Iron Horse Wealth Management LLC reduced its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,559 shares of the iPhone maker’s stock after selling 87 shares during the quarter. Apple accounts for 0.3% of Iron Horse Wealth Management LLC’s portfolio, making the stock its 22nd largest position. Iron Horse Wealth Management LLC’s holdings in Apple were worth $487,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Mokosak Advisory Group LLC boosted its holdings in Apple by 1.2% in the 1st 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 holdings in Apple by 6.7% in the 2nd 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. Lake Point Wealth Management boosted its holdings in Apple by 1.7% in the 2nd 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. Cardinal Point Wealth Management Partners LLC boosted its holdings in Apple by 0.4% in the 2nd quarter. Cardinal Point Wealth Management Partners LLC now owns 16,455 shares of the iPhone maker’s stock valued at $2,250,000 after purchasing an additional 68 shares during the period. Finally, Silver Lake Advisory LLC boosted its holdings in Apple by 1.4% in the 2nd quarter. Silver Lake Advisory LLC now owns 4,875 shares of the iPhone maker’s stock valued at $667,000 after purchasing an additional 69 shares during the period. 57.72% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research firms have issued reports on AAPL. Monness Crespi & Hardt began coverage on shares of Apple in a report on Thursday, September 8th. They issued a “buy” rating and a $174.00 price objective for the company. Barclays cut their price target on shares of Apple from $156.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, November 7th. Fundamental Research upped their price target on shares of Apple to $168.50 and gave the stock a “buy” rating in a report on Tuesday, November 8th. Credit Suisse Group set a $184.00 price target on shares of Apple in a report on Thursday. Finally, Robert W. Baird cut their price target on shares of Apple from $185.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, October 28th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $176.26.
Insider Buying and Selling
Apple Trading Up 0.6 %
AAPL opened at $151.07 on Friday. Apple Inc. has a twelve month low of $129.04 and a twelve month high of $182.94. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.95. The company has a fifty day moving average of $146.62 and a 200-day moving average of $149.67. The stock has a market cap of $2.40 trillion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25.
Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.02. Apple had a net margin of 25.31% and a return on equity of 160.90%. The company had revenue of $90.15 billion during the quarter, compared to analysts’ expectations of $88.77 billion. During the same period in the prior year, the company posted $1.24 earnings per share. Apple’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, sell-side analysts predict that Apple Inc. will post 6.26 EPS for the current year.
Apple Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Monday, November 7th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend was Friday, November 4th. Apple’s dividend payout ratio (DPR) is presently 15.06%.
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; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
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