30,420 Shares in Apple Inc. (NASDAQ:AAPL) Purchased by NRI Wealth Management LC

NRI Wealth Management LC bought a new stake in shares of Apple Inc. (NASDAQ:AAPL) in the second quarter, Holdings Channel reports. The fund bought 30,420 shares of the iPhone maker’s stock, valued at approximately $6,407,000. Apple comprises 5.0% of NRI Wealth Management LC’s portfolio, making the stock its 6th biggest holding.

A number of other hedge funds also recently modified their holdings of AAPL. Bright Rock Capital Management LLC lifted its holdings in Apple by 24.0% during the 1st quarter. Bright Rock Capital Management LLC now owns 62,000 shares of the iPhone maker’s stock worth $10,632,000 after purchasing an additional 12,000 shares in the last quarter. Roble Belko & Company Inc lifted its holdings in shares of Apple by 10.4% in the first quarter. Roble Belko & Company Inc now owns 3,770 shares of the iPhone maker’s stock worth $646,000 after buying an additional 354 shares in the last quarter. Bridge Creek Capital Management LLC boosted its position in shares of Apple by 2.0% in the first quarter. Bridge Creek Capital Management LLC now owns 64,278 shares of the iPhone maker’s stock valued at $11,022,000 after acquiring an additional 1,278 shares during the period. GenWealth Group Inc. lifted its stake in Apple by 1.1% in the 1st quarter. GenWealth Group Inc. now owns 10,667 shares of the iPhone maker’s stock worth $1,829,000 after purchasing an additional 120 shares in the last quarter. Finally, Birch Capital Management LLC grew its position in Apple by 0.6% during the first quarter. Birch Capital Management LLC now owns 72,025 shares of the iPhone maker’s stock worth $12,351,000 after buying an additional 462 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Insider Activity at Apple

In related news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 517,924 shares of company stock worth $114,786,399. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

AAPL has been the subject of a number of research reports. UBS Group reissued a “hold” rating and issued a $236.00 price target on shares of Apple in a research note on Wednesday, October 16th. Monness Crespi & Hardt reissued a “buy” rating and issued a $245.00 price target on shares of Apple in a research note on Monday, September 9th. Piper Sandler Companies reaffirmed a “neutral” rating and set a $225.00 price objective (up from $190.00) on shares of Apple in a research note on Tuesday, July 9th. TD Cowen boosted their target price on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Apple in a research report on Thursday, September 19th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $235.91.

Apple Trading Up 0.4 %

Shares of NASDAQ AAPL opened at $231.41 on Friday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. The company has a market cap of $3.55 trillion, a PE ratio of 35.99, a P/E/G ratio of 2.40 and a beta of 1.24. The firm’s 50 day moving average price is $226.75 and its 200-day moving average price is $209.62. 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 earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 26.44% and a return on equity of 147.15%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.26 EPS. On average, equities research analysts expect that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Announces Dividend

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

About Apple

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.