Defined Wealth Management LLC Acquires 223 Shares of Apple Inc. $AAPL

Defined Wealth Management LLC increased its stake in Apple Inc. (NASDAQ:AAPL) by 2.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,575 shares of the iPhone maker’s stock after purchasing an additional 223 shares during the period. Apple makes up approximately 1.5% of Defined Wealth Management LLC’s portfolio, making the stock its 22nd biggest holding. Defined Wealth Management LLC’s holdings in Apple were worth $2,375,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Channel Wealth LLC grew its stake in Apple by 1.5% in the 2nd quarter. Channel Wealth LLC now owns 57,175 shares of the iPhone maker’s stock worth $11,731,000 after buying an additional 823 shares in the last quarter. Pines Wealth Management LLC raised its position in shares of Apple by 6.7% during the 2nd quarter. Pines Wealth Management LLC now owns 41,744 shares of the iPhone maker’s stock valued at $8,914,000 after buying an additional 2,616 shares in the last quarter. Sunpointe LLC lifted its holdings in shares of Apple by 55.6% during the 2nd quarter. Sunpointe LLC now owns 37,492 shares of the iPhone maker’s stock worth $7,692,000 after acquiring an additional 13,404 shares during the last quarter. Towerpoint Wealth LLC grew its position in Apple by 1.0% in the second quarter. Towerpoint Wealth LLC now owns 19,950 shares of the iPhone maker’s stock worth $4,093,000 after acquiring an additional 193 shares in the last quarter. Finally, Seaside Wealth Management Inc. increased its stake in Apple by 8.2% in the second quarter. Seaside Wealth Management Inc. now owns 6,191 shares of the iPhone maker’s stock valued at $1,270,000 after acquiring an additional 468 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on AAPL. HSBC set a $220.00 price target on Apple and gave the stock a “hold” rating in a research note on Monday, September 8th. Raymond James Financial reaffirmed an “outperform” rating and issued a $240.00 target price (up previously from $230.00) on shares of Apple in a research note on Friday, August 1st. Monness Crespi & Hardt lifted their price target on shares of Apple from $245.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Moffett Nathanson upgraded shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 price objective for the company in a report on Thursday, September 4th. Finally, Bank of America increased their target price on shares of Apple from $260.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $244.66.

Insider Transactions at Apple

In other Apple 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 transaction of $7,772,047.20. Following the completion of the transaction, the senior vice president owned 136,687 shares of the company’s stock, valued at $30,508,538.40. This represents a 20.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Down 0.8%

Shares of NASDAQ AAPL opened at $252.31 on Thursday. The firm’s fifty day moving average is $227.04 and its 200 day moving average is $212.78. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The company has a market cap of $3.74 trillion, a price-to-earnings ratio of 38.29, a PEG ratio of 2.64 and a beta of 1.11.

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

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid 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 (DPR) 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.