold 240,569 shares of Apple stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total transaction of $41,498,152.50. Following the sale, the chief executive officer now owns 3,280,053 shares in the company, valued at $565,809,142.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Deirdre O’brien sold 65,536 shares of Apple stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $172.11, for a total transaction of $11,279,400.96. Following the sale, the senior vice president now owns 136,445 shares in the company, valued at $23,483,548.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 240,569 shares of Apple stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total value of $41,498,152.50. Following the sale, the chief executive officer now owns 3,280,053 shares in the company, valued at approximately $565,809,142.50. The disclosure for this sale can be found here. Insiders have sold a total of 455,004 shares of company stock worth $79,238,767 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.
About Apple
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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