Summit Wealth Partners LLC Boosts Holdings in Apple Inc. (NASDAQ:AAPL)

Summit Wealth Partners LLC increased its position in Apple Inc. (NASDAQ:AAPL) by 4.8% during the second quarter, HoldingsChannel.com reports. The firm owned 19,903 shares of the iPhone maker’s stock after acquiring an additional 920 shares during the quarter. Summit Wealth Partners LLC’s holdings in Apple were worth $4,192,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. lifted its position in Apple by 127.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock valued at $12,943,000 after acquiring an additional 42,282 shares in the last quarter. Onyx Bridge Wealth Group LLC increased its holdings in shares of Apple by 0.9% in the 1st quarter. Onyx Bridge Wealth Group LLC now owns 92,150 shares of the iPhone maker’s stock worth $15,601,000 after purchasing an additional 781 shares in the last quarter. Paragon Advisors LLC raised its stake in shares of Apple by 35.8% in the first quarter. Paragon Advisors LLC now owns 18,183 shares of the iPhone maker’s stock worth $3,118,000 after purchasing an additional 4,793 shares during the last quarter. Castle Wealth Management LLC boosted its position in shares of Apple by 0.8% during the first quarter. Castle Wealth Management LLC now owns 23,998 shares of the iPhone maker’s stock valued at $4,115,000 after buying an additional 191 shares during the last quarter. Finally, Silicon Valley Capital Partners increased its holdings in Apple by 28.9% in the 1st quarter. Silicon Valley Capital Partners now owns 229,441 shares of the iPhone maker’s stock worth $39,345,000 after buying an additional 51,428 shares in the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several research analyst reports. Morgan Stanley restated an “overweight” rating and set a $273.00 target price on shares of Apple in a research note on Tuesday, September 10th. Melius Research reaffirmed a “buy” rating and issued a $265.00 target price on shares of Apple in a research report on Tuesday, August 27th. Needham & Company LLC reissued a “buy” rating and set a $260.00 price target on shares of Apple in a report on Friday, November 1st. Moffett Nathanson started coverage on Apple in a report on Monday, August 19th. They issued a “neutral” rating and a $211.00 price objective for the company. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $265.00 target price on shares of Apple in a report on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $235.51.

Apple Stock Down 1.4 %

AAPL opened at $225.00 on Monday. The company has a market capitalization of $3.40 trillion, a PE ratio of 37.01, a price-to-earnings-growth ratio of 2.20 and a beta of 1.24. The firm has a 50-day simple moving average of $227.04 and a two-hundred day simple moving average of $216.61. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter last year, the business posted $1.46 EPS. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. Analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is presently 16.45%.

Insider Activity at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 6.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Luca Maestri sold 59,305 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction 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. The trade was a 35.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 404,040 shares of company stock valued at $91,062,512 over the last 90 days. 0.06% of the stock is owned by corporate insiders.

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.