Tower Wealth Partners Inc. Buys 323 Shares of Apple Inc. (NASDAQ:AAPL)

Tower Wealth Partners Inc. boosted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,779 shares of the iPhone maker’s stock after purchasing an additional 323 shares during the period. Apple comprises 1.8% of Tower Wealth Partners Inc.’s portfolio, making the stock its 12th largest holding. Tower Wealth Partners Inc.’s holdings in Apple were worth $2,285,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. IFM Investors Pty Ltd increased its stake in shares of Apple by 20.0% in the first quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock worth $456,728,000 after purchasing an additional 435,891 shares in the last quarter. Ironwood Wealth Management LLC. increased its stake in shares of Apple by 0.4% in the first quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock worth $42,016,000 after purchasing an additional 1,040 shares in the last quarter. Markel Corp increased its stake in shares of Apple by 0.7% in the first quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock worth $210,752,000 after purchasing an additional 8,450 shares in the last quarter. Camden Capital LLC grew its stake in Apple by 9.2% during the first quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock valued at $27,305,000 after acquiring an additional 13,200 shares in the last quarter. Finally, Harbor Island Capital LLC grew its stake in Apple by 0.3% during the first quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock valued at $23,629,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 58.51% of the company’s stock.

Insider Buying and Selling at Apple

In other news, CFO Luca Maestri sold 31,685 shares of the company’s stock in a transaction on Monday, October 9th. The shares were sold at an average price of $178.69, for a total value of $5,661,792.65. Following the completion of the transaction, the chief financial officer now owns 107,661 shares in the company, valued at approximately $19,237,944.09. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Luca Maestri sold 31,685 shares of the company’s stock in a transaction on Monday, October 9th. The shares were sold at an average price of $178.69, for a total value of $5,661,792.65. Following the completion of the transaction, the chief financial officer now owns 107,661 shares in the company, valued at approximately $19,237,944.09. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Jeffrey E. Williams sold 69,785 shares of the stock in a transaction on Friday, October 6th. The stock was sold at an average price of $177.00, for a total transaction of $12,351,945.00. Following the sale, the chief operating officer now owns 489,817 shares of the company’s stock, valued at approximately $86,697,609. The disclosure for this sale can be found here. In the last three months, insiders have sold 439,585 shares of company stock valued at $76,485,550. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Raymond James raised their target price on shares of Apple from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Apple in a research note on Thursday, September 21st. Barclays cut their target price on shares of Apple from $167.00 to $166.00 and set an “equal weight” rating for the company in a research note on Monday, October 30th. Oppenheimer cut their target price on shares of Apple from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Monday, October 30th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $220.00 target price on shares of Apple in a research note on Friday, September 15th. Ten research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $197.82.

Apple Stock Performance

Shares of Apple stock opened at $184.80 on Tuesday. The business has a 50-day moving average of $176.38 and a 200 day moving average of $180.29. Apple Inc. has a 12 month low of $124.17 and a 12 month high of $198.23. The stock has a market capitalization of $2.87 trillion, a price-to-earnings ratio of 30.20, a price-to-earnings-growth ratio of 2.58 and a beta of 1.30. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.99 and a quick ratio of 0.94.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, November 2nd. The iPhone maker reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.07. The company had revenue of $89.50 billion during the quarter, compared to analysts’ expectations of $89.34 billion. Apple had a return on equity of 160.78% and a net margin of 25.31%. Apple’s revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the business posted $1.29 EPS. As a group, sell-side analysts forecast that Apple Inc. will post 6.55 earnings per share for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, November 13th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date is Friday, November 10th. Apple’s dividend payout ratio is presently 15.69%.

About Apple

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.