Angeles Wealth Management LLC Purchases 12,741 Shares of Apple Inc. (NASDAQ:AAPL)

Angeles Wealth Management LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 11.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 119,751 shares of the iPhone maker’s stock after purchasing an additional 12,741 shares during the quarter. Apple comprises 2.4% of Angeles Wealth Management LLC’s investment portfolio, making the stock its 11th biggest holding. Angeles Wealth Management LLC’s holdings in Apple were worth $25,222,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Access Investment Management LLC purchased a new stake in shares of Apple in the 1st quarter worth approximately $140,000. Hoese & Co LLP boosted its holdings in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after acquiring an additional 57 shares in the last quarter. Sage Financial Group Inc. bought a new stake in Apple in the second quarter worth $206,000. Benchmark Wealth Management LLC purchased a new stake in shares of Apple in the second quarter worth $208,000. Finally, Sequent Asset Management LLC bought a new position in shares of Apple during the second quarter valued at $214,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. 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 can be accessed through this hyperlink. In other news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. The trade was a 0.00 % decrease in their ownership of the stock. 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 in the last three months. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

AAPL has been the topic of several recent analyst reports. Bank of America reissued a “buy” rating and set a $256.00 price objective on shares of Apple in a research report on Thursday, October 3rd. Tigress Financial increased their price target on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 28th. Moffett Nathanson started coverage on shares of Apple in a report on Monday, August 19th. They issued a “neutral” rating and a $211.00 price objective for the company. Wedbush reiterated an “outperform” rating and set a $285.00 target price on shares of Apple in a research note on Monday, September 9th. Finally, Piper Sandler Companies restated a “neutral” rating and issued a $225.00 price target (up previously from $190.00) on shares of Apple in a research note on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $235.91.

Apple Stock Up 0.9 %

AAPL opened at $233.40 on Tuesday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The stock has a market cap of $3.58 trillion, a price-to-earnings ratio of 36.30, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. The firm’s fifty day moving average is $227.01 and its 200 day moving average is $211.05.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same period in the previous year, the business earned $1.26 earnings per share. The business’s revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts forecast that Apple Inc. will post 6.65 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.43%. Apple’s payout ratio is 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.