NEIRG Wealth Management LLC Has $9.02 Million Stake in Apple Inc. (NASDAQ:AAPL)

NEIRG Wealth Management LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,703 shares of the iPhone maker’s stock after selling 1,023 shares during the period. Apple comprises about 1.6% of NEIRG Wealth Management LLC’s holdings, making the stock its 21st largest position. NEIRG Wealth Management LLC’s holdings in Apple were worth $9,021,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of AAPL. MKT Advisors LLC grew its holdings in shares of Apple by 0.5% during the 2nd quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock valued at $1,777,000 after purchasing an additional 60 shares during the last quarter. Aspire Capital Advisors LLC boosted its position in Apple by 0.5% during the 1st quarter. Aspire Capital Advisors LLC now owns 14,076 shares of the iPhone maker’s stock valued at $2,321,000 after buying an additional 64 shares during the period. Freedom Wealth Alliance LLC boosted its position in Apple by 0.4% during the 1st quarter. Freedom Wealth Alliance LLC now owns 16,091 shares of the iPhone maker’s stock valued at $2,653,000 after buying an additional 67 shares during the period. Adaptive Financial Consulting LLC boosted its position in Apple by 2.7% during the 4th quarter. Adaptive Financial Consulting LLC now owns 2,606 shares of the iPhone maker’s stock valued at $339,000 after buying an additional 68 shares during the period. Finally, PFG Private Wealth Management LLC boosted its position in Apple by 0.9% during the 1st quarter. PFG Private Wealth Management LLC now owns 7,644 shares of the iPhone maker’s stock valued at $1,260,000 after buying an additional 68 shares during the period. 58.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 15,419 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $178.56, for a total value of $2,753,216.64. Following the transaction, the senior vice president now owns 136,445 shares of the company’s stock, valued at $24,363,619.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.06% of the stock is currently owned by insiders.

Apple Stock Performance

AAPL opened at $187.65 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.63. The company has a market cap of $2.93 trillion, a price-to-earnings ratio of 31.54, a PEG ratio of 2.63 and a beta of 1.28. The company’s 50 day moving average is $186.75 and its 200 day moving average is $172.87. Apple Inc. has a 12-month low of $124.17 and a 12-month high of $198.23.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. The company had revenue of $81.80 billion for the quarter, compared to the consensus estimate of $81.79 billion. Apple had a net margin of 24.68% and a return on equity of 164.92%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.20 earnings per share. On average, equities research analysts predict that Apple Inc. will post 6.04 EPS for the current year.

Apple declared that its board has approved a stock repurchase program on Thursday, May 4th that authorizes the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Friday, August 11th. Apple’s payout ratio is 16.13%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Raymond James raised their target price on shares of Apple from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Morgan Stanley dropped their target price on shares of Apple from $220.00 to $215.00 and set an “overweight” rating for the company in a research report on Friday, August 4th. Sanford C. Bernstein raised their target price on shares of Apple from $175.00 to $195.00 and gave the stock a “market perform” rating in a research report on Thursday, July 27th. Robert W. Baird raised their target price on shares of Apple from $180.00 to $204.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 1st. Finally, Tigress Financial raised their target price on shares of Apple from $210.00 to $225.00 in a research report on Friday, June 23rd. Ten investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.86.

Apple Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. 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.