Seaside Wealth Management Inc. Has $1.27 Million Stock Position in Apple Inc. $AAPL

Seaside Wealth Management Inc. lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 8.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,191 shares of the iPhone maker’s stock after purchasing an additional 468 shares during the quarter. Apple makes up about 0.4% of Seaside Wealth Management Inc.’s investment portfolio, making the stock its 22nd largest position. Seaside Wealth Management Inc.’s holdings in Apple were worth $1,270,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of AAPL. ROSS JOHNSON & Associates LLC raised its holdings in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after buying an additional 180 shares in the last quarter. Life Planning Partners Inc bought a new stake in Apple in the fourth quarter valued at $47,000. Elite Financial Inc. acquired a new position in Apple during the first quarter worth $58,000. Conquis Financial LLC bought a new position in shares of Apple during the fourth quarter valued at $63,000. Finally, LSV Asset Management acquired a new stake in shares of Apple in the 4th quarter valued at $65,000. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AAPL has been the subject of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Apple from $255.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, September 19th. Tigress Financial upped their price objective on shares of Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 17th. BMO Capital Markets reiterated a “buy” rating on shares of Apple in a research note on Wednesday, August 13th. Needham & Company LLC reissued a “hold” rating on shares of Apple in a report on Friday, July 25th. Finally, Barclays raised their price target on Apple from $173.00 to $180.00 and gave the company an “underweight” rating in a report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $244.66.

Insider Buying and Selling

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of the stock in a transaction dated 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 transaction, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Down 0.8%

AAPL opened at $252.31 on Thursday. The firm has a 50 day simple moving average of $227.04 and a 200 day simple moving average of $212.78. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company has a market cap of $3.74 trillion, a price-to-earnings ratio of 38.29, a price-to-earnings-growth ratio of 2.64 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 quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. The firm had revenue of $94.04 billion for 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 business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period last year, the firm earned $1.40 earnings per share. On average, sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s payout ratio is 15.78%.

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.