Apple Inc. (NASDAQ:AAPL) Shares Bought by Texas Capital Bank Wealth Management Services Inc

Texas Capital Bank Wealth Management Services Inc lifted its stake in Apple Inc. (NASDAQ:AAPL) by 6.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 128,030 shares of the iPhone maker’s stock after acquiring an additional 7,300 shares during the period. Apple makes up 2.8% of Texas Capital Bank Wealth Management Services Inc’s portfolio, making the stock its 5th largest holding. Texas Capital Bank Wealth Management Services Inc’s holdings in Apple were worth $26,966,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Massachusetts Wealth Management increased its position in shares of Apple by 1.3% during the first quarter. Massachusetts Wealth Management now owns 22,116 shares of the iPhone maker’s stock valued at $3,792,000 after purchasing an additional 278 shares during the period. Kovack Advisors Inc. increased its holdings in Apple by 12.0% in the 1st quarter. Kovack Advisors Inc. now owns 218,770 shares of the iPhone maker’s stock valued at $37,515,000 after buying an additional 23,511 shares during the period. First Trust Direct Indexing L.P. increased its holdings in Apple by 10.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 363,789 shares of the iPhone maker’s stock valued at $62,383,000 after buying an additional 34,514 shares during the period. Legacy Wealth Asset Management LLC lifted its holdings in shares of Apple by 17.0% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 23,718 shares of the iPhone maker’s stock worth $4,067,000 after acquiring an additional 3,442 shares during the period. Finally, Accel Wealth Management boosted its position in shares of Apple by 3.9% during the 1st quarter. Accel Wealth Management now owns 26,559 shares of the iPhone maker’s stock valued at $4,554,000 after acquiring an additional 1,004 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the subject of several recent research reports. Citigroup increased their price target on shares of Apple to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Raymond James raised their target price on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Piper Sandler reiterated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research report on Wednesday, October 9th. Loop Capital cut their price objective on Apple from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, November 4th. Finally, Evercore ISI reaffirmed a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $235.51.

Insider Buying and Selling at Apple

In other news, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the transaction, the chief operating officer now owns 489,944 shares in the company, valued at $111,148,695.84. The trade was a 10.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 404,040 shares of company stock valued at $91,062,512. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Up 1.4 %

AAPL opened at $228.22 on Friday. The firm has a 50 day simple moving average of $226.84 and a 200 day simple moving average of $215.52. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The company has a market cap of $3.45 trillion, a price-to-earnings ratio of 37.54, a price-to-earnings-growth ratio of 2.20 and a beta of 1.24. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the previous year, the company posted $1.46 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

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.