Hurlow Wealth Management Group Inc. Boosts Stake in Apple Inc. (NASDAQ:AAPL)

Hurlow Wealth Management Group Inc. lifted its holdings in Apple Inc. (NASDAQ:AAPL) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,618 shares of the iPhone maker’s stock after buying an additional 300 shares during the quarter. Apple accounts for 1.4% of Hurlow Wealth Management Group Inc.’s portfolio, making the stock its 20th biggest holding. Hurlow Wealth Management Group Inc.’s holdings in Apple were worth $4,132,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. Foresight Capital Management Advisors Inc. boosted its position in shares of Apple by 0.3% in the second quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock worth $4,003,000 after buying an additional 55 shares during the period. Hoese & Co LLP boosted its position in shares of Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after buying an additional 57 shares during the period. Stableford Capital II LLC boosted its position in shares of Apple by 0.3% in the first quarter. Stableford Capital II LLC now owns 17,156 shares of the iPhone maker’s stock worth $2,942,000 after buying an additional 59 shares during the period. Whitcomb & Hess Inc. boosted its position in shares of Apple by 1.7% in the second quarter. Whitcomb & Hess Inc. now owns 3,540 shares of the iPhone maker’s stock worth $746,000 after buying an additional 59 shares during the period. Finally, Kwmg LLC boosted its position in shares of Apple by 0.6% in the first quarter. Kwmg LLC now owns 10,640 shares of the iPhone maker’s stock worth $1,825,000 after buying an additional 60 shares during the period. 60.41% of the stock is owned by institutional investors and hedge funds.

Apple Stock Down 0.9 %

Shares of Apple stock opened at $220.85 on Thursday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.23. The stock has a market capitalization of $3.39 trillion, a price-to-earnings ratio of 34.35, a PEG ratio of 2.69 and a beta of 1.24. The business’s 50 day simple moving average is $222.72 and its 200-day simple moving average is $196.70. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. During the same period in the prior year, the company posted $1.26 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities research analysts forecast that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio (DPR) is 15.55%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AAPL. Raymond James upped their target price on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. KeyCorp reiterated a “hold” rating and issued a $247.61 price target on shares of Apple in a research note on Wednesday, August 28th. Citigroup reiterated a “buy” rating and issued a $255.00 price target on shares of Apple in a research note on Tuesday, August 27th. Piper Sandler reiterated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Tuesday, August 27th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $273.00 price target on shares of Apple in a research note on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.62.

Insider Buying and Selling

In related news, insider Chris Kondo sold 5,178 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 5,178 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The disclosure for this sale can be found here. Insiders sold 113,884 shares of company stock valued at $23,723,887 in the last three months. 0.06% of the stock is currently owned by corporate insiders.

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.