Apple Inc. (NASDAQ:AAPL) is Omnia Family Wealth LLC’s 6th Largest Position

Omnia Family Wealth LLC raised its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 11.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,413 shares of the iPhone maker’s stock after buying an additional 4,365 shares during the quarter. Apple comprises about 3.8% of Omnia Family Wealth LLC’s holdings, making the stock its 6th largest position. Omnia Family Wealth LLC’s holdings in Apple were worth $9,199,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Conquis Financial LLC bought a new position in shares of Apple during the 4th quarter valued at about $63,000. LSV Asset Management bought a new position in shares of Apple during the 4th quarter valued at about $65,000. Pillar Financial Advisors LLC bought a new position in shares of Apple during the 4th quarter valued at about $82,000. Compass Planning Associates Inc bought a new position in shares of Apple during the 4th quarter valued at about $96,000. Finally, Collier Financial purchased a new stake in Apple during the 4th quarter valued at about $140,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 4,486 shares of the company’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the sale, the insider directly owned 15,533 shares of the company’s stock, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.06% of the company’s stock.

Apple Price Performance

NASDAQ AAPL opened at $220.03 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The stock’s fifty day moving average price is $206.24 and its 200 day moving average price is $213.17. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a market cap of $3.27 trillion, a price-to-earnings ratio of 33.39, a PEG ratio of 2.24 and a beta of 1.16.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same period in the prior year, the company earned $1.40 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. As a group, equities research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple announced that its board has approved a stock repurchase plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Monday, August 11th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, August 11th. Apple’s dividend payout ratio is presently 15.78%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AAPL shares. Needham & Company LLC restated a “hold” rating on shares of Apple in a report on Friday, July 25th. JPMorgan Chase & Co. increased their target price on Apple from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Scotiabank cut Apple to a “market perform” rating in a report on Friday, May 2nd. UBS Group increased their target price on Apple from $210.00 to $220.00 and gave the company a “neutral” rating in a report on Friday, August 1st. Finally, Morgan Stanley increased their target price on Apple from $235.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $237.60.

Apple Company 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.