Apple Inc. (NASDAQ:AAPL) Shares Purchased by Heirloom Wealth Management

Heirloom Wealth Management grew its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,272 shares of the iPhone maker’s stock after acquiring an additional 744 shares during the quarter. Apple comprises approximately 3.0% of Heirloom Wealth Management’s investment portfolio, making the stock its 11th largest holding. Heirloom Wealth Management’s holdings in Apple were worth $9,616,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Hershey Financial Advisers LLC acquired a new stake in Apple during the 2nd quarter worth $42,000. Christopher J. Hasenberg Inc boosted its stake in Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares during the last quarter. Hoese & Co LLP boosted its stake in Apple by 6.7% during 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 Apple during the 2nd quarter worth $206,000. Finally, Benchmark Wealth Management LLC acquired a new stake in Apple during the 2nd quarter worth $208,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $247.77 on Wednesday. The company has a market cap of $3.75 trillion, a price-to-earnings ratio of 40.75, a price-to-earnings-growth ratio of 2.38 and a beta of 1.23. The company has a 50-day moving average price of $230.80 and a 200-day moving average price of $222.26. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $248.21.

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

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is 16.45%.

Analyst Ratings Changes

AAPL has been the topic of several recent research reports. Moffett Nathanson lowered their price target on shares of Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 19th. KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a research report on Friday, October 25th. Loop Capital lowered their price target on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and boosted their price objective for the company from $205.00 to $212.92 in a report on Monday, October 7th. Finally, Melius Research restated a “buy” rating and issued a $265.00 price objective on shares of Apple in a report on Tuesday, August 27th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $236.78.

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 shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock worth $92,007,745 over the last 90 days. 0.06% of the stock is currently owned by 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.