Alta Wealth Advisors LLC raised its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,086 shares of the iPhone maker’s stock after purchasing an additional 493 shares during the period. Apple comprises 1.4% of Alta Wealth Advisors LLC’s portfolio, making the stock its 12th biggest position. Alta Wealth Advisors LLC’s holdings in Apple were worth $1,993,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. University of Texas Texas AM Investment Managment Co. bought a new stake in Apple during the 2nd quarter valued at $27,000. Milestone Resources Group Ltd raised its position in Apple by 57.7% during the 2nd quarter. Milestone Resources Group Ltd now owns 216 shares of the iPhone maker’s stock valued at $30,000 after purchasing an additional 79 shares in the last quarter. Navigation Wealth Management Inc. raised its position in shares of Apple by 21.3% in the 3rd quarter. Navigation Wealth Management Inc. now owns 478 shares of the iPhone maker’s stock worth $68,000 after acquiring an additional 84 shares in the last quarter. Kessler Investment Group LLC raised its position in shares of Apple by 585.7% in the 2nd quarter. Kessler Investment Group LLC now owns 576 shares of the iPhone maker’s stock worth $79,000 after acquiring an additional 492 shares in the last quarter. Finally, Cordant Inc. raised its position in shares of Apple by 60.0% in the 2nd quarter. Cordant Inc. now owns 805 shares of the iPhone maker’s stock worth $110,000 after acquiring an additional 302 shares in the last quarter. 56.40% of the stock is owned by institutional investors and hedge funds.
In other Apple news, COO Jeffrey E. Williams sold 165,829 shares of the stock in a transaction that occurred on Monday, October 4th. The stock was sold at an average price of $138.83, for a total transaction of $23,022,040.07. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Chris Kondo sold 9,005 shares of the stock in a transaction that occurred on Friday, November 12th. The stock was sold at an average price of $150.00, for a total value of $1,350,750.00. The disclosure for this sale can be found here. Insiders sold 473,347 shares of company stock worth $67,822,283 in the last 90 days. Company insiders own 0.06% of the company’s stock.
Apple (NASDAQ:AAPL) last issued its earnings results on Wednesday, October 27th. The iPhone maker reported $1.24 EPS for the quarter, hitting analysts’ consensus estimates of $1.24. Apple had a return on equity of 144.13% and a net margin of 25.88%. The firm had revenue of $83.40 billion for the quarter, compared to the consensus estimate of $84.94 billion. During the same quarter in the prior year, the business earned $0.73 earnings per share. The company’s revenue was up 28.9% compared to the same quarter last year. As a group, equities analysts anticipate that Apple Inc. will post 5.77 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 11th. Stockholders of record on Monday, November 8th were paid a $0.22 dividend. The ex-dividend date was Friday, November 5th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.54%. Apple’s payout ratio is 15.66%.
Several research firms have recently commented on AAPL. Barclays boosted their price target on Apple from $142.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Friday, October 29th. Oppenheimer boosted their price target on Apple from $165.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, October 29th. Deutsche Bank Aktiengesellschaft boosted their price target on Apple from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Zacks Investment Research lowered Apple from a “buy” rating to a “hold” rating and set a $171.00 price target for the company. in a research report on Monday, November 1st. Finally, Bank of America set a $160.00 target price on Apple and gave the company a “neutral” rating in a research report on Wednesday, October 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Apple presently has a consensus rating of “Buy” and an average target price of $165.56.
Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.
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