Apple Inc. (NASDAQ:AAPL) Holdings Lifted by Worth Asset Management LLC

Worth Asset Management LLC lifted its stake in Apple Inc. (NASDAQ:AAPL) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,185 shares of the iPhone maker’s stock after buying an additional 143 shares during the period. Apple makes up 2.4% of Worth Asset Management LLC’s investment portfolio, making the stock its 6th largest holding. Worth Asset Management LLC’s holdings in Apple were worth $4,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the stock. Ellenbecker Investment Group grew its position in Apple by 0.4% during the 2nd quarter. Ellenbecker Investment Group now owns 36,816 shares of the iPhone maker’s stock worth $7,754,000 after purchasing an additional 155 shares during the last quarter. Pacifica Partners Inc. grew its position in Apple by 0.6% during the 2nd quarter. Pacifica Partners Inc. now owns 63,404 shares of the iPhone maker’s stock worth $14,046,000 after purchasing an additional 405 shares during the last quarter. Cherrydale Wealth Management LLC grew its position in Apple by 27.4% during the 2nd quarter. Cherrydale Wealth Management LLC now owns 12,343 shares of the iPhone maker’s stock worth $2,600,000 after purchasing an additional 2,658 shares during the last quarter. TTP Investments Inc. grew its position in Apple by 2.5% during the 2nd quarter. TTP Investments Inc. now owns 107,643 shares of the iPhone maker’s stock worth $22,672,000 after purchasing an additional 2,597 shares during the last quarter. Finally, Lbmc Investment Advisors LLC grew its position in Apple by 23.6% during the 2nd quarter. Lbmc Investment Advisors LLC now owns 63,010 shares of the iPhone maker’s stock worth $13,271,000 after purchasing an additional 12,013 shares during the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AAPL has been the topic of several research reports. Sanford C. Bernstein raised their price objective on shares of Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. JPMorgan Chase & Co. raised their target price on shares of Apple from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Barclays reduced their target price on shares of Apple from $187.00 to $186.00 and set an “underweight” rating for the company in a research note on Friday, August 2nd. Evercore ISI restated an “outperform” rating and issued a $250.00 target price on shares of Apple in a research note on Tuesday, August 27th. Finally, UBS Group restated a “neutral” rating and issued a $190.00 target price on shares of Apple in a research note on Monday, July 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $237.30.

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the 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 transaction, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Apple news, insider Chris Kondo sold 8,706 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,469,275. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction on 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 sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The disclosure for this sale can be found here. Insiders have sold 113,884 shares of company stock worth $23,723,887 in the last ninety days. 0.06% of the stock is owned by insiders.

Apple Price Performance

Shares of AAPL stock opened at $229.00 on Friday. The company has a market capitalization of $3.51 trillion, a PE ratio of 35.61, a price-to-earnings-growth ratio of 2.60 and a beta of 1.24. The firm has a fifty day simple moving average of $221.88 and a 200-day simple moving average of $195.77. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.23.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.06. The business had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 145.35%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.26 earnings per share. Equities research analysts anticipate that Apple Inc. will post 6.61 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple’s dividend payout ratio (DPR) is 15.55%.

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.