Angeles Wealth Management LLC Acquires 12,741 Shares of Apple Inc. (NASDAQ:AAPL)

Angeles Wealth Management LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 11.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 119,751 shares of the iPhone maker’s stock after acquiring an additional 12,741 shares during the quarter. Apple comprises about 2.4% of Angeles Wealth Management LLC’s investment portfolio, making the stock its 11th biggest position. Angeles Wealth Management LLC’s holdings in Apple were worth $25,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Capital International Investors boosted its position in shares of Apple by 7.1% during the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock valued at $6,369,852,000 after buying an additional 2,474,887 shares during the period. Jennison Associates LLC raised its holdings in shares of Apple by 1.7% in the first quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock worth $5,061,296,000 after buying an additional 485,873 shares during the period. Swedbank AB lifted its stake in shares of Apple by 13.4% during the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after acquiring an additional 2,359,409 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Apple by 16.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,993,042 shares of the iPhone maker’s stock valued at $3,085,427,000 after acquiring an additional 2,594,138 shares during the period. Finally, Nordea Investment Management AB grew its position in Apple by 2.5% in the 1st quarter. Nordea Investment Management AB now owns 17,247,950 shares of the iPhone maker’s stock valued at $2,951,297,000 after acquiring an additional 415,186 shares during the last quarter. 60.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several research analyst reports. Oppenheimer reiterated a “buy” rating and set a $250.00 target price on shares of Apple in a research report on Tuesday, October 1st. Piper Sandler reiterated a “neutral” rating and set a $225.00 price objective on shares of Apple in a report on Wednesday, October 9th. UBS Group restated a “hold” rating and issued a $236.00 target price on shares of Apple in a research note on Wednesday, October 16th. Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and raised their target price for the stock from $205.00 to $212.92 in a research report on Monday, October 7th. Finally, Barclays reiterated an “underweight” rating and issued a $186.00 price target on shares of Apple in a report on Tuesday, October 1st. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $235.91.

Apple Stock Performance

AAPL opened at $233.40 on Tuesday. The company has a market cap of $3.58 trillion, a P/E ratio of 36.30, a price-to-earnings-growth ratio of 2.40 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 firm’s 50-day moving average price is $227.01 and its 200-day moving average price is $211.05. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The business had revenue of $85.78 billion for 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%. Apple’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.26 EPS. As a group, equities analysts anticipate that Apple Inc. will post 6.65 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 paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. Apple’s dividend payout ratio (DPR) is 15.55%.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 5,178 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Jeffrey E. Williams sold 59,730 shares of the business’s 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 completion of the transaction, the chief operating officer now directly owns 489,944 shares in the company, valued at $111,148,695.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Chris Kondo sold 5,178 shares of the company’s 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 completion of the sale, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 517,924 shares of company stock valued at $114,786,399. 0.06% of the stock is owned by company insiders.

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.