Ruedi Wealth Management Inc. Grows Position in Apple Inc. (NASDAQ:AAPL)

Ruedi Wealth Management Inc. grew its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,263 shares of the iPhone maker’s stock after purchasing an additional 227 shares during the period. Apple comprises about 1.7% of Ruedi Wealth Management Inc.’s holdings, making the stock its 15th largest holding. Ruedi Wealth Management Inc.’s holdings in Apple were worth $4,268,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of AAPL. Divergent Wealth Advisors bought a new stake in shares of Apple during the second quarter valued at approximately $317,000. Comprehensive Financial Consultants Institutional Inc. grew its position in Apple by 3.1% during the 2nd quarter. Comprehensive Financial Consultants Institutional Inc. now owns 29,262 shares of the iPhone maker’s stock valued at $6,163,000 after purchasing an additional 878 shares during the last quarter. Mcdonald Partners LLC boosted its stake in Apple by 4.0% during the 2nd quarter. Mcdonald Partners LLC now owns 77,458 shares of the iPhone maker’s stock valued at $16,314,000 after purchasing an additional 2,959 shares during the last quarter. BlueSky Wealth Advisors LLC increased its holdings in Apple by 42.1% in the 2nd quarter. BlueSky Wealth Advisors LLC now owns 8,516 shares of the iPhone maker’s stock worth $1,794,000 after buying an additional 2,521 shares in the last quarter. Finally, Midwest Heritage Bank FSB purchased a new position in shares of Apple during the second quarter valued at approximately $315,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Piper Sandler Companies reissued a “neutral” rating and set a $225.00 price target (up previously from $190.00) on shares of Apple in a report on Tuesday, July 9th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $265.00 price target on shares of Apple in a research note on Tuesday. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $245.00 price objective on shares of Apple in a report on Monday, September 9th. Melius Research reissued a “buy” rating and issued a $265.00 target price on shares of Apple in a report on Tuesday, August 27th. Finally, UBS Group raised their target price on shares of Apple from $190.00 to $236.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $238.62.

Insider Buying and Selling at Apple

In related news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction that occurred 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 transaction, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,884 shares of company stock worth $23,723,887. 0.06% of the stock is currently owned by corporate insiders.

Apple Trading Down 0.1 %

Shares of AAPL stock opened at $222.50 on Friday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23. The company has a market cap of $3.38 trillion, a PE ratio of 34.60, a price-to-earnings-growth ratio of 2.62 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 business’s 50 day moving average is $223.14 and its two-hundred day moving average is $198.52.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The business had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the business earned $1.26 earnings per share. Equities analysts predict that Apple Inc. will post 6.7 EPS for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio is currently 15.55%.

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.