Apple Inc. (NASDAQ:AAPL) is 1858 Wealth Management LLC’s 2nd Largest Position

1858 Wealth Management LLC grew its holdings in Apple Inc. (NASDAQ:AAPL) by 12.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,270 shares of the iPhone maker’s stock after buying an additional 3,452 shares during the period. Apple makes up 5.5% of 1858 Wealth Management LLC’s portfolio, making the stock its 2nd largest holding. 1858 Wealth Management LLC’s holdings in Apple were worth $6,586,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in AAPL. Norges Bank bought a new stake in shares of Apple in the 4th quarter valued at about $33,912,466,000. Vanguard Group Inc. lifted its stake in shares of Apple by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after purchasing an additional 18,067,216 shares during the period. Swedbank AB acquired a new position in shares of Apple in the 1st quarter valued at $3,026,492,000. Global Assets Advisory LLC raised its position in Apple by 23,076.4% during the first quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock worth $1,584,512,000 after acquiring an additional 9,200,345 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in Apple by 158.3% during the first quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock worth $1,977,582,000 after acquiring an additional 7,067,379 shares during the period. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Apple news, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,469,275. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,884 shares of company stock valued at $23,723,887. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Tigress Financial upped their target price on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. Citigroup reissued a “buy” rating and set a $255.00 price target on shares of Apple in a research report on Tuesday, August 27th. Moffett Nathanson started coverage on shares of Apple in a research report on Monday, August 19th. They set a “neutral” rating and a $211.00 price target on the stock. Melius Research reaffirmed a “buy” rating and issued a $265.00 target price on shares of Apple in a report on Tuesday, August 27th. Finally, The Goldman Sachs Group raised their target price on shares of Apple from $265.00 to $275.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $239.17.

Apple Stock Down 2.8 %

AAPL stock opened at $216.32 on Tuesday. The company has a market cap of $3.32 trillion, a P/E ratio of 33.64, a P/E/G ratio of 2.62 and a beta of 1.24. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.23. The company’s 50-day moving average price is $222.91 and its 200 day moving average price is $199.00. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The firm had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.26 earnings per share. On average, research analysts expect that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio is currently 15.55%.

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.