Long Island Wealth Management Inc. Has $908,000 Position in Apple Inc. (NASDAQ:AAPL)

Long Island Wealth Management Inc. raised its holdings in Apple Inc. (NASDAQ:AAPL) by 7.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,313 shares of the iPhone maker’s stock after buying an additional 307 shares during the quarter. Long Island Wealth Management Inc.’s holdings in Apple were worth $908,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Access Investment Management LLC acquired a new position in Apple during the first quarter worth $140,000. Hoese & Co LLP grew its holdings in shares of Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the last quarter. Sage Financial Group Inc. acquired a new stake in shares of Apple during the 2nd quarter worth about $206,000. Benchmark Wealth Management LLC bought a new position in Apple during the 2nd quarter valued at about $208,000. Finally, SMH Capital Advisors Inc. acquired a new position in Apple in the second quarter valued at about $209,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several recent analyst reports. TD Cowen raised their price objective on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Wedbush reaffirmed an “outperform” rating and set a $285.00 price target on shares of Apple in a report on Monday, September 9th. Bank of America reissued a “buy” rating and issued a $256.00 price objective on shares of Apple in a research note on Thursday, October 3rd. Barclays decreased their target price on Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, November 1st. Finally, Robert W. Baird lifted their price target on Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $235.51.

Insiders Place Their Bets

In related news, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the sale, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. The trade was a 24.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the transaction, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. The trade was a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 404,040 shares of company stock worth $91,062,512 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Up 1.4 %

Apple stock opened at $228.22 on Friday. The firm has a market capitalization of $3.45 trillion, a price-to-earnings ratio of 37.54, a PEG ratio of 2.20 and a beta of 1.24. The company’s 50 day simple moving average is $226.84 and its 200 day simple moving average is $215.52. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same period last year, the firm posted $1.46 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple’s payout ratio is 16.45%.

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.