Apple Inc. (NASDAQ:AAPL) Stock Position Raised by Inlet Private Wealth LLC

Inlet Private Wealth LLC boosted its stake in Apple Inc. (NASDAQ:AAPL) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,853 shares of the iPhone maker’s stock after purchasing an additional 144 shares during the quarter. Apple comprises approximately 5.2% of Inlet Private Wealth LLC’s portfolio, making the stock its biggest holding. Inlet Private Wealth LLC’s holdings in Apple were worth $18,925,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Moss Adams Wealth Advisors LLC grew its position in Apple by 1.3% during the second quarter. Moss Adams Wealth Advisors LLC now owns 67,476 shares of the iPhone maker’s stock valued at $14,212,000 after acquiring an additional 869 shares during the last quarter. American National Bank grew its position in Apple by 2.2% during the second quarter. American National Bank now owns 196,470 shares of the iPhone maker’s stock valued at $41,381,000 after acquiring an additional 4,225 shares during the last quarter. Madison Park Capital Advisors LLC grew its position in Apple by 1.1% during the second quarter. Madison Park Capital Advisors LLC now owns 13,017 shares of the iPhone maker’s stock valued at $2,742,000 after acquiring an additional 143 shares during the last quarter. NewSquare Capital LLC grew its position in Apple by 4.9% during the second quarter. NewSquare Capital LLC now owns 37,155 shares of the iPhone maker’s stock valued at $7,825,000 after acquiring an additional 1,751 shares during the last quarter. Finally, Horst & Graben Wealth Management LLC grew its position in Apple by 8.2% during the second quarter. Horst & Graben Wealth Management LLC now owns 44,460 shares of the iPhone maker’s stock valued at $9,364,000 after acquiring an additional 3,365 shares during the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Performance

Shares of Apple stock opened at $227.37 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $3.49 trillion, a P/E ratio of 35.36, a P/E/G ratio of 2.62 and a beta of 1.24. The business has a fifty day simple moving average of $222.10 and a two-hundred day simple moving average of $201.22. 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 EPS for the quarter, beating the consensus estimate of $1.34 by $0.06. The business had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.26 earnings per share. On average, equities analysts forecast that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio is currently 15.55%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Oppenheimer reiterated an “outperform” rating and set a $250.00 price target on shares of Apple in a research report on Tuesday, September 10th. Rosenblatt Securities reiterated a “buy” rating and set a $261.00 price target on shares of Apple in a research report on Tuesday, September 10th. KeyCorp reiterated a “hold” rating and set a $247.61 price target on shares of Apple in a research report on Wednesday, August 28th. Citigroup reiterated a “buy” rating and set a $255.00 price target on shares of Apple in a research report on Tuesday, August 27th. Finally, Monness Crespi & Hardt restated a “buy” rating and issued a $245.00 target price on shares of Apple in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $239.17.

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Apple news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,884 shares of company stock valued at $23,723,887. 0.06% of the stock is currently owned by company 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.