Meriwether Wealth & Planning LLC Increases Stake in Apple Inc. $AAPL

Meriwether Wealth & Planning LLC increased its stake in Apple Inc. (NASDAQ:AAPL) by 8.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,164 shares of the iPhone maker’s stock after buying an additional 580 shares during the period. Apple accounts for about 0.9% of Meriwether Wealth & Planning LLC’s portfolio, making the stock its 19th largest position. Meriwether Wealth & Planning LLC’s holdings in Apple were worth $1,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Burkett Financial Services LLC increased its stake in Apple by 0.6% in the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock worth $3,199,000 after buying an additional 93 shares during the period. Avid Wealth Partners LLC increased its stake in Apple by 28.3% in the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock worth $935,000 after buying an additional 930 shares during the period. Bell & Brown Wealth Advisors LLC increased its stake in Apple by 0.4% in the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock worth $13,772,000 after buying an additional 240 shares during the period. OneAscent Wealth Management LLC increased its stake in Apple by 4.6% in the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker’s stock worth $2,337,000 after buying an additional 409 shares during the period. Finally, Andina Capital Management LLC increased its stake in Apple by 209.2% in the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock worth $1,507,000 after buying an additional 4,591 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling

In related 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 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 $30,508,538.40. This trade represents a 20.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is owned by company insiders.

Apple Stock Down 0.4%

NASDAQ:AAPL opened at $254.43 on Tuesday. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The stock has a market capitalization of $3.78 trillion, a P/E ratio of 38.61, a P/E/G ratio of 2.65 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The company’s 50-day simple moving average is $229.71 and its 200-day simple moving average is $213.51.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating 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 analysts’ expectations of $88.64 billion. During the same period last year, the business earned $1.40 EPS. The company’s revenue was up 9.6% compared to the same quarter last year. On average, equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The business 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 was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple’s dividend payout ratio (DPR) is 15.78%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AAPL shares. Citigroup reissued a “buy” rating on shares of Apple in a research report on Wednesday, September 10th. Wedbush set a $310.00 target price on shares of Apple and gave the company an “outperform” rating in a research report on Monday, September 22nd. Phillip Securities downgraded shares of Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 target price on the stock. in a research report on Thursday, September 11th. Rosenblatt Securities raised their target price on shares of Apple from $223.00 to $241.00 and gave the company a “neutral” rating in a research report on Wednesday, September 10th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $266.00 target price on shares of Apple in a research report on Tuesday, August 26th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $245.66.

Apple Company 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.