Apple Inc. (NASDAQ:AAPL) is B. Riley Wealth Advisors Inc.’s Largest Position

B. Riley Wealth Advisors Inc. boosted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 20.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 940,854 shares of the iPhone maker’s stock after buying an additional 162,881 shares during the period. Apple makes up approximately 5.0% of B. Riley Wealth Advisors Inc.’s holdings, making the stock its largest holding. B. Riley Wealth Advisors Inc.’s holdings in Apple were worth $198,163,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AAPL. Fidelis Capital Partners LLC boosted its holdings in Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after acquiring an additional 31,278 shares during the period. Access Investment Management LLC bought a new stake in shares of Apple during the first quarter worth $140,000. Hoese & Co LLP lifted its position in shares of Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the last quarter. Sage Financial Group Inc. purchased a new stake in shares of Apple during the second quarter valued at $206,000. Finally, Benchmark Wealth Management LLC bought a new position in shares of Apple in the second quarter worth about $208,000. 60.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Luca Maestri sold 59,305 shares of the 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 sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This represents a 35.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’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 sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 404,040 shares of company stock valued at $91,062,512 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Apple Stock Down 1.4 %

Shares of AAPL stock opened at $225.00 on Friday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The firm has a market capitalization of $3.40 trillion, a PE ratio of 37.01, a P/E/G ratio of 2.21 and a beta of 1.24. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The stock’s 50-day simple moving average is $226.96 and its 200-day simple moving average is $215.60.

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, topping 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 for the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter in the prior year, the company earned $1.46 EPS. Apple’s quarterly revenue was up 6.1% on a year-over-year basis. Equities analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a dividend of $0.25 per share. 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 payout ratio is currently 16.45%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AAPL. Maxim Group boosted their price objective on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Loop Capital lowered their price target on Apple from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, November 4th. Piper Sandler reissued a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research note on Wednesday, October 9th. TD Cowen lifted their target price on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Morgan Stanley reissued an “overweight” rating and set a $273.00 price target on shares of Apple in a research report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $235.51.

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.