Aprio Wealth Management LLC Has $13.46 Million Stock Holdings in Apple Inc. $AAPL

Aprio Wealth Management LLC grew its holdings in Apple Inc. (NASDAQ:AAPL) by 7.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,611 shares of the iPhone maker’s stock after purchasing an additional 4,389 shares during the quarter. Apple comprises about 1.7% of Aprio Wealth Management LLC’s portfolio, making the stock its 12th biggest position. Aprio Wealth Management LLC’s holdings in Apple were worth $13,463,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Life Planning Partners Inc acquired a new position in Apple during the 4th quarter worth approximately $47,000. Elite Financial Inc. acquired a new position in Apple during the 1st quarter worth approximately $58,000. Conquis Financial LLC acquired a new position in Apple during the 4th quarter worth approximately $63,000. LSV Asset Management acquired a new position in Apple during the 4th quarter worth approximately $65,000. Finally, Pillar Financial Advisors LLC acquired a new position in Apple during the 4th quarter worth approximately $82,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of research reports. Monness Crespi & Hardt upped their price target on Apple from $245.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Moffett Nathanson raised Apple from a “sell” rating to a “neutral” rating and set a $225.00 price target on the stock in a research note on Thursday, September 4th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $266.00 price target on shares of Apple in a research note on Tuesday, August 26th. Phillip Securities downgraded Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price target on the stock. in a research note on Thursday. Finally, Barclays upped their price target on Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a research note on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average target price of $240.80.

Apple Stock Performance

Shares of AAPL opened at $234.07 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a 50 day moving average price of $221.50 and a two-hundred day moving average price of $212.39. The firm has a market capitalization of $3.47 trillion, a P/E ratio of 35.52, a P/E/G ratio of 2.39 and a beta of 1.11. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 170.91% and a net margin of 24.30%.Apple’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.40 earnings per share. Equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio is currently 15.78%.

Insider Activity

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

Apple 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.