Jeppson Wealth Management LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 11.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 111,097 shares of the iPhone maker’s stock after buying an additional 11,021 shares during the period. Apple accounts for 6.5% of Jeppson Wealth Management LLC’s holdings, making the stock its 3rd biggest position. Jeppson Wealth Management LLC’s holdings in Apple were worth $15,189,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Opus Capital Group LLC increased its position in shares of Apple by 0.3% during the first quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock valued at $3,332,000 after acquiring an additional 63 shares during the last quarter. Norwood Financial Corp boosted its stake in shares of Apple by 0.9% in the first quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock valued at $1,227,000 after purchasing an additional 65 shares during the period. Mokosak Advisory Group LLC boosted its stake in shares of Apple by 1.2% in the first quarter. Mokosak Advisory Group LLC now owns 5,702 shares of the iPhone maker’s stock valued at $996,000 after purchasing an additional 66 shares during the period. Harbor Capital Advisors Inc. boosted its stake in shares of Apple by 6.7% in the second quarter. Harbor Capital Advisors Inc. now owns 1,046 shares of the iPhone maker’s stock valued at $143,000 after purchasing an additional 66 shares during the period. Finally, Lake Point Wealth Management boosted its stake in shares of Apple by 1.7% in the second quarter. Lake Point Wealth Management now owns 4,025 shares of the iPhone maker’s stock valued at $550,000 after purchasing an additional 67 shares during the period. 57.72% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, SVP Deirdre O’brien sold 176,299 shares of the business’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $142.16, for a total value of $25,062,665.84. Following the sale, the senior vice president now directly owns 136,290 shares in the company, valued at approximately $19,374,986.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 360,651 shares of company stock worth $53,703,645 in the last three months. Corporate insiders own 0.06% of the company’s stock.
Apple Price Performance
Apple (NASDAQ:AAPL – Get Rating) last issued its earnings results on Thursday, October 27th. The iPhone maker reported $1.29 EPS for the quarter, topping the consensus estimate of $1.27 by $0.02. The company had revenue of $90.15 billion for the quarter, compared to analyst estimates of $88.77 billion. Apple had a net margin of 25.31% and a return on equity of 160.90%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.24 EPS. Analysts forecast that Apple Inc. will post 6.26 EPS for the current fiscal year.
Apple Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were given a $0.23 dividend. The ex-dividend date was Friday, November 4th. This represents a $0.92 annualized dividend and a dividend yield of 0.61%. Apple’s dividend payout ratio is presently 15.06%.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on the stock. DA Davidson lowered their price objective on shares of Apple from $185.00 to $167.00 and set a “buy” rating for the company in a research note on Friday, October 28th. KeyCorp reiterated a “buy” rating and issued a $175.00 price target on shares of Apple in a research note on Tuesday, November 8th. Monness Crespi & Hardt assumed coverage on shares of Apple in a research note on Thursday, September 8th. They issued a “buy” rating and a $174.00 price target for the company. JPMorgan Chase & Co. set a $200.00 price objective on shares of Apple in a report on Monday, November 14th. Finally, Wedbush cut their price objective on shares of Apple from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $176.26.
Apple Company Profile
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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