Proathlete Wealth Management LLC Has $886,000 Position in Apple Inc. (NASDAQ:AAPL)

Proathlete Wealth Management LLC raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,801 shares of the iPhone maker’s stock after purchasing an additional 84 shares during the quarter. Proathlete Wealth Management LLC’s holdings in Apple were worth $886,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. grew its position in shares of 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 purchasing an additional 42,282 shares during the period. Arjuna Capital grew its position in shares of Apple by 2.5% in the 1st quarter. Arjuna Capital now owns 137,393 shares of the iPhone maker’s stock valued at $23,560,000 after purchasing an additional 3,321 shares during the period. Lake Street Advisors Group LLC grew its position in shares of Apple by 54.6% in the 1st quarter. Lake Street Advisors Group LLC now owns 209,343 shares of the iPhone maker’s stock valued at $35,898,000 after purchasing an additional 73,909 shares during the period. Vaughan David Investments LLC IL grew its position in shares of Apple by 7.9% in the 1st quarter. Vaughan David Investments LLC IL now owns 37,490 shares of the iPhone maker’s stock valued at $6,429,000 after purchasing an additional 2,746 shares during the period. Finally, Oxford Financial Group LTD. LLC grew its position in shares of Apple by 0.5% in the 1st quarter. Oxford Financial Group LTD. LLC now owns 134,403 shares of the iPhone maker’s stock valued at $23,047,000 after purchasing an additional 696 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on AAPL. Monness Crespi & Hardt restated a “buy” rating and issued a $245.00 target price on shares of Apple in a research note on Monday, September 9th. Tigress Financial boosted their target price on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 28th. UBS Group restated a “neutral” rating and issued a $236.00 target price on shares of Apple in a research note on Monday, December 2nd. New Street Research restated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research note on Wednesday, September 25th. Finally, Loop Capital cut their target price on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $236.78.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 4,130 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock valued at $92,007,745 in the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Up 0.1 %

AAPL opened at $248.13 on Friday. 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 stock’s fifty day simple moving average is $232.50 and its 200 day simple moving average is $223.41. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $250.80. The stock has a market cap of $3.75 trillion, a PE ratio of 40.81, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23.

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

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is 16.45%.

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.