Mills Wealth Advisors LLC Acquires New Position in Apple Inc. (NASDAQ:AAPL)

Mills Wealth Advisors LLC acquired a new stake in shares of Apple Inc. (NASDAQ:AAPL) in the second quarter, HoldingsChannel reports. The institutional investor acquired 1,059 shares of the iPhone maker’s stock, valued at approximately $223,000.

A number of other hedge funds also recently made changes to their positions in AAPL. Access Investment Management LLC purchased a new position in Apple in the 1st quarter worth approximately $140,000. Hoese & Co LLP lifted its holdings in Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares in the last quarter. Sage Financial Group Inc. purchased a new position in Apple in the 2nd quarter worth approximately $206,000. Benchmark Wealth Management LLC purchased a new position in Apple in the 2nd quarter worth approximately $208,000. Finally, Sequent Asset Management LLC purchased a new position in Apple in the 2nd quarter worth approximately $214,000. 60.41% of the stock is currently owned by institutional investors.

Apple Price Performance

AAPL opened at $222.91 on Friday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. 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 business’s fifty day simple moving average is $227.18 and its 200-day simple moving average is $212.03. The company has a market capitalization of $3.39 trillion, a price-to-earnings ratio of 33.93, a PEG ratio of 2.45 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.15. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter in the prior year, the company earned $1.46 EPS. The business’s revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts anticipate that Apple Inc. will post 6.6 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Monday, November 11th. Apple’s payout ratio is currently 15.22%.

Insider Activity at Apple

In related news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $5,223,062.50. This trade 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 available through this link. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the 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 sale, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Chris Kondo sold 5,178 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 517,924 shares of company stock valued at $114,786,399 over the last quarter. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. UBS Group reissued a “hold” rating and issued a $236.00 price target on shares of Apple in a report on Wednesday, October 16th. StockNews.com cut Apple from a “buy” rating to a “hold” rating in a report on Friday. Cfra upped their price objective on Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Tigress Financial upped their price objective on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. Finally, Melius Research reaffirmed a “buy” rating and set a $265.00 price objective on shares of Apple in a report on Tuesday, August 27th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $236.23.

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.