New Wave Wealth Advisors LLC Acquires Shares of 23,334 Apple Inc. (NASDAQ:AAPL)

New Wave Wealth Advisors LLC bought a new position in shares of Apple Inc. (NASDAQ:AAPL) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 23,334 shares of the iPhone maker’s stock, valued at approximately $4,915,000. Apple comprises about 2.6% of New Wave Wealth Advisors LLC’s investment portfolio, making the stock its 7th largest holding.

Other large investors have also made changes to their positions in the company. Fidelis Capital Partners LLC grew its holdings in Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after buying an additional 31,278 shares in the last quarter. Hershey Financial Advisers LLC acquired a new position in shares of Apple during the 2nd quarter valued at about $42,000. Access Investment Management LLC purchased a new stake in shares of Apple in the first quarter valued at about $140,000. Hoese & Co LLP increased its position in Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the last quarter. Finally, Sage Financial Group Inc. purchased a new position in Apple during the second quarter worth about $206,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Trading Down 1.4 %

Shares of NASDAQ:AAPL opened at $225.00 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. 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 $3.40 trillion, a PE ratio of 37.01, a P/E/G ratio of 2.21 and a beta of 1.24. The company’s 50 day moving average is $227.04 and its two-hundred day moving average is $215.96.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.46 earnings per share. Equities analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AAPL shares. Loop Capital cut their price target on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, November 4th. Citigroup raised their target price on Apple to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $273.00 price target on shares of Apple in a research note on Tuesday, September 10th. Needham & Company LLC reissued a “buy” rating and set a $260.00 price objective on shares of Apple in a research report on Friday, November 1st. Finally, Oppenheimer restated a “buy” rating and issued a $250.00 price objective on shares of Apple in a report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $235.51.

Insiders Place Their Bets

In other news, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $111,148,695.84. This trade represents a 10.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of Apple 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 sale, 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 6.39 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 404,040 shares of company stock worth $91,062,512. 0.06% of the stock is owned by insiders.

Apple 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.