Inspirion Wealth Advisors LLC Has $11.81 Million Position in Apple Inc. $AAPL

Inspirion Wealth Advisors LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,546 shares of the iPhone maker’s stock after purchasing an additional 810 shares during the period. Apple makes up about 1.6% of Inspirion Wealth Advisors LLC’s portfolio, making the stock its 17th biggest holding. Inspirion Wealth Advisors LLC’s holdings in Apple were worth $11,807,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of AAPL. Advanced Portfolio Management LLC increased its position in shares of Apple by 0.3% in the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock worth $3,260,000 after purchasing an additional 47 shares during the period. Salus Financial Advisors LLC increased its position in shares of Apple by 3.9% in the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock worth $291,000 after purchasing an additional 49 shares during the period. Sharpepoint LLC increased its position 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 period. Redwood Financial Network Corp increased its position in shares of Apple by 0.6% in the fourth quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker’s stock worth $2,184,000 after purchasing an additional 53 shares during the period. Finally, Mission Hills Financial Advisory LLC increased its position 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 period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on AAPL shares. Tigress Financial raised their price target on Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 17th. Needham & Company LLC restated a “hold” rating on shares of Apple in a research report on Friday, July 25th. DA Davidson restated a “neutral” rating and issued a $250.00 price target on shares of Apple in a research report on Thursday, September 11th. Bank of America lifted their target price on Apple from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Finally, Evercore ISI lifted their target price on Apple from $250.00 to $260.00 and gave the company an “outperform” rating in a research report on Wednesday, September 10th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $244.03.

Insider Activity

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

Apple Stock Performance

Shares of AAPL stock opened at $254.43 on Wednesday. The business’s 50 day simple moving average is $226.20 and its 200 day simple moving average is $212.51. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The stock has a market capitalization of $3.78 trillion, a PE ratio of 38.61, a PEG ratio of 2.66 and a beta of 1.11. 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 earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business had revenue of $94.04 billion for the quarter, compared to analysts’ expectations of $88.64 billion. During the same period in the prior year, the business posted $1.40 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. As a group, research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

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