Siligmueller & Norvid Wealth Advisors LLC Buys 118 Shares of Apple Inc. (NASDAQ:AAPL)

Siligmueller & Norvid Wealth Advisors LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,576 shares of the iPhone maker’s stock after acquiring an additional 118 shares during the period. Siligmueller & Norvid Wealth Advisors LLC’s holdings in Apple were worth $794,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AAPL. River Street Advisors LLC raised its position in Apple by 1.1% in the 1st quarter. River Street Advisors LLC now owns 31,237 shares of the iPhone maker’s stock worth $6,939,000 after purchasing an additional 344 shares during the period. Walter & Keenan Wealth Management LLC IN ADV raised its position in Apple by 0.6% in the 1st quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 90,441 shares of the iPhone maker’s stock worth $20,090,000 after purchasing an additional 551 shares during the period. DecisionMap Wealth Management LLC raised its position in Apple by 2.5% in the 1st quarter. DecisionMap Wealth Management LLC now owns 15,299 shares of the iPhone maker’s stock worth $3,398,000 after purchasing an additional 377 shares during the period. Trifecta Capital Advisors LLC raised its position in Apple by 1.9% in the 1st quarter. Trifecta Capital Advisors LLC now owns 113,446 shares of the iPhone maker’s stock worth $25,200,000 after purchasing an additional 2,130 shares during the period. Finally, Blue Trust Inc. raised its position in Apple by 2.0% in the 1st quarter. Blue Trust Inc. now owns 169,861 shares of the iPhone maker’s stock worth $37,731,000 after purchasing an additional 3,306 shares during the period. 67.73% of the stock is owned by institutional investors.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 4,486 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the transaction, the insider directly owned 15,533 shares of the company’s stock, valued at $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AAPL. China Renaissance began coverage on shares of Apple in a research report on Tuesday, April 22nd. They issued a “buy” rating and a $241.00 target price on the stock. Raymond James Financial decreased their target price on shares of Apple from $250.00 to $230.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Citigroup reiterated a “buy” rating on shares of Apple in a research report on Tuesday, June 10th. Barclays set a $173.00 target price on shares of Apple and gave the stock an “underweight” rating in a research report on Tuesday, June 24th. Finally, TD Cowen decreased their target price on shares of Apple from $290.00 to $275.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $234.94.

Apple Trading Up 0.1%

Shares of NASDAQ AAPL opened at $213.88 on Monday. The firm’s 50 day moving average price is $204.77 and its 200-day moving average price is $214.38. The company has a market cap of $3.19 trillion, a PE ratio of 33.31, a P/E/G ratio of 2.39 and a beta of 1.20. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The firm had revenue of $95.36 billion during the quarter, compared to analysts’ expectations of $94.04 billion. During the same period in the previous year, the company earned $1.53 earnings per share. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple announced that its Board of Directors has approved a share buyback plan on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. This is a boost from Apple’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. Apple’s payout ratio is presently 16.20%.

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.