Apple Inc. (NASDAQ:AAPL) Stock Holdings Boosted by ACT Wealth Management LLC

ACT Wealth Management LLC raised its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 10.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,105 shares of the iPhone maker’s stock after purchasing an additional 3,528 shares during the period. Apple accounts for about 3.4% of ACT Wealth Management LLC’s holdings, making the stock its 8th biggest position. ACT Wealth Management LLC’s holdings in Apple were worth $5,210,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Apple by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after acquiring an additional 8,734,393 shares during the last quarter. State Street Corp grew its position in Apple by 1.8% in the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock valued at $112,422,274,000 after buying an additional 10,951,705 shares during the last quarter. Geode Capital Management LLC grew its position in Apple by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock valued at $46,812,958,000 after buying an additional 4,456,954 shares during the last quarter. Norges Bank purchased a new position in Apple in the 4th quarter valued at $25,228,507,000. Finally, Charles Schwab Investment Management Inc. grew its position in Apple by 1.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock valued at $14,097,970,000 after buying an additional 1,155,915 shares during the last quarter. 57.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on AAPL. Morgan Stanley lowered their price objective on shares of Apple from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. Monness Crespi & Hardt began coverage on shares of Apple in a research report on Thursday, September 8th. They issued a “buy” rating and a $174.00 price objective on the stock. Sanford C. Bernstein set a $170.00 price objective on shares of Apple in a research report on Monday, September 12th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $139.00 price objective on shares of Apple in a research report on Thursday, September 8th. Finally, Wedbush lifted their price objective on shares of Apple from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, August 17th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.52.

Insider Buying and Selling at Apple

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

Apple Trading Up 2.5 %

Shares of AAPL stock opened at $154.48 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $2.48 trillion, a price-to-earnings ratio of 25.49, a PEG ratio of 1.95 and a beta of 1.23. The firm has a 50-day moving average price of $159.65 and a 200 day moving average price of $155.94. Apple Inc. has a twelve month low of $129.04 and a twelve month high of $182.94.

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

Apple Dividend Announcement

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

About Apple

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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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