Apple Inc. (NASDAQ:AAPL) Shares Bought by Purus Wealth Management LLC

Purus Wealth Management LLC lifted its position in Apple Inc. (NASDAQ:AAPL) by 3.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,462 shares of the iPhone maker’s stock after acquiring an additional 1,629 shares during the quarter. Apple accounts for approximately 4.7% of Purus Wealth Management LLC’s holdings, making the stock its 4th largest position. Purus Wealth Management LLC’s holdings in Apple were worth $10,628,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Fidelis Capital Partners LLC lifted its holdings in shares of Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after purchasing an additional 31,278 shares during the last quarter. Access Investment Management LLC bought a new stake in shares of Apple in the 1st quarter worth approximately $140,000. Hoese & Co LLP lifted its holdings in shares of Apple by 6.7% in 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 last quarter. Sage Financial Group Inc. bought a new stake in shares of Apple in the 2nd quarter worth approximately $206,000. Finally, Benchmark Wealth Management LLC bought a new stake in shares of Apple in the 2nd quarter worth approximately $208,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AAPL. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 target price on shares of Apple in a research note on Friday, November 1st. Piper Sandler reaffirmed a “neutral” rating and set a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $245.00 target price on shares of Apple in a research note on Monday, September 9th. Barclays cut their target price on Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, November 1st. Finally, Cfra lifted their target price on Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $235.51.

Apple Stock Up 0.6 %

AAPL stock opened at $223.45 on Wednesday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The company has a market cap of $3.40 trillion, a price-to-earnings ratio of 36.75, a PEG ratio of 2.39 and a beta of 1.24. The company has a 50 day moving average of $226.98 and a two-hundred day moving average of $213.44.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter in the prior year, the firm earned $1.46 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. On average, equities analysts anticipate that Apple Inc. will post 7.45 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. Apple’s payout ratio is 16.45%.

Insiders Place Their Bets

In other Apple news, CFO Luca Maestri sold 59,305 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the sale, the chief financial officer now owns 107,788 shares in the company, valued at $24,416,137.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Jeffrey E. Williams sold 59,730 shares of the firm’s 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 transaction, the chief operating officer now owns 489,944 shares in the company, valued at approximately $111,148,695.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the transaction, the chief financial officer now owns 107,788 shares in the company, valued at $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 417,924 shares of company stock worth $94,142,399 in the last quarter. 0.06% of the stock is currently owned by corporate 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.