Apple Inc. $AAPL Shares Purchased by MFG Wealth Management Inc.

MFG Wealth Management Inc. raised its stake in Apple Inc. (NASDAQ:AAPL) by 8.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 13,424 shares of the iPhone maker’s stock after purchasing an additional 1,009 shares during the period. Apple accounts for approximately 2.3% of MFG Wealth Management Inc.’s holdings, making the stock its 18th biggest holding. MFG Wealth Management Inc.’s holdings in Apple were worth $2,754,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bowman & Co S.C. raised its stake in Apple by 0.5% during the second quarter. Bowman & Co S.C. now owns 29,825 shares of the iPhone maker’s stock worth $6,119,000 after acquiring an additional 136 shares during the period. Sarver Vrooman Wealth Advisors grew its position in Apple by 112.8% in the 2nd quarter. Sarver Vrooman Wealth Advisors now owns 2,641 shares of the iPhone maker’s stock worth $542,000 after purchasing an additional 1,400 shares during the last quarter. Bulwark Capital Corp bought a new position in Apple in the 2nd quarter worth about $501,000. Reyes Financial Architecture Inc. grew its position in Apple by 17.7% in the 2nd quarter. Reyes Financial Architecture Inc. now owns 9,861 shares of the iPhone maker’s stock worth $2,023,000 after purchasing an additional 1,482 shares during the last quarter. Finally, High Probability Advisors LLC grew its position in Apple by 8.3% in the 2nd quarter. High Probability Advisors LLC now owns 4,504 shares of the iPhone maker’s stock worth $924,000 after purchasing an additional 346 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Deirdre O’brien sold 34,821 shares of Apple stock in a transaction that occurred 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 sale, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. The trade was a 20.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.06% of the company’s stock.

Apple Trading Up 4.3%

AAPL opened at $256.08 on Tuesday. 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 market capitalization of $3.80 trillion, a PE ratio of 38.86, a PEG ratio of 2.55 and a beta of 1.11. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The firm has a 50-day moving average price of $225.30 and a two-hundred day moving average price of $212.22.

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

Apple Dividend Announcement

The business also recently disclosed 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 (DPR) is presently 15.78%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Sanford C. Bernstein assumed coverage on shares of Apple in a research report on Monday, September 15th. They issued an “outperform” rating and a $290.00 target price for the company. Wedbush set a $310.00 target price on shares of Apple and gave the stock an “outperform” rating in a research report on Monday. Melius Research set a $290.00 price objective on shares of Apple and gave the company a “buy” rating in a report on Wednesday, September 10th. Loop Capital decreased their price objective on shares of Apple from $230.00 to $226.00 and set a “hold” rating for the company in a report on Thursday, August 21st. Finally, Morgan Stanley set a $240.00 price objective on shares of Apple and gave the company an “overweight” rating in a report on Wednesday, September 3rd. 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 company’s stock. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average price target of $244.03.

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.