Connecticut Wealth Management LLC Buys 366 Shares of Apple Inc. (NASDAQ:AAPL)

Connecticut Wealth Management LLC increased its stake in Apple Inc. (NASDAQ:AAPL) by 0.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 110,175 shares of the iPhone maker’s stock after purchasing an additional 366 shares during the period. Apple makes up 1.2% of Connecticut Wealth Management LLC’s holdings, making the stock its 16th largest position. Connecticut Wealth Management LLC’s holdings in Apple were worth $23,205,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of AAPL. Fidelis Capital Partners LLC increased 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 buying an additional 31,278 shares during the last quarter. Access Investment Management LLC acquired a new position in shares of Apple during the 1st quarter worth approximately $140,000. Hoese & Co LLP raised its stake in Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares during the period. Sage Financial Group Inc. acquired a new stake in Apple during the 2nd quarter valued at $206,000. Finally, Benchmark Wealth Management LLC bought a new position in Apple during the second quarter worth $208,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Robert W. Baird raised their target price on shares of Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. StockNews.com cut Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Rosenblatt Securities upped their target price on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Morgan Stanley restated an “overweight” rating and issued a $273.00 price target on shares of Apple in a research note on Tuesday, September 10th. Finally, Piper Sandler reiterated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research report on Wednesday, October 9th. Two 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $235.51.

Insider Buying and Selling

In related news, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,469,275. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the sale, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the sale, the senior vice president now directly owns 187,043 shares in the company, valued at $42,309,126.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 412,746 shares of company stock worth $93,021,362. 0.06% of the stock is owned by corporate insiders.

Apple Stock Down 0.1 %

Shares of Apple stock opened at $226.96 on Friday. The stock’s 50-day moving average is $226.82 and its 200 day moving average is $214.03. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The firm has a market cap of $3.43 trillion, a price-to-earnings ratio of 37.33, a PEG ratio of 2.18 and a beta of 1.24. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last posted its quarterly 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. The firm had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.46 EPS. Equities research analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s payout ratio is 16.45%.

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.