Midland Wealth Advisors LLC Has $13.17 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Midland Wealth Advisors LLC lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 62,524 shares of the iPhone maker’s stock after selling 635 shares during the period. Apple comprises 0.8% of Midland Wealth Advisors LLC’s investment portfolio, making the stock its 16th largest holding. Midland Wealth Advisors LLC’s holdings in Apple were worth $13,169,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of AAPL. Fidelis Capital Partners LLC grew its holdings in shares of Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after buying an additional 31,278 shares in the last quarter. Access Investment Management LLC purchased a new stake in Apple in the 1st quarter worth about $140,000. Hoese & Co LLP boosted its position in Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after acquiring an additional 57 shares during the period. Benchmark Wealth Management LLC purchased a new position in Apple during the 2nd quarter valued at about $208,000. Finally, Compass Financial Group Inc. acquired a new position in shares of Apple in the 1st quarter valued at about $210,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Apple

In related news, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction dated Friday, October 4th. The stock was 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the transaction, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 517,924 shares of company stock worth $114,786,399. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AAPL. Piper Sandler Companies restated a “neutral” rating and set a $225.00 price target (up from $190.00) on shares of Apple in a report on Tuesday, July 9th. Oppenheimer reissued a “buy” rating and set a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. The Goldman Sachs Group upped their price target on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. New Street Research reiterated a “neutral” rating and set a $225.00 price objective on shares of Apple in a report on Wednesday, September 25th. Finally, Piper Sandler restated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. 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. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.27.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $232.15 on Friday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The company has a market cap 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. The business’s 50 day moving average is $225.41 and its two-hundred day moving average is $207.39. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) 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 analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. Apple’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.26 earnings per share. On average, equities analysts expect that Apple Inc. will post 6.65 EPS for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio is currently 15.55%.

Apple Company 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.