Apple Inc. (NASDAQ:AAPL) Stock Holdings Increased by Waterfront Wealth Inc.

Waterfront Wealth Inc. lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,502 shares of the iPhone maker’s stock after acquiring an additional 793 shares during the period. Apple accounts for approximately 2.7% of Waterfront Wealth Inc.’s portfolio, making the stock its 2nd biggest holding. Waterfront Wealth Inc.’s holdings in Apple were worth $11,218,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advanced Portfolio Management LLC boosted its holdings in Apple by 0.3% in the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock worth $3,260,000 after purchasing an additional 47 shares during the period. Family Capital Management Inc. lifted its position in shares of Apple by 0.3% in the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker’s stock worth $4,235,000 after buying an additional 48 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in shares of Apple by 0.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker’s stock valued at $4,178,000 after buying an additional 48 shares during the period. Salus Financial Advisors LLC boosted its holdings in shares of Apple by 3.9% in the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock valued at $291,000 after buying an additional 49 shares during the period. Finally, Scarborough Advisors LLC grew its position in shares of Apple by 0.3% during the 4th quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker’s stock valued at $3,992,000 after buying an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AAPL. Rosenblatt Securities reissued a “neutral” rating and issued a $217.00 target price on shares of Apple in a report on Tuesday, July 29th. Bank of America raised their price target on Apple from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Citigroup boosted their price objective on Apple from $240.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, August 1st. The Goldman Sachs Group restated a “buy” rating on shares of Apple in a research note on Wednesday, May 21st. Finally, Loop Capital cut their target price on Apple from $230.00 to $215.00 and set a “hold” rating on the stock in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $237.60.

Insider Buying and Selling at Apple

In related news, SVP Deirdre O’brien sold 34,821 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the sale, the senior vice president directly owned 136,687 shares in the company, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.06% of the company’s stock.

Apple Stock Up 1.6%

Shares of Apple stock opened at $233.33 on Thursday. 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 $3.46 trillion, a P/E ratio of 35.41, a P/E/G ratio of 2.40 and a beta of 1.16. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The stock has a 50-day moving average price of $208.49 and a 200 day moving average price of $213.35.

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

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Monday, August 11th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, August 11th. Apple’s payout ratio is currently 15.78%.

Apple announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

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.