WMG Financial Advisors LLC Has $6.25 Million Stock Position in Apple Inc. $AAPL

WMG Financial Advisors LLC increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,130 shares of the iPhone maker’s stock after buying an additional 621 shares during the period. Apple comprises approximately 2.7% of WMG Financial Advisors LLC’s portfolio, making the stock its 7th largest position. WMG Financial Advisors LLC’s holdings in Apple were worth $6,248,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in AAPL. Life Planning Partners Inc bought a new stake in Apple in the fourth quarter valued at approximately $47,000. Elite Financial Inc. bought a new stake in Apple in the first quarter valued at $58,000. Conquis Financial LLC bought a new stake in Apple in the 4th quarter valued at about $63,000. LSV Asset Management acquired a new position in shares of Apple during the fourth quarter worth approximately $65,000. Finally, Pillar Financial Advisors LLC acquired a new position in Apple during the fourth quarter worth $82,000. Institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the topic of a number of recent research reports. UBS Group raised 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. JPMorgan Chase & Co. boosted their target price on shares of Apple from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Citigroup lifted their price objective on Apple from $240.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, August 1st. The Goldman Sachs Group reissued a “buy” rating and set a $266.00 target price on shares of Apple in a report on Tuesday, August 26th. Finally, Morgan Stanley raised their price objective on shares of Apple from $235.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $237.37.

Insider Transactions at Apple

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $223.20, for a total value 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 $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.06% of the stock is currently owned by insiders.

Apple Stock Down 1.0%

Shares of Apple stock opened at $229.72 on Wednesday. The company’s 50 day moving average price is $216.99 and its 200-day moving average price is $212.75. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The stock has a market capitalization of $3.41 trillion, a price-to-earnings ratio of 34.86, a P/E/G ratio of 2.42 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.

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

Apple Announces Dividend

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

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.