Naviter Wealth LLC Purchases 12,955 Shares of Apple Inc. (NASDAQ:AAPL)

Naviter Wealth LLC boosted its position in Apple Inc. (NASDAQ:AAPL) by 14.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 104,043 shares of the iPhone maker’s stock after acquiring an additional 12,955 shares during the period. Apple makes up about 3.3% of Naviter Wealth LLC’s portfolio, making the stock its 4th largest position. Naviter Wealth LLC’s holdings in Apple were worth $21,914,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of AAPL. Bellwether Advisors LLC boosted its stake in shares of Apple by 387.3% during the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock worth $5,128,000 after acquiring an additional 19,352 shares during the period. WT Asset Management Ltd acquired a new stake in Apple during the 2nd quarter valued at $80,057,000. Councilmark Asset Management LLC bought a new position in Apple during the first quarter worth $11,776,000. Hummer Financial Advisory Services Inc increased its holdings in shares of Apple by 2.2% in the first quarter. Hummer Financial Advisory Services Inc now owns 5,488 shares of the iPhone maker’s stock valued at $941,000 after purchasing an additional 120 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its position in shares of Apple by 1.1% in the first quarter. Bleakley Financial Group LLC now owns 617,582 shares of the iPhone maker’s stock valued at $105,903,000 after purchasing an additional 6,567 shares during the period. Institutional investors own 60.41% of the company’s stock.

Insider Activity

In related news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $24,416,137.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Chris Kondo sold 5,178 shares of the stock in a transaction on 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 $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. Over the last three months, insiders have sold 517,924 shares of company stock valued at $114,786,399. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. The Goldman Sachs Group lifted their target price on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Apple in a research report on Wednesday, October 9th. Oppenheimer reissued a “buy” rating and set a $250.00 price target on shares of Apple in a report on Tuesday, October 1st. Barclays restated an “underweight” rating and issued a $186.00 price target on shares of Apple in a research note on Tuesday, October 1st. Finally, Monness Crespi & Hardt reiterated a “buy” rating and set a $245.00 price objective on shares of Apple in a research report on Monday, September 9th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus target price of $239.27.

Apple Trading Up 0.2 %

Shares of Apple stock opened at $232.15 on Friday. The firm has a market capitalization of $3.56 trillion, a PE ratio of 36.10, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. 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 firm’s 50 day moving average is $225.41 and its 200 day moving average is $207.39. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. During the same quarter in the previous year, the firm posted $1.26 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. Equities research analysts forecast that Apple Inc. will post 6.65 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a $0.25 dividend. 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 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.