Wealthspire Advisors LLC Raises Stock Position in Apple Inc. (NASDAQ:AAPL)

Wealthspire Advisors LLC grew its stake in Apple Inc. (NASDAQ:AAPL) by 5.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 392,195 shares of the iPhone maker’s stock after buying an additional 19,542 shares during the period. Apple accounts for 1.1% of Wealthspire Advisors LLC’s investment portfolio, making the stock its 19th largest holding. Wealthspire Advisors LLC’s holdings in Apple were worth $82,604,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Fidelis Capital Partners LLC boosted its holdings in shares of Apple by 17.9% in the first 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 during the period. Access Investment Management LLC purchased a new stake in Apple in the 1st quarter valued at $140,000. Hoese & Co LLP boosted its stake in Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the period. Sage Financial Group Inc. purchased a new position in Apple during the 2nd quarter worth $206,000. Finally, Benchmark Wealth Management LLC purchased a new position in Apple during the 2nd quarter worth $208,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AAPL has been the subject of a number of research reports. Jefferies Financial Group cut shares of Apple from a “buy” rating to a “hold” rating and upped their target price for the company from $205.00 to $212.92 in a report on Monday, October 7th. Melius Research reaffirmed a “buy” rating and set a $265.00 price objective on shares of Apple in a research note on Tuesday, August 27th. Maxim Group reiterated a “hold” rating and issued a $203.00 target price on shares of Apple in a research note on Tuesday, September 10th. Tigress Financial boosted their target price on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 28th. Finally, StockNews.com raised Apple from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $235.91.

Insider Transactions at Apple

In related news, CFO Luca Maestri sold 59,305 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Apple news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 517,924 shares of company stock valued at $114,786,399 over the last three months. 0.06% of the stock is currently owned by insiders.

Apple Stock Performance

NASDAQ:AAPL opened at $225.91 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $3.43 trillion, a P/E ratio of 34.39, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. The firm has a 50-day moving average price of $227.26 and a two-hundred day moving average price of $211.69. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. During the same period last year, the company posted $1.26 EPS. The company’s revenue was up 4.9% on a year-over-year basis. As a group, research analysts expect that Apple Inc. will post 6.65 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s payout ratio is 15.22%.

Apple Company 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.