BIP Wealth LLC Has $14.59 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

BIP Wealth LLC increased its position in Apple Inc. (NASDAQ:AAPL) by 13.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,622 shares of the iPhone maker’s stock after purchasing an additional 7,603 shares during the quarter. Apple makes up 1.0% of BIP Wealth LLC’s portfolio, making the stock its 16th biggest position. BIP Wealth LLC’s holdings in Apple were worth $14,585,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. High Net Worth Advisory Group LLC lifted its stake in Apple by 1.7% in the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after buying an additional 1,066 shares during the period. Granite Investment Partners LLC raised its position in shares of Apple by 2.7% in the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after acquiring an additional 7,606 shares during the period. Truist Financial Corp grew its holdings in Apple by 1.8% during the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after purchasing an additional 126,210 shares during the period. Sterling Investment Counsel LLC increased its stake in Apple by 3.8% in the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after purchasing an additional 2,565 shares in the last quarter. Finally, Silicon Valley Capital Partners raised its holdings in Apple by 12.8% in the third quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock worth $59,122,000 after purchasing an additional 28,799 shares during the period. 67.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AAPL shares. Monness Crespi & Hardt upped their price objective on shares of Apple to $245.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Rosenblatt Securities restated a “buy” rating and issued a $262.00 price target on shares of Apple in a report on Monday. The Goldman Sachs Group cut their price objective on Apple from $286.00 to $280.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $273.00 price target on shares of Apple in a research note on Friday, December 13th. Finally, Oppenheimer reissued a “buy” rating and set a $250.00 price objective on shares of Apple in a research report on Tuesday, October 1st. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $238.05.

Apple Trading Up 3.2 %

NASDAQ AAPL opened at $229.82 on Tuesday. The firm has a market capitalization of $3.46 trillion, a PE ratio of 37.80, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20. The business’s 50-day moving average price is $240.93 and its two-hundred day moving average price is $230.68. 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 earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same period in the prior year, the business posted $1.46 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. On average, analysts expect that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is presently 16.45%.

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,130 shares of the stock in a transaction 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 transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Apple Company 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.