Absher Wealth Management LLC Boosts Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Absher Wealth Management LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 113,796 shares of the iPhone maker’s stock after acquiring an additional 1,499 shares during the quarter. Apple accounts for about 3.4% of Absher Wealth Management LLC’s portfolio, making the stock its 15th largest position. Absher Wealth Management LLC’s holdings in Apple were worth $23,968,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Davis Capital Management grew its stake in shares of Apple by 1.4% during the first quarter. Davis Capital Management now owns 14,679 shares of the iPhone maker’s stock worth $2,496,000 after purchasing an additional 203 shares in the last quarter. Insight Wealth Strategies LLC grew its holdings in shares of Apple by 43.4% during the first quarter. Insight Wealth Strategies LLC now owns 60,185 shares of the iPhone maker’s stock worth $10,320,000 after purchasing an additional 18,224 shares during the last quarter. Somerset Trust Co grew its holdings in shares of Apple by 0.9% during the first quarter. Somerset Trust Co now owns 55,827 shares of the iPhone maker’s stock worth $9,573,000 after purchasing an additional 471 shares during the last quarter. Prism Advisors Inc. grew its holdings in shares of Apple by 12.7% during the first quarter. Prism Advisors Inc. now owns 6,143 shares of the iPhone maker’s stock worth $1,053,000 after purchasing an additional 693 shares during the last quarter. Finally, Hilltop Wealth Advisors LLC purchased a new position in shares of Apple during the first quarter worth about $686,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Stock Up 1.2 %

AAPL stock opened at $235.00 on Friday. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The company has a 50 day moving average price of $225.78 and a two-hundred day moving average price of $207.84. The stock has a market capitalization of $3.60 trillion, a P/E ratio of 36.55, a PEG ratio of 2.40 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) 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 company had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. During the same period in the previous year, the company earned $1.26 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts expect that Apple Inc. will post 6.65 EPS for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. Apple’s dividend payout ratio is presently 15.55%.

Analysts Set New Price Targets

Several equities analysts have issued reports on AAPL shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $261.00 price objective on shares of Apple in a report on Tuesday, September 10th. Sanford C. Bernstein raised their price objective on Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. Wedbush reissued an “outperform” rating and set a $285.00 price target on shares of Apple in a report on Monday, September 9th. Raymond James raised their price target on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Oppenheimer reissued a “buy” rating and set a $250.00 price target on shares of Apple in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $239.27.

Insider Activity

In related news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the transaction, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the transaction, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the transaction, the chief operating officer now owns 489,944 shares in the company, valued at $111,148,695.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 517,924 shares of company stock valued at $114,786,399 in the last ninety days. Company insiders own 0.06% of the company’s stock.

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.