Apex Wealth Management LLC Buys 261 Shares of Apple Inc. $AAPL

Apex Wealth Management LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,129 shares of the iPhone maker’s stock after purchasing an additional 261 shares during the period. Apple comprises 2.4% of Apex Wealth Management LLC’s portfolio, making the stock its 15th largest holding. Apex Wealth Management LLC’s holdings in Apple were worth $2,694,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Conquis Financial LLC bought a new position in Apple during the fourth quarter valued at approximately $63,000. LSV Asset Management bought a new position in Apple in the fourth quarter worth approximately $65,000. Elite Financial Inc. bought a new position in Apple in the first quarter worth approximately $58,000. Pillar Financial Advisors LLC bought a new position in Apple in the fourth quarter worth approximately $82,000. Finally, Compass Planning Associates Inc bought a new position in Apple in the fourth quarter worth approximately $96,000. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Monness Crespi & Hardt increased their price target on shares of Apple from $245.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Citigroup increased their price target on shares of Apple from $240.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Evercore ISI reiterated an “outperform” rating and issued a $250.00 price target on shares of Apple in a research report on Wednesday, August 13th. UBS Group increased their price target on shares of Apple from $210.00 to $220.00 and gave the stock a “neutral” rating in a research report on Friday, August 1st. Finally, Loop Capital decreased their price target on shares of Apple from $230.00 to $226.00 and set a “hold” rating on the stock in a research report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $237.98.

Insiders Place Their Bets

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

Apple Stock Up 1.3%

Shares of AAPL stock opened at $227.76 on Monday. The company has a market capitalization of $3.38 trillion, a price-to-earnings ratio of 34.56, a PEG ratio of 2.38 and a beta of 1.16. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company’s fifty day moving average price is $212.52 and its 200-day moving average price is $212.82. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

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

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s dividend payout ratio (DPR) is presently 15.78%.

Apple declared that its board has authorized a stock buyback plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is 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.