Orion Portfolio Solutions LLC Has $36.30 Million Stake in Apple Inc. (NASDAQ:AAPL)

Orion Portfolio Solutions LLC increased its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 1.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 207,897 shares of the iPhone maker’s stock after buying an additional 1,992 shares during the quarter. Apple comprises approximately 1.3% of Orion Portfolio Solutions LLC’s holdings, making the stock its 10th largest holding. Orion Portfolio Solutions LLC’s holdings in Apple were worth $36,301,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Elk River Wealth Management LLC lifted its position in Apple by 49.0% in the first quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock worth $29,181,000 after buying an additional 54,989 shares during the last quarter. Piscataqua Savings Bank lifted its position in shares of Apple by 1.5% during the first quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock worth $8,302,000 after purchasing an additional 684 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Apple during the first quarter worth $171,000. Chico Wealth RIA bought a new stake in shares of Apple during the first quarter worth $7,794,000. Finally, Red Door Wealth Management LLC lifted its position in shares of Apple by 3.3% during the first quarter. Red Door Wealth Management LLC now owns 96,983 shares of the iPhone maker’s stock worth $16,934,000 after purchasing an additional 3,087 shares during the last quarter. 57.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the completion of the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the transaction, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total value of $16,923,788.25. Following the completion of the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Itau BBA Securities assumed coverage on Apple in a report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price objective for the company. The Goldman Sachs Group restated a “neutral” rating and issued a $139.00 price objective on shares of Apple in a report on Thursday, September 8th. Morgan Stanley decreased their price objective on Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. UBS Group set a $185.00 price objective on Apple in a report on Thursday, September 8th. Finally, KeyCorp lifted their price objective on Apple from $177.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, August 19th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $181.52.

Apple Trading Down 5.9 %

Apple stock opened at $153.84 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94. The company has a market capitalization of $2.47 trillion, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 2.03 and a beta of 1.23. The stock has a 50-day moving average price of $159.21 and a 200 day moving average price of $156.27.

Apple (NASDAQ:AAPLGet Rating) last released its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm had revenue of $82.96 billion during the quarter, compared to the consensus estimate of $82.97 billion. During the same quarter in the previous year, the company posted $1.30 earnings per share. The company’s revenue was up 1.9% compared to the same quarter last year. Sell-side analysts anticipate that Apple Inc. will post 6.11 EPS for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s dividend payout ratio (DPR) is 15.18%.

Apple Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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