Wealth Effects LLC Has $19.37 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Wealth Effects LLC increased its position in Apple Inc. (NASDAQ:AAPL) by 3.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 91,951 shares of the iPhone maker’s stock after buying an additional 2,681 shares during the period. Apple comprises approximately 7.0% of Wealth Effects LLC’s holdings, making the stock its 3rd largest position. Wealth Effects LLC’s holdings in Apple were worth $19,367,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Brown Financial Advisory increased its position in shares of Apple by 3.8% during the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after acquiring an additional 50 shares during the period. Core Wealth Management Inc. increased its position in shares of Apple by 1.7% during the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after acquiring an additional 50 shares during the period. Klein Pavlis & Peasley Financial Inc. increased its position in shares of Apple by 1.1% during the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after acquiring an additional 51 shares during the period. Foresight Capital Management Advisors Inc. increased its position in shares of Apple by 0.3% during the second quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock worth $4,003,000 after acquiring an additional 55 shares during the period. Finally, Altus Wealth Management LLC increased its position in shares of Apple by 0.6% during the second quarter. Altus Wealth Management LLC now owns 9,508 shares of the iPhone maker’s stock worth $2,002,000 after acquiring an additional 55 shares during the period. Institutional investors own 60.41% of the company’s stock.

Insider Buying and Selling

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of Apple 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 completion of the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Apple news, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction on 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 completion of the transaction, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Katherine L. Adams sold 100,000 shares of Apple 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 owns 191,543 shares in the company, valued at approximately $39,542,136.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 517,924 shares of company stock valued at $114,786,399 over the last 90 days. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AAPL shares. Wedbush reaffirmed an “outperform” rating and set a $285.00 target price on shares of Apple in a research report on Monday, September 9th. Raymond James increased their price objective on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $265.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Morgan Stanley reiterated an “overweight” rating and set a $273.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $261.00 price objective on shares of Apple in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $239.27.

Apple Trading Up 1.2 %

Shares of Apple stock opened at $235.00 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The firm has a fifty day moving average price of $225.78 and a 200 day moving average price of $207.84. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The stock has a market cap of $3.60 trillion, a PE ratio of 36.55, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. During the same quarter last year, the company posted $1.26 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. Equities research analysts predict that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. Apple’s dividend payout ratio (DPR) is presently 15.55%.

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.