Jupiter Wealth Management LLC Acquires 404 Shares of Apple Inc. (NASDAQ:AAPL)

Jupiter Wealth Management LLC lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 59,192 shares of the iPhone maker’s stock after buying an additional 404 shares during the period. Apple comprises about 7.1% of Jupiter Wealth Management LLC’s portfolio, making the stock its 3rd biggest holding. Jupiter Wealth Management LLC’s holdings in Apple were worth $13,792,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. International Assets Investment Management LLC boosted its holdings in shares of Apple by 20,372.7% during the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after acquiring an additional 93,886,664 shares in the last quarter. Strategic Financial Concepts LLC raised its position in Apple by 14,145.8% in the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after purchasing an additional 7,558,826 shares during the last quarter. Pathway Financial Advisers LLC boosted its stake in shares of Apple by 22,870.6% during the third quarter. Pathway Financial Advisers LLC now owns 5,590,588 shares of the iPhone maker’s stock valued at $1,302,607,000 after purchasing an additional 5,566,250 shares in the last quarter. William Blair Investment Management LLC bought a new stake in shares of Apple during the second quarter worth about $834,368,000. Finally, National Pension Service increased its stake in shares of Apple by 14.0% in the third quarter. National Pension Service now owns 27,882,996 shares of the iPhone maker’s stock valued at $6,496,738,000 after buying an additional 3,416,922 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Up 0.8 %

Apple stock opened at $229.98 on Friday. The firm has a market capitalization of $3.48 trillion, a price-to-earnings ratio of 37.83, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. The firm’s fifty day moving average price is $241.01 and its two-hundred day moving average price is $230.65. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.

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

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is currently 16.45%.

Insider Buying and Selling at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on AAPL shares. KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price on the stock. in a research report on Friday, October 25th. Sanford C. Bernstein boosted their price objective on shares of Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Piper Sandler reaffirmed a “neutral” rating and set a $225.00 target price on shares of Apple in a research report on Wednesday, October 9th. New Street Research reiterated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research report on Wednesday, September 25th. Finally, Citigroup raised their price objective on Apple to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $239.85.

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.