Opal Wealth Advisors LLC Raises Stake in Apple Inc. (NASDAQ:AAPL)

Opal Wealth Advisors LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 81.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 58,048 shares of the iPhone maker’s stock after acquiring an additional 26,121 shares during the quarter. Apple comprises 4.2% of Opal Wealth Advisors LLC’s investment portfolio, making the stock its 5th biggest position. Opal Wealth Advisors LLC’s holdings in Apple were worth $13,525,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hershey Financial Advisers LLC acquired a new stake in shares of Apple during the second quarter worth $42,000. Christopher J. Hasenberg Inc increased its position in Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares during the period. Hoese & Co LLP raised its stake in Apple by 6.7% in the 2nd 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. Sage Financial Group Inc. bought a new stake in Apple in the 2nd quarter valued at about $206,000. Finally, Benchmark Wealth Management LLC acquired a new position in shares of Apple during the 2nd quarter worth approximately $208,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Buying and Selling

In related news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction that occurred 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 owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the transaction, the senior vice president now directly owns 187,043 shares in the company, valued at approximately $42,309,126.60. This trade represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock valued at $92,007,745 over the last quarter. Insiders own 0.06% of the company’s stock.

Apple Stock Down 0.1 %

Shares of AAPL opened at $242.84 on Friday. The stock’s 50-day moving average price is $230.23 and its two-hundred day moving average price is $221.05. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $244.63. The company has a market capitalization of $3.67 trillion, a PE ratio of 39.94, a PEG ratio of 2.38 and a beta of 1.23. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.46 earnings per share. On average, analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AAPL. New Street Research reiterated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research report on Wednesday, September 25th. Monness Crespi & Hardt reiterated a “buy” rating and set a $245.00 target price on shares of Apple in a research report on Monday, September 9th. Evercore ISI restated a “buy” rating and issued a $250.00 price target on shares of Apple in a research report on Thursday, September 26th. Loop Capital cut their price objective on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $273.00 price objective on shares of Apple in a research note on Monday, November 25th. Two investment 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 issued a strong buy rating to the company. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $235.68.

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.