Summit Wealth Partners LLC Has $4.67 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Summit Wealth Partners LLC raised its holdings in Apple Inc. (NASDAQ:AAPL) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,033 shares of the iPhone maker’s stock after buying an additional 130 shares during the quarter. Apple accounts for 0.9% of Summit Wealth Partners LLC’s investment portfolio, making the stock its 25th largest holding. Summit Wealth Partners LLC’s holdings in Apple were worth $4,668,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lantz Financial LLC increased its stake in Apple by 8.6% in the second quarter. Lantz Financial LLC now owns 29,751 shares of the iPhone maker’s stock valued at $6,266,000 after purchasing an additional 2,361 shares in the last quarter. LPF Advisors LLC grew its stake in shares of Apple by 4.5% in the 2nd quarter. LPF Advisors LLC now owns 2,355 shares of the iPhone maker’s stock valued at $496,000 after buying an additional 102 shares during the period. Keystone Wealth Services LLC increased its position in Apple by 1.5% in the 2nd quarter. Keystone Wealth Services LLC now owns 71,138 shares of the iPhone maker’s stock valued at $14,983,000 after buying an additional 1,039 shares in the last quarter. Retirement Planning Group LLC raised its stake in Apple by 11.9% during the 2nd quarter. Retirement Planning Group LLC now owns 102,149 shares of the iPhone maker’s stock worth $21,515,000 after buying an additional 10,874 shares during the period. Finally, Hurlow Wealth Management Group Inc. boosted its holdings in Apple by 1.6% in the second quarter. Hurlow Wealth Management Group Inc. now owns 19,618 shares of the iPhone maker’s stock worth $4,132,000 after acquiring an additional 300 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on AAPL. Rosenblatt Securities boosted their price objective on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a report on Friday, November 1st. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Loop Capital lowered their price objective on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price objective on shares of Apple in a report on Tuesday, December 10th. Finally, Maxim Group upped their target price on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $237.47.

Insider Transactions at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, 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 disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Down 2.6 %

Shares of AAPL opened at $243.85 on Friday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The business has a 50-day moving average of $238.41 and a 200 day moving average of $228.58. The firm has a market cap of $3.69 trillion, a P/E ratio of 40.11, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

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

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. Apple’s dividend payout ratio is currently 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.