21 West Wealth Management LLC Acquires New Position in Apple Inc. $AAPL

21 West Wealth Management LLC acquired a new position in shares of Apple Inc. (NASDAQ:AAPL) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 5,924 shares of the iPhone maker’s stock, valued at approximately $1,215,000.

Several other hedge funds have also modified their holdings of the company. Advanced Portfolio Management LLC grew its position in Apple by 0.3% in the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock valued at $3,260,000 after acquiring an additional 47 shares during the last quarter. Salus Financial Advisors LLC raised its stake in Apple by 3.9% in the first 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 last quarter. Sharpepoint LLC raised its stake in shares of Apple by 3.5% in the first quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker’s stock worth $322,000 after purchasing an additional 51 shares during the last quarter. Mission Hills Financial Advisory LLC raised its stake in shares of Apple by 1.3% in the first quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker’s stock worth $892,000 after purchasing an additional 53 shares during the last quarter. Finally, Redwood Financial Network Corp grew its holdings in Apple by 0.6% during the fourth quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker’s stock worth $2,184,000 after acquiring an additional 53 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Performance

NASDAQ AAPL opened at $245.50 on Friday. The firm has a 50-day moving average price of $224.35 and a two-hundred day moving average price of $212.42. The company has a market capitalization of $3.64 trillion, a P/E ratio of 37.25, a P/E/G ratio of 2.47 and a beta of 1.11. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10.

Apple (NASDAQ:AAPL) last issued 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 business had revenue of $94.04 billion during 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 firm’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.40 EPS. Analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

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

Analyst Ratings Changes

AAPL has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on Apple from $255.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a research report on Friday, July 25th. Rosenblatt Securities upped their target price on Apple from $223.00 to $241.00 and gave the company a “neutral” rating in a research report on Wednesday, September 10th. DA Davidson reissued a “neutral” rating and set a $250.00 target price on shares of Apple in a research note on Thursday, September 11th. Finally, Barclays raised their price target on Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $242.74.

Insider Activity at Apple

In other Apple 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 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 approximately $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

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.