WESCAP Management Group Inc. Purchases 551 Shares of Apple Inc. (NASDAQ:AAPL)

WESCAP Management Group Inc. lifted its position in Apple Inc. (NASDAQ:AAPL) by 2.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,927 shares of the iPhone maker’s stock after buying an additional 551 shares during the period. Apple comprises 1.7% of WESCAP Management Group Inc.’s holdings, making the stock its 18th largest position. WESCAP Management Group Inc.’s holdings in Apple were worth $5,882,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in AAPL. GoalVest Advisory LLC boosted its holdings in shares of Apple by 53.1% in the first quarter. GoalVest Advisory LLC now owns 10,835 shares of the iPhone maker’s stock valued at $1,858,000 after buying an additional 3,757 shares during the period. Key Client Fiduciary Advisors LLC lifted its position in Apple by 6.1% in the 1st quarter. Key Client Fiduciary Advisors LLC now owns 49,858 shares of the iPhone maker’s stock valued at $8,550,000 after acquiring an additional 2,886 shares in the last quarter. Aletheian Wealth Advisors LLC boosted its stake in Apple by 71.0% in the 1st quarter. Aletheian Wealth Advisors LLC now owns 26,776 shares of the iPhone maker’s stock worth $4,592,000 after purchasing an additional 11,116 shares during the period. Visionary Horizons LLC boosted its stake in Apple by 1.4% in the 1st quarter. Visionary Horizons LLC now owns 4,780 shares of the iPhone maker’s stock worth $844,000 after purchasing an additional 66 shares during the period. Finally, Matrix Asset Advisors Inc. NY increased its holdings in Apple by 0.3% during the 1st quarter. Matrix Asset Advisors Inc. NY now owns 139,292 shares of the iPhone maker’s stock worth $23,886,000 after purchasing an additional 432 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Activity

In related news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the firm’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 of the company’s stock, valued at $39,542,136.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 517,924 shares of company stock worth $114,786,399. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AAPL. Cfra boosted their price target on Apple from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Piper Sandler restated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. Barclays reaffirmed an “underweight” rating and set a $186.00 price target on shares of Apple in a research note on Tuesday, October 1st. Moffett Nathanson began coverage on shares of Apple in a research report on Monday, August 19th. They issued a “neutral” rating and a $211.00 price objective on the stock. Finally, Maxim Group reaffirmed a “hold” rating and issued a $203.00 target price on shares of Apple in a research report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $235.91.

Apple Stock Down 1.8 %

AAPL opened at $225.91 on Friday. The stock has a fifty day moving average of $227.26 and a 200-day moving average of $211.69. The company has a market capitalization of $3.43 trillion, a P/E ratio of 34.39, a P/E/G ratio of 2.40 and a beta of 1.24. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data 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. The business had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.26 EPS. On average, equities analysts expect that Apple Inc. will post 6.65 EPS for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s payout ratio is 15.22%.

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.