Nova R Wealth Inc. Has $7.95 Million Position in Apple Inc. (NASDAQ:AAPL)

Nova R Wealth Inc. grew its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,104 shares of the iPhone maker’s stock after acquiring an additional 595 shares during the period. Apple comprises approximately 3.9% of Nova R Wealth Inc.’s holdings, making the stock its 9th largest position. Nova R Wealth Inc.’s holdings in Apple were worth $7,946,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AAPL. Hershey Financial Advisers LLC bought a new position in Apple in the 2nd quarter worth approximately $42,000. Christopher J. Hasenberg Inc boosted its position in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares during the last quarter. Hoese & Co LLP increased its holdings 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 last quarter. Sage Financial Group Inc. purchased a new stake in Apple in the 2nd quarter worth $206,000. Finally, Benchmark Wealth Management LLC bought a new position in shares of Apple during the 2nd quarter valued at about $208,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This trade represents a 6.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 408,170 shares of company stock valued at $92,007,745. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AAPL. Morgan Stanley reaffirmed an “overweight” rating and issued a $273.00 target price on shares of Apple in a report on Monday, November 25th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $265.00 price objective on shares of Apple in a report on Tuesday, September 10th. Moffett Nathanson cut their target price on shares of Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a report on Tuesday, November 19th. KeyCorp lowered shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective for the company. in a research report on Friday, October 25th. Finally, Monness Crespi & Hardt reissued a “buy” rating and issued a $245.00 price objective on shares of Apple in a research note on Monday, September 9th. Two 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $235.68.

Apple Stock Performance

Shares of Apple stock opened at $243.04 on Friday. The company has a market capitalization of $3.67 trillion, a PE ratio of 39.97, a P/E/G ratio of 2.38 and a beta of 1.23. The company has a 50-day simple moving average of $230.23 and a two-hundred day simple moving average of $221.05. Apple Inc. has a one year low of $164.07 and a one year high of $244.54. 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 announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.46 EPS. Research analysts expect that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

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.