Apple Inc. (NASDAQ:AAPL) is Angeles Wealth Management LLC’s 10th Largest Position

Angeles Wealth Management LLC raised its stake in Apple Inc. (NASDAQ:AAPL) by 6.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 127,059 shares of the iPhone maker’s stock after acquiring an additional 7,308 shares during the quarter. Apple makes up 2.5% of Angeles Wealth Management LLC’s holdings, making the stock its 10th biggest position. Angeles Wealth Management LLC’s holdings in Apple were worth $29,605,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its holdings in Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after purchasing an additional 93,886,664 shares during the last quarter. Strategic Financial Concepts LLC raised its position in shares of Apple by 14,145.8% in the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after purchasing an additional 7,558,826 shares during the period. Pathway Financial Advisers LLC lifted its stake in shares of 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 valued at $1,302,607,000 after buying an additional 5,566,250 shares in the last quarter. William Blair Investment Management LLC bought a new position in Apple in the 2nd quarter worth approximately $834,368,000. Finally, Ameriprise Financial Inc. grew its stake in Apple by 6.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock valued at $10,909,457,000 after buying an additional 3,245,281 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Sanford C. Bernstein increased their target price on Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday. Oppenheimer restated a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. Loop Capital reduced their target price on Apple from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, November 4th. Rosenblatt Securities increased their price target on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Monness Crespi & Hardt reaffirmed a “buy” rating and set a $245.00 price objective on shares of Apple in a research note on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $238.03.

Apple Price Performance

AAPL stock opened at $245.00 on Tuesday. The stock has a market capitalization of $3.70 trillion, a price-to-earnings ratio of 40.30, a PEG ratio of 2.41 and a beta of 1.20. The firm’s 50-day moving average price is $239.15 and its two-hundred day moving average price is $229.33. 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 Inc. has a 12-month low of $164.07 and a 12-month high of $260.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter in the previous year, the business earned $1.46 EPS. Apple’s revenue was up 6.1% compared to the same quarter last year. As a group, equities analysts predict that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

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

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 transaction of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at $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. 0.06% of the stock is currently owned by 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.