Apple Inc. (NASDAQ:AAPL) Holdings Boosted by Tower Wealth Partners Inc.

Tower Wealth Partners Inc. grew its holdings in Apple Inc. (NASDAQ:AAPL) by 8.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,675 shares of the iPhone maker’s stock after purchasing an additional 954 shares during the period. Apple makes up 1.5% of Tower Wealth Partners Inc.’s portfolio, making the stock its 12th biggest position. Tower Wealth Partners Inc.’s holdings in Apple were worth $2,459,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of AAPL. Swedbank AB acquired a new position in Apple in the 1st quarter valued at approximately $3,026,492,000. Strategic Financial Concepts LLC raised its holdings in shares of Apple by 14,145.8% during the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after acquiring an additional 7,558,826 shares in the last quarter. Canada Pension Plan Investment Board boosted 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 valued at $1,977,582,000 after purchasing an additional 7,067,379 shares during the last quarter. Lazard Asset Management LLC grew its stake in Apple by 161.2% in the first quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock valued at $1,502,068,000 after purchasing an additional 5,405,542 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new position in Apple in the 2nd quarter worth about $834,368,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Down 0.4 %

Shares of NASDAQ:AAPL opened at $222.01 on Tuesday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The firm has a market cap of $3.38 trillion, a P/E ratio of 36.51, a P/E/G ratio of 2.41 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The company’s 50-day moving average price is $227.07 and its two-hundred day moving average price is $213.03.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 145.09%. The business had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same quarter last year, the business posted $1.46 earnings per share. Apple’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, research analysts forecast that Apple Inc. will post 7.48 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently declared 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. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AAPL. Piper Sandler reiterated a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price for the company. in a research report on Friday, October 25th. Robert W. Baird raised their price target on shares of Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. The Goldman Sachs Group upped their price objective on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Barclays lowered their target price on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $235.51.

Insider Activity at Apple

In other Apple news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Chris Kondo sold 5,178 shares of Apple 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 of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at this link. Also, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 417,924 shares of company stock worth $94,142,399 over the last 90 days. Insiders own 0.06% of the company’s stock.

Apple 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.