Naviter Wealth LLC Has $21.91 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Naviter Wealth LLC lifted its holdings in Apple Inc. (NASDAQ:AAPL) by 14.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,043 shares of the iPhone maker’s stock after acquiring an additional 12,955 shares during the quarter. Apple makes up approximately 3.3% of Naviter Wealth LLC’s holdings, making the stock its 4th largest holding. Naviter Wealth LLC’s holdings in Apple were worth $21,914,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Fidelis Capital Partners LLC increased its position in Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after acquiring an additional 31,278 shares in the last quarter. Access Investment Management LLC acquired a new stake in shares of Apple in the first quarter valued at approximately $140,000. Hoese & Co LLP increased its holdings in shares of Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 57 shares in the last quarter. Benchmark Wealth Management LLC bought a new position in Apple in the 2nd quarter worth approximately $208,000. Finally, Compass Financial Group Inc. acquired a new position in Apple during the 1st quarter worth $210,000. 60.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Loop Capital upgraded Apple from a “hold” rating to a “buy” rating and boosted their target price for the stock from $170.00 to $300.00 in a research report on Monday, July 15th. Moffett Nathanson began coverage on Apple in a report on Monday, August 19th. They set a “neutral” rating and a $211.00 price objective for the company. TD Cowen raised their target price on shares of Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, July 29th. StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $265.00 price objective on shares of Apple in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $239.27.

Apple Stock Performance

AAPL opened at $232.15 on Friday. The company has a market capitalization of $3.56 trillion, a price-to-earnings ratio of 36.10, a P/E/G ratio of 2.40 and a beta of 1.24. The business’s 50-day moving average price is $225.41 and its two-hundred day moving average price is $207.39. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The business had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. Apple’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.26 EPS. Equities analysts expect that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio is presently 15.55%.

Insider Buying and Selling

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 517,924 shares of company stock worth $114,786,399. 0.06% of the stock is owned by insiders.

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.