Aprio Wealth Management LLC Boosts Holdings in Apple Inc. (NASDAQ:AAPL)

Aprio Wealth Management LLC lifted its stake in Apple Inc. (NASDAQ:AAPL) by 0.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,748 shares of the iPhone maker’s stock after purchasing an additional 52 shares during the period. Apple accounts for about 1.3% of Aprio Wealth Management LLC’s investment portfolio, making the stock its 15th biggest holding. Aprio Wealth Management LLC’s holdings in Apple were worth $7,319,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of AAPL. Christopher J. Hasenberg Inc purchased a new position in Apple during the 1st quarter valued at about $35,000. A.P. Gilfoyle & Co. L.P. bought a new stake in Apple during the 4th quarter valued at about $39,000. Gilfoyle & Co LLC increased its stake in Apple by 168.0% during the 4th quarter. Gilfoyle & Co LLC now owns 268 shares of the iPhone maker’s stock valued at $52,000 after purchasing an additional 168 shares in the last quarter. University of Texas Texas AM Investment Managment Co. increased its stake in Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after purchasing an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. bought a new stake in Apple during the 4th quarter valued at about $85,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Apple Trading Up 1.5 %

Shares of AAPL opened at $229.79 on Friday. The company’s fifty day moving average is $221.05 and its 200 day moving average is $195.24. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23. The stock has a market capitalization of $3.52 trillion, a PE ratio of 35.74, a P/E/G ratio of 2.60 and a beta of 1.24. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 145.35%. The company had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. During the same quarter in the previous year, the business posted $1.26 earnings per share. Apple’s quarterly revenue was up 4.9% on a year-over-year basis. Sell-side analysts expect that Apple Inc. will post 6.61 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio is presently 15.55%.

Apple declared that its board has approved a share buyback program on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

AAPL has been the subject of a number of analyst reports. Rosenblatt Securities raised their price objective on shares of Apple from $260.00 to $261.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Canaccord Genuity Group raised their price objective on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Saturday, May 4th. UBS Group restated a “neutral” rating and set a $190.00 price objective on shares of Apple in a research note on Monday, July 1st. Robert W. Baird lifted their price target on shares of Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Moffett Nathanson started coverage on shares of Apple in a research note on Monday, August 19th. They issued a “neutral” rating and a $211.00 price target for the company. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $237.30.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the transaction, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the transaction, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,884 shares of company stock worth $23,723,887. Insiders own 0.06% of the company’s stock.

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.