Apple Inc. (NASDAQ:AAPL) Shares Acquired by Beam Wealth Advisors Inc.

Beam Wealth Advisors Inc. raised its position in shares of Apple Inc. (NASDAQ:AAPL) by 157.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,612 shares of the iPhone maker’s stock after buying an additional 19,354 shares during the quarter. Apple comprises 2.2% of Beam Wealth Advisors Inc.’s portfolio, making the stock its 8th largest position. Beam Wealth Advisors Inc.’s holdings in Apple were worth $6,658,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Bellwether Advisors LLC lifted its holdings in shares of Apple by 387.3% in the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock worth $5,128,000 after purchasing an additional 19,352 shares during the last quarter. Gentry Private Wealth LLC bought a new position in Apple during the 2nd quarter worth $876,000. WT Asset Management Ltd acquired a new stake in Apple in the second quarter worth $80,057,000. TD Asset Management Inc lifted its stake in Apple by 10.3% in the second quarter. TD Asset Management Inc now owns 16,745,201 shares of the iPhone maker’s stock valued at $3,526,874,000 after buying an additional 1,557,848 shares during the last quarter. Finally, Councilmark Asset Management LLC acquired a new position in shares of Apple during the first quarter valued at $11,776,000. Institutional investors own 60.41% of the company’s stock.

Apple Price Performance

Shares of AAPL opened at $231.41 on Monday. The business’s 50-day moving average is $226.86 and its 200-day moving average is $210.64. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The company has a market capitalization of $3.55 trillion, a price-to-earnings ratio of 35.99, a P/E/G ratio of 2.40 and a beta of 1.24. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49.

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

Apple Announces Dividend

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

Insider Buying and Selling at Apple

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 transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the sale, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 517,924 shares of company stock worth $114,786,399 over the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AAPL has been the topic of several recent research reports. New Street Research reiterated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research report on Wednesday, September 25th. Wedbush reaffirmed an “outperform” rating and set a $285.00 price target on shares of Apple in a report on Monday, September 9th. Loop Capital raised their target price on Apple to $300.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Rosenblatt Securities reiterated a “buy” rating and set a $261.00 price target on shares of Apple in a research report on Tuesday, September 10th. Finally, Morgan Stanley reissued an “overweight” rating and set a $273.00 price target on shares of Apple in a report on Tuesday, September 10th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $235.91.

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.