Purus Wealth Management LLC Purchases 1,629 Shares of Apple Inc. (NASDAQ:AAPL)

Purus Wealth Management LLC boosted its position in Apple Inc. (NASDAQ:AAPL) by 3.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 50,462 shares of the iPhone maker’s stock after acquiring an additional 1,629 shares during the quarter. Apple makes up approximately 4.7% of Purus Wealth Management LLC’s investment portfolio, making the stock its 4th largest holding. Purus Wealth Management LLC’s holdings in Apple were worth $10,628,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Wealthgate Family Office LLC grew its position in Apple by 4.5% in the 2nd quarter. Wealthgate Family Office LLC now owns 16,283 shares of the iPhone maker’s stock worth $3,430,000 after purchasing an additional 698 shares during the last quarter. Meridian Wealth Partners LLC grew its position in Apple by 2.4% in the 2nd quarter. Meridian Wealth Partners LLC now owns 39,235 shares of the iPhone maker’s stock worth $8,264,000 after purchasing an additional 930 shares during the last quarter. Central Asset Investments & Management Holdings HK Ltd acquired a new stake in Apple in the 2nd quarter worth $1,996,000. E Fund Management Co. Ltd. grew its position in Apple by 31.6% in the 2nd quarter. E Fund Management Co. Ltd. now owns 306,884 shares of the iPhone maker’s stock worth $64,636,000 after purchasing an additional 73,629 shares during the last quarter. Finally, DecisionPoint Financial LLC grew its position in Apple by 1.7% in the 2nd quarter. DecisionPoint Financial LLC now owns 10,815 shares of the iPhone maker’s stock worth $2,402,000 after purchasing an additional 180 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Apple Trading Up 0.6 %

Shares of NASDAQ AAPL opened at $223.45 on Wednesday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49. The company has a market cap of $3.40 trillion, a PE ratio of 36.75, a P/E/G ratio of 2.39 and a beta of 1.24. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The company has a 50-day moving average of $226.98 and a two-hundred day moving average of $213.44.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same period last year, the firm earned $1.46 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities analysts expect that Apple Inc. will post 7.45 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Analyst Ratings Changes

Several analysts have issued reports on AAPL shares. Cfra raised their price target on shares of Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Loop Capital decreased their price target on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Monday. UBS Group restated a “hold” rating and issued a $236.00 price target on shares of Apple in a research report on Wednesday, October 16th. Oppenheimer reaffirmed a “buy” rating and set a $250.00 price objective on shares of Apple in a report on Tuesday, October 1st. Finally, Melius Research reaffirmed a “buy” rating and set a $265.00 price objective on shares of Apple in a report on Tuesday, August 27th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $235.51.

Insider Buying and Selling

In related news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. 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. In related news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. 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, CFO Luca Maestri sold 59,305 shares of Apple 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 sale, 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. Insiders sold a total of 417,924 shares of company stock valued at $94,142,399 over the last three months. Company insiders own 0.06% of the company’s stock.

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.