Revolve Wealth Partners LLC Grows Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Revolve Wealth Partners LLC grew its holdings in Apple Inc. (NASDAQ:AAPL) by 8.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,162 shares of the iPhone maker’s stock after acquiring an additional 5,116 shares during the period. Apple comprises 2.3% of Revolve Wealth Partners LLC’s holdings, making the stock its 13th biggest position. Revolve Wealth Partners LLC’s holdings in Apple were worth $14,950,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Veracity Capital LLC boosted its holdings in Apple by 1.1% during the third quarter. Veracity Capital LLC now owns 36,629 shares of the iPhone maker’s stock worth $8,535,000 after buying an additional 392 shares in the last quarter. Verde Capital Management boosted its holdings in Apple by 83.2% during the third quarter. Verde Capital Management now owns 6,506 shares of the iPhone maker’s stock worth $1,516,000 after buying an additional 2,954 shares in the last quarter. Wealth Alliance Advisory Group LLC boosted its holdings in Apple by 2.0% during the third quarter. Wealth Alliance Advisory Group LLC now owns 52,907 shares of the iPhone maker’s stock worth $12,327,000 after buying an additional 1,060 shares in the last quarter. McBroom & Associates LLC boosted its holdings in Apple by 1.1% during the third quarter. McBroom & Associates LLC now owns 36,637 shares of the iPhone maker’s stock worth $8,536,000 after buying an additional 396 shares in the last quarter. Finally, Waypoint Capital Advisors LLC boosted its holdings in Apple by 1.0% during the third quarter. Waypoint Capital Advisors LLC now owns 50,660 shares of the iPhone maker’s stock worth $11,804,000 after buying an additional 525 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

Apple stock opened at $248.13 on Friday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $250.80. The stock has a market cap of $3.75 trillion, a P/E ratio of 40.81, a PEG ratio of 2.41 and a beta of 1.23. The company has a 50-day moving average price of $232.50 and a 200 day moving average price of $223.41. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last announced 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 during the quarter, compared to analysts’ expectations of $94.52 billion. During the same period last year, the business earned $1.46 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. Sell-side analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current 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 given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is presently 16.45%.

Insider Buying and Selling at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 408,170 shares of company stock worth $92,007,745 over the last three months. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on AAPL shares. Melius Research reaffirmed a “buy” rating and set a $265.00 price objective on shares of Apple in a report on Tuesday, August 27th. Loop Capital decreased their price objective on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price objective on shares of Apple in a report on Tuesday. UBS Group reaffirmed a “neutral” rating and set a $236.00 price objective on shares of Apple in a report on Monday, December 2nd. Finally, StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $236.78.

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.