Apple Inc. (NASDAQ:AAPL) Holdings Lifted by Providence Wealth Advisors LLC

Providence Wealth Advisors LLC raised its position in Apple Inc. (NASDAQ:AAPL) by 0.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 44,995 shares of the iPhone maker’s stock after buying an additional 342 shares during the period. Apple accounts for 7.7% of Providence Wealth Advisors LLC’s investment portfolio, making the stock its 3rd biggest holding. Providence Wealth Advisors LLC’s holdings in Apple were worth $9,662,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. Bellwether Advisors LLC raised its holdings in shares of Apple by 387.3% in the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock worth $5,128,000 after purchasing an additional 19,352 shares during the period. Gentry Private Wealth LLC bought a new stake in shares of Apple in the second quarter valued at $876,000. WT Asset Management Ltd purchased a new position in shares of Apple during the 2nd quarter valued at $80,057,000. TD Asset Management Inc grew its stake in shares of Apple by 10.3% during the 2nd quarter. TD Asset Management Inc now owns 16,745,201 shares of the iPhone maker’s stock worth $3,526,874,000 after acquiring an additional 1,557,848 shares during the period. Finally, Councilmark Asset Management LLC purchased a new stake in Apple in the 1st quarter worth about $11,776,000. Institutional investors own 60.41% of the company’s stock.

Insider Transactions at Apple

In related news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction on 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 $39,542,136.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 517,924 shares of company stock worth $114,786,399. Company insiders own 0.06% of the company’s stock.

Apple Stock Down 1.3 %

Shares of AAPL opened at $222.91 on Friday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. 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 stock has a 50 day simple moving average of $227.18 and a two-hundred day simple moving average of $212.33. The firm has a market cap of $3.39 trillion, a P/E ratio of 33.93, a P/E/G ratio of 2.45 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.15. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.46 EPS. On average, analysts forecast that Apple Inc. will post 6.6 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. Apple’s dividend payout ratio (DPR) is currently 15.22%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wedbush reiterated an “outperform” rating and set a $285.00 target price on shares of Apple in a research report on Monday, September 9th. Melius Research reaffirmed a “buy” rating and issued a $265.00 price objective on shares of Apple in a report on Tuesday, August 27th. Morgan Stanley reissued an “overweight” rating and set a $273.00 target price on shares of Apple in a report on Tuesday, September 10th. Rosenblatt Securities raised their price target on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a report on Friday. Finally, Barclays decreased their price objective on Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.23.

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.