Thrive Wealth Management LLC Raises Holdings in Apple Inc. (NASDAQ:AAPL)

Thrive Wealth Management LLC boosted its position in Apple Inc. (NASDAQ:AAPLFree Report) by 1.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,669 shares of the iPhone maker’s stock after purchasing an additional 563 shares during the quarter. Apple makes up approximately 1.5% of Thrive Wealth Management LLC’s investment portfolio, making the stock its 9th largest holding. Thrive Wealth Management LLC’s holdings in Apple were worth $7,488,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AAPL. Yeomans Consulting Group Inc. acquired a new stake in Apple in the fourth quarter worth about $1,713,000. Raleigh Capital Management Inc. boosted its stake in Apple by 11.8% in the 4th quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock worth $2,986,000 after purchasing an additional 1,643 shares in the last quarter. Headinvest LLC grew its position in Apple by 1.7% during the 3rd quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock worth $9,236,000 after purchasing an additional 872 shares during the last quarter. GLOBALT Investments LLC GA acquired a new position in Apple during the 4th quarter valued at approximately $38,406,000. Finally, Barden Capital Management Inc. raised its holdings in shares of Apple by 132.8% in the fourth quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock worth $6,283,000 after buying an additional 18,615 shares during the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the transaction, the chief financial officer now owns 107,788 shares in the company, valued at $18,768,046.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Apple news, CFO Luca Maestri sold 53,194 shares of the firm’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total value of $9,262,139.28. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $18,768,046.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 59,162 shares of the business’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $172.22, for a total transaction of $10,188,879.64. Following the transaction, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $84,378,155.68. The disclosure for this sale can be found here. Insiders sold 192,355 shares of company stock worth $34,771,329 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AAPL. Bank of America reissued a “buy” rating and set a $230.00 price objective on shares of Apple in a report on Wednesday, June 26th. Maxim Group increased their price objective on Apple from $178.00 to $195.00 and gave the company a “hold” rating in a report on Tuesday, June 25th. Tigress Financial lifted their target price on Apple from $240.00 to $245.00 and gave the stock a “strong-buy” rating in a report on Thursday, May 30th. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 target price on shares of Apple in a research report on Monday, July 1st. Finally, Sanford C. Bernstein lifted their price objective on shares of Apple from $195.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, June 21st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $215.71.

Get Our Latest Stock Analysis on Apple

Apple Trading Up 2.2 %

Shares of AAPL stock opened at $226.34 on Friday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $226.45. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. The stock’s fifty day moving average is $197.44 and its two-hundred day moving average is $186.31. The firm has a market capitalization of $3.47 trillion, a P/E ratio of 35.20, a PEG ratio of 2.69 and a beta of 1.24.

Apple (NASDAQ:AAPLGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.02. The firm had revenue of $90.75 billion for the quarter, compared to the consensus estimate of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period last year, the firm posted $1.52 earnings per share. Research analysts expect that Apple Inc. will post 6.59 earnings per share for the current fiscal year.

Apple announced that its board has approved a stock buyback plan on Thursday, May 2nd that permits the company to buyback $110.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were issued a dividend of $0.25 per share. This is a boost from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Friday, May 10th. Apple’s payout ratio is currently 15.55%.

Apple Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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