Apple Inc. (NASDAQ:AAPL) Shares Acquired by Straight Path Wealth Management

Straight Path Wealth Management boosted its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 18.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,770 shares of the iPhone maker’s stock after purchasing an additional 270 shares during the quarter. Straight Path Wealth Management’s holdings in Apple were worth $245,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ramsey Quantitative Systems acquired a new position in Apple in the second quarter valued at approximately $55,000. Morgan Dempsey Capital Management LLC acquired a new position in Apple in the third quarter valued at $55,000. HBC Financial Services PLLC boosted its stake in Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after acquiring an additional 80 shares in the last quarter. Newfound Research LLC acquired a new position in Apple in the third quarter valued at $67,000. Finally, Emerson Wealth LLC boosted its stake in Apple by 27.0% in the second quarter. Emerson Wealth LLC now owns 518 shares of the iPhone maker’s stock valued at $71,000 after acquiring an additional 110 shares in the last quarter. 57.60% of the stock is owned by institutional investors and hedge funds.

Apple Trading Up 1.0 %

Shares of AAPL stock opened at $134.76 on Tuesday. The business’s fifty day moving average price is $139.25 and its 200 day moving average price is $148.30. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $179.61. The firm has a market capitalization of $2.14 trillion, a PE ratio of 22.06, a P/E/G ratio of 1.74 and a beta of 1.24. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85.

Apple (NASDAQ:AAPL – Get Rating) last posted its earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.03. Apple had a return on equity of 160.90% and a net margin of 25.31%. The company had revenue of $90.15 billion for the quarter, compared to analyst estimates of $88.77 billion. During the same quarter in the prior year, the company earned $1.24 earnings per share. Apple’s revenue was up 7.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Apple Inc. will post 6.19 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.68%. The ex-dividend date was Friday, November 4th. Apple’s dividend payout ratio (DPR) is presently 15.06%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. set a $190.00 price objective on shares of Apple in a research note on Monday, January 2nd. Wedbush cut their target price on shares of Apple from $200.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, January 4th. UBS Group set a $180.00 price target on shares of Apple in a research report on Thursday, January 12th. Barclays reduced their price target on shares of Apple from $144.00 to $133.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 11th. Finally, Credit Suisse Group set a $184.00 price target on shares of Apple in a research report on Wednesday, January 4th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $171.22.

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 20,200 shares of the company’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total value of $3,004,144.00. Following the sale, the insider now owns 31,505 shares of the company’s stock, valued at $4,685,423.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Apple news, CFO Luca Maestri sold 176,299 shares of the company’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $155.95, for a total value of $27,493,829.05. Following the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $17,259,454.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 20,200 shares of the company’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the completion of the sale, the insider now directly owns 31,505 shares in the company, valued at approximately $4,685,423.60. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Apple Company Profile

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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; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.