Apple Inc. (NASDAQ:AAPL) is Fifth Third Wealth Advisors LLC’s 4th Largest Position

Fifth Third Wealth Advisors LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 174.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 243,613 shares of the iPhone maker’s stock after buying an additional 154,841 shares during the period. Apple makes up approximately 3.9% of Fifth Third Wealth Advisors LLC’s holdings, making the stock its 4th largest holding. Fifth Third Wealth Advisors LLC’s holdings in Apple were worth $51,310,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AAPL. Vanguard Group Inc. grew its holdings in shares of Apple by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock worth $253,766,929,000 after purchasing an additional 18,067,216 shares during the last quarter. Norges Bank purchased a new stake in Apple in the fourth quarter worth about $33,912,466,000. Wellington Management Group LLP raised its stake in Apple by 3.6% in the fourth quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock worth $11,677,190,000 after buying an additional 2,096,360 shares in the last quarter. Fisher Asset Management LLC grew its stake in Apple by 2.0% in the fourth quarter. Fisher Asset Management LLC now owns 54,702,300 shares of the iPhone maker’s stock valued at $10,531,834,000 after purchasing an additional 1,067,587 shares during the last quarter. Finally, Capital International Investors boosted its holdings in shares of Apple by 7.1% in the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock valued at $6,369,852,000 after buying an additional 2,474,887 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors.

Apple Stock Down 0.3 %

Apple stock opened at $228.20 on Monday. The stock has a market cap of $3.50 trillion, a price-to-earnings ratio of 35.49, a PEG ratio of 2.62 and a beta of 1.24. 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 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 $222.41 and its two-hundred day moving average price is $200.41.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating the consensus estimate of $1.34 by $0.06. The business had revenue of $85.78 billion during 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 quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.26 EPS. On average, analysts expect that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date was Monday, August 12th. Apple’s payout ratio is currently 15.55%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AAPL shares. Oppenheimer reissued an “outperform” rating and issued a $250.00 price target on shares of Apple in a report on Tuesday, September 10th. Raymond James upped their price target on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Cfra upped their price objective on Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Maxim Group restated a “hold” rating and set a $203.00 target price on shares of Apple in a research report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $265.00 target price on shares of Apple in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $239.17.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was 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 directly owns 191,543 shares in the company, valued at $39,542,136.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the sale, the insider now owns 15,419 shares in the company, valued at $3,469,275. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,884 shares of company stock worth $23,723,887. 0.06% of the stock is owned by corporate 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.