Wealthgate Family Office LLC Purchases 698 Shares of Apple Inc. (NASDAQ:AAPL)

Wealthgate Family Office LLC grew its position in Apple Inc. (NASDAQ:AAPL) by 4.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,283 shares of the iPhone maker’s stock after purchasing an additional 698 shares during the period. Apple makes up 8.4% of Wealthgate Family Office LLC’s holdings, making the stock its 3rd largest position. Wealthgate Family Office LLC’s holdings in Apple were worth $3,430,000 at the end of the most recent quarter.

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

Apple Price Performance

AAPL opened at $223.45 on Wednesday. The company has a 50-day moving average of $226.98 and a 200-day moving average of $213.44. The company has a market capitalization of $3.40 trillion, a P/E ratio of 36.75, a PEG ratio of 2.39 and a beta of 1.24. 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 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same period in the previous year, the business posted $1.46 EPS. The company’s quarterly revenue was up 6.1% on a year-over-year basis. Equities analysts expect that Apple Inc. will post 7.45 EPS for the current fiscal year.

Apple Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Maxim Group raised their target price on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research report on Friday, November 1st. TD Cowen raised their target price on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Needham & Company LLC restated a “buy” rating and issued a $260.00 target price on shares of Apple in a research report on Friday, November 1st. Wedbush restated an “outperform” rating and issued a $285.00 target price on shares of Apple in a research report on Monday, September 9th. Finally, Tigress Financial raised their target price on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, twelve 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $235.51.

Insider Buying and Selling at Apple

In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $111,148,695.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the sale, the chief operating officer now directly owns 489,944 shares in the company, valued at $111,148,695.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Insiders sold 417,924 shares of company stock valued at $94,142,399 in the last ninety days. Company insiders own 0.06% of the company’s stock.

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.