Apple Inc. (NASDAQ:AAPL) is Whalen Wealth Management Inc.’s 4th Largest Position

Whalen Wealth Management Inc. lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 91.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,152 shares of the iPhone maker’s stock after acquiring an additional 10,561 shares during the period. Apple comprises approximately 3.7% of Whalen Wealth Management Inc.’s holdings, making the stock its 4th largest holding. Whalen Wealth Management Inc.’s holdings in Apple were worth $4,666,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AAPL. Fidelis Capital Partners LLC grew its stake in shares of Apple by 17.9% in the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after purchasing an additional 31,278 shares in the last quarter. Access Investment Management LLC bought a new position in shares of Apple in the first quarter worth $140,000. Hoese & Co LLP grew its stake in shares of Apple by 6.7% in 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 in the last quarter. Benchmark Wealth Management LLC bought a new position in shares of Apple in the second quarter worth $208,000. Finally, Compass Financial Group Inc. bought a new position in shares of Apple in the first quarter worth $210,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AAPL shares. Piper Sandler reaffirmed a “neutral” rating and set a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. Jefferies Financial Group downgraded Apple from a “buy” rating to a “hold” rating and upped their target price for the company from $205.00 to $212.92 in a report on Monday, October 7th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $265.00 target price on shares of Apple in a report on Tuesday, September 10th. Sanford C. Bernstein upped their target price on Apple from $195.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, June 21st. Finally, Melius Research reaffirmed a “buy” rating and set a $265.00 target price on shares of Apple in a report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, thirteen 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $239.27.

Insider Buying and Selling at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on Wednesday, October 2nd. The stock was 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 of the company’s stock, valued at approximately $736,269,202.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Katherine L. Adams sold 100,000 shares of Apple 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 transaction, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 517,924 shares of company stock worth $114,786,399. 0.06% of the stock is currently owned by insiders.

Apple Price Performance

Shares of AAPL stock opened at $232.15 on Friday. The stock has a 50 day moving average of $225.41 and a two-hundred day moving average of $207.39. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The company has a market capitalization of $3.56 trillion, a P/E ratio of 36.10, a P/E/G ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping 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 return on equity of 147.15% and a net margin of 26.44%. Apple’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned $1.26 EPS. As a group, equities analysts expect that Apple Inc. will post 6.65 EPS for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.43%. Apple’s payout ratio 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.