Global Wealth Management LLC Makes New $524,000 Investment in Apple Inc. (NASDAQ:AAPL)

Global Wealth Management LLC purchased a new position in shares of Apple Inc. (NASDAQ:AAPL) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,249 shares of the iPhone maker’s stock, valued at approximately $524,000. Apple makes up about 0.4% of Global Wealth Management LLC’s investment portfolio, making the stock its 19th biggest holding.

Several other institutional investors have also modified their holdings of the business. International Assets Investment Management LLC lifted its position in shares of Apple by 20,372.7% in the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after purchasing an additional 93,886,664 shares in the last quarter. Strategic Financial Concepts LLC grew its stake in Apple by 14,145.8% in the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after buying an additional 7,558,826 shares during the last quarter. Pathway Financial Advisers LLC lifted its holdings in Apple by 22,870.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 5,590,588 shares of the iPhone maker’s stock worth $1,302,607,000 after purchasing an additional 5,566,250 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in Apple in the 2nd quarter worth about $834,368,000. Finally, Ameriprise Financial Inc. grew its holdings in shares of Apple by 6.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after purchasing an additional 3,245,281 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Stock Up 1.1 %

Shares of Apple stock opened at $258.20 on Thursday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $258.21. The company has a market cap of $3.90 trillion, a P/E ratio of 42.47, a PEG ratio of 2.41 and a beta of 1.23. The company’s fifty day simple moving average is $235.93 and its two-hundred day simple moving average is $226.77. 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 released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The company 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%. Apple’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the firm posted $1.46 earnings per share. Research analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.39%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AAPL. Morgan Stanley reiterated an “overweight” rating and issued a $273.00 price target on shares of Apple in a research note on Friday, December 13th. Evercore ISI restated a “buy” rating and set a $250.00 price objective on shares of Apple in a report on Thursday, September 26th. Oppenheimer reiterated a “buy” rating and issued a $250.00 price objective on shares of Apple in a research note on Tuesday, October 1st. Barclays lowered their price objective on Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, November 1st. Finally, New Street Research reaffirmed a “neutral” rating and set a $225.00 target price on shares of Apple in a report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $236.78.

Insider Activity at Apple

In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the sale, the chief operating officer now owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This trade represents a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 508,170 shares of company stock valued at $117,004,745. 0.06% of the stock is owned by company insiders.

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.