Bright Futures Wealth Management LLC. Buys 304 Shares of Apple Inc. (NASDAQ:AAPL)

Bright Futures Wealth Management LLC. increased its stake in Apple Inc. (NASDAQ:AAPL) by 0.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 39,672 shares of the iPhone maker’s stock after buying an additional 304 shares during the period. Apple accounts for approximately 4.1% of Bright Futures Wealth Management LLC.’s portfolio, making the stock its 2nd largest position. Bright Futures Wealth Management LLC.’s holdings in Apple were worth $8,722,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AAPL. Fidelis Capital Partners LLC boosted its position 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 acquiring an additional 31,278 shares during the last quarter. Access Investment Management LLC acquired a new stake in shares of Apple in the first quarter worth approximately $140,000. Hoese & Co LLP boosted its position 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 acquiring an additional 57 shares during the last quarter. Sage Financial Group Inc. acquired a new stake in shares of Apple in the second quarter worth approximately $206,000. Finally, Benchmark Wealth Management LLC acquired a new stake in shares of Apple in the second quarter worth approximately $208,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Apple news, 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 value of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, 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 value of $20,644,000.00. Following the completion of the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the 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 transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 517,924 shares of company stock valued at $114,786,399 over the last three months. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AAPL shares. Robert W. Baird raised their target price on shares of Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Tigress Financial lifted their price target on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. The Goldman Sachs Group lifted their price target on shares of Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Piper Sandler Companies reaffirmed a “neutral” rating and set a $225.00 price target (up from $190.00) on shares of Apple in a research report on Tuesday, July 9th. Finally, StockNews.com raised shares of Apple from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $235.91.

Apple Stock Up 0.4 %

NASDAQ:AAPL opened at $231.41 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The stock has a 50 day moving average of $226.86 and a 200-day moving average of $210.34. The firm has a market capitalization of $3.55 trillion, a PE ratio of 35.99, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. During the same period last year, the company earned $1.26 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Analysts predict that Apple Inc. will post 6.65 EPS for the current year.

Apple Announces Dividend

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