Thrive Wealth Management LLC Grows Stock Position in Apple Inc. (NASDAQ:AAPL)

Thrive Wealth Management LLC grew its stake in shares of Apple Inc. (NASDAQ:AAPL) by 13.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,541 shares of the iPhone maker’s stock after purchasing an additional 5,872 shares during the period. Apple makes up 2.0% of Thrive Wealth Management LLC’s investment portfolio, making the stock its 7th biggest holding. Thrive Wealth Management LLC’s holdings in Apple were worth $10,434,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the business. Yeomans Consulting Group Inc. purchased a new position in Apple in the 4th quarter valued at approximately $1,713,000. Raleigh Capital Management Inc. raised its stake in Apple by 11.8% in the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock valued at $2,986,000 after purchasing an additional 1,643 shares in the last quarter. GLOBALT Investments LLC GA bought a new position in Apple in the fourth quarter valued at $38,406,000. Barden Capital Management Inc. boosted its stake in Apple by 132.8% in the fourth quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock worth $6,283,000 after buying an additional 18,615 shares in the last quarter. Finally, Sunpointe LLC purchased a new stake in Apple during the fourth quarter valued at about $4,782,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Tigress Financial upped their target price on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 28th. UBS Group reissued a “neutral” rating and set a $190.00 price target on shares of Apple in a research report on Monday, July 1st. Erste Group Bank upgraded shares of Apple from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Bank of America reissued a “buy” rating and set a $256.00 price target on shares of Apple in a report on Tuesday, August 27th. Finally, Moffett Nathanson assumed coverage on shares of Apple in a research note on Monday, August 19th. They set a “neutral” rating and a $211.00 target price for the company. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $237.30.

Apple Stock Down 2.7 %

Shares of AAPL opened at $222.77 on Wednesday. The stock has a market cap of $3.42 trillion, a price-to-earnings ratio of 34.65, a P/E/G ratio of 2.69 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The company has a 50-day moving average price of $222.57 and a two-hundred day moving average price of $196.53. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. During the same period in the prior year, the business posted $1.26 earnings per share. Apple’s revenue was up 4.9% compared to the same quarter last year. Equities analysts predict that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio is presently 15.55%.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 5,178 shares of the stock in a transaction that occurred 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 sale, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,884 shares of company stock worth $23,723,887. 0.06% of the stock is owned by insiders.

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.