New Wave Wealth Advisors LLC Takes Position in Apple Inc. (NASDAQ:AAPL)

New Wave Wealth Advisors LLC acquired a new position in Apple Inc. (NASDAQ:AAPL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 23,334 shares of the iPhone maker’s stock, valued at approximately $4,915,000. Apple comprises about 2.6% of New Wave Wealth Advisors LLC’s investment portfolio, making the stock its 7th largest position.

A number of other large investors have also added to or reduced their stakes in AAPL. Fidelis Capital Partners LLC lifted its stake in shares of Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after buying an additional 31,278 shares in the last quarter. Hershey Financial Advisers LLC purchased a new stake in Apple during the second quarter valued at about $42,000. Access Investment Management LLC bought a new stake in Apple in the first quarter valued at approximately $140,000. Hoese & Co LLP raised its stake in shares of Apple by 6.7% during the second 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 last quarter. Finally, Sage Financial Group Inc. purchased a new position in shares of Apple during the second quarter valued at approximately $206,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Stock Down 1.4 %

Shares of Apple stock opened at $225.00 on Friday. The stock has a market cap of $3.40 trillion, a price-to-earnings ratio of 37.01, a PEG ratio of 2.21 and a beta of 1.24. The firm’s 50-day moving average is $227.04 and its two-hundred day moving average is $215.96. 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 Inc. has a 1 year low of $164.07 and a 1 year high of $237.49.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating 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 business had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same period last year, the business earned $1.46 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. As a group, research analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Analyst Ratings Changes

AAPL has been the subject of a number of research reports. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Robert W. Baird upped their price target on shares of Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Raymond James upped their price target on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Loop Capital decreased their price target on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, Oppenheimer reiterated a “buy” rating and issued a $250.00 price target on shares of Apple in a report on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $235.51.

Insiders Place Their Bets

In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was 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 owns 489,944 shares in the company, valued at approximately $111,148,695.84. This represents a 10.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Luca Maestri sold 59,305 shares of the stock in a transaction dated 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 directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. The trade was a 35.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 404,040 shares of company stock valued at $91,062,512. 0.06% of the stock is owned by company insiders.

About Apple

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.