Summit Wealth Partners LLC Purchases 920 Shares of Apple Inc. (NASDAQ:AAPL)

Summit Wealth Partners LLC raised its position in Apple Inc. (NASDAQ:AAPL) by 4.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,903 shares of the iPhone maker’s stock after buying an additional 920 shares during the quarter. Summit Wealth Partners LLC’s holdings in Apple were worth $4,192,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Verus Financial Partners Inc. raised its stake in shares of Apple by 0.3% during the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after purchasing an additional 48 shares during the period. Brown Financial Advisory grew its holdings in Apple by 3.8% during the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after buying an additional 50 shares in the last quarter. Core Wealth Management Inc. increased its position in shares of Apple by 1.7% during the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after buying an additional 50 shares during the period. Lowery Thomas LLC lifted its holdings in shares of Apple by 0.7% in the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after buying an additional 50 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. boosted its position in shares of Apple by 1.1% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock valued at $949,000 after acquiring an additional 51 shares during the period. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Apple

In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the transaction, the chief operating officer now owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. This trade represents a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Luca Maestri sold 59,305 shares of the business’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 sale, the chief financial officer now owns 107,788 shares in the company, valued at approximately $24,416,137.76. This trade represents a 35.49 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 404,040 shares of company stock valued at $91,062,512. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AAPL shares. Tigress Financial increased their target price on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, August 28th. Rosenblatt Securities lifted their price objective on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Monness Crespi & Hardt restated a “buy” rating and set a $245.00 target price on shares of Apple in a research report on Monday, September 9th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $265.00 price target on shares of Apple in a report on Tuesday, September 10th. Finally, Piper Sandler reissued a “neutral” rating and set a $225.00 price objective on shares of Apple in a report on Wednesday, October 9th. Two investment 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $235.51.

Apple Stock Down 1.4 %

NASDAQ AAPL opened at $225.00 on Monday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The stock has a market capitalization of $3.40 trillion, a PE ratio of 37.01, a PEG ratio of 2.20 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. The business’s 50-day moving average is $227.04 and its 200 day moving average is $216.61.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share 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 analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company earned $1.46 EPS. Sell-side analysts forecast that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

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

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.