Arista Wealth Management LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 0.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,480 shares of the iPhone maker’s stock after selling 200 shares during the quarter. Apple makes up 2.1% of Arista Wealth Management LLC’s investment portfolio, making the stock its 10th biggest holding. Arista Wealth Management LLC’s holdings in Apple were worth $5,136,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Parker Financial LLC grew its holdings in Apple by 1.2% in the 2nd quarter. Parker Financial LLC now owns 4,543 shares of the iPhone maker’s stock valued at $881,000 after buying an additional 54 shares during the period. MKT Advisors LLC grew its holdings in Apple by 0.5% in the 2nd quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock valued at $1,777,000 after buying an additional 60 shares during the period. Professional Financial Advisors LLC grew its holdings in Apple by 0.5% in the 2nd quarter. Professional Financial Advisors LLC now owns 13,213 shares of the iPhone maker’s stock valued at $2,563,000 after buying an additional 62 shares during the period. Aspire Capital Advisors LLC grew its holdings in Apple by 0.5% in the 1st quarter. Aspire Capital Advisors LLC now owns 14,076 shares of the iPhone maker’s stock valued at $2,321,000 after buying an additional 64 shares during the period. Finally, Orgel Wealth Management LLC boosted its holdings in shares of Apple by 0.7% in the 2nd quarter. Orgel Wealth Management LLC now owns 8,926 shares of the iPhone maker’s stock valued at $1,731,000 after purchasing an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 58.51% of the company’s stock.
Apple Stock Performance
Apple stock opened at $175.84 on Thursday. The company has a market cap of $2.75 trillion, a PE ratio of 29.55, a P/E/G ratio of 2.40 and a beta of 1.28. The company has a fifty day moving average price of $177.94 and a two-hundred day moving average price of $178.77. 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 12 month low of $124.17 and a 12 month high of $198.23.
Apple Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were issued a $0.24 dividend. 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 dividend payout ratio is currently 16.13%.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on AAPL shares. Oppenheimer increased their target price on Apple from $195.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Tigress Financial raised their price objective on Apple from $210.00 to $225.00 in a report on Friday, June 23rd. Canaccord Genuity Group boosted their target price on Apple from $185.00 to $205.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Needham & Company LLC reiterated a “buy” rating and set a $195.00 target price on shares of Apple in a report on Wednesday, September 13th. Finally, Barclays reiterated an “equal weight” rating and set a $167.00 target price on shares of Apple in a report on Monday, October 9th. Nine investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $200.40.
Check Out Our Latest Stock Analysis on Apple
Insiders Place Their Bets
In other Apple news, SVP Deirdre O’brien sold 65,536 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $172.11, for a total value of $11,279,400.96. Following the transaction, the senior vice president now owns 136,445 shares of the company’s stock, valued at $23,483,548.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Apple news, SVP Deirdre O’brien sold 65,536 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $172.11, for a total value of $11,279,400.96. Following the completion of the transaction, the senior vice president now owns 136,445 shares in the company, valued at approximately $23,483,548.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Luca Maestri sold 31,685 shares of the business’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $178.69, for a total value of $5,661,792.65. Following the transaction, the chief financial officer now owns 107,661 shares of the company’s stock, valued at approximately $19,237,944.09. The disclosure for this sale can be found here. Insiders have sold 455,004 shares of company stock valued at $79,238,767 over the last quarter. 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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