Abound Wealth Management Purchases 382 Shares of Apple Inc. $AAPL

Abound Wealth Management boosted its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 40,024 shares of the iPhone maker’s stock after purchasing an additional 382 shares during the quarter. Apple comprises 2.3% of Abound Wealth Management’s holdings, making the stock its 12th biggest position. Abound Wealth Management’s holdings in Apple were worth $8,212,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Ryan Investment Management Inc. bought a new position in shares of Apple during the second quarter worth $31,000. ROSS JOHNSON & Associates LLC lifted its stake in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after buying an additional 180 shares in the last quarter. Life Planning Partners Inc acquired a new stake in shares of Apple during the fourth quarter worth $47,000. Elite Financial Inc. acquired a new position in Apple in the 1st quarter worth $58,000. Finally, Conquis Financial LLC bought a new stake in shares of Apple in the fourth quarter valued at about $63,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Deirdre O’brien sold 34,821 shares of the firm’s 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 transaction, the senior vice president directly owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by insiders.

Apple Price Performance

Apple stock opened at $255.45 on Thursday. 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 company has a market capitalization of $3.79 trillion, a price-to-earnings ratio of 38.76, a PEG ratio of 2.64 and a beta of 1.09. The stock’s 50 day moving average is $231.34 and its 200-day moving average is $214.08. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10.

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

Apple Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AAPL shares. UBS Group reaffirmed a “neutral” rating on shares of Apple in a research note on Monday, September 8th. JPMorgan Chase & Co. raised their target price on shares of Apple from $255.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, September 19th. Sanford C. Bernstein started coverage on shares of Apple in a research report on Monday, September 15th. They set an “outperform” rating and a $290.00 price target on the stock. Loop Capital reduced their price objective on shares of Apple from $230.00 to $226.00 and set a “hold” rating for the company in a research note on Thursday, August 21st. Finally, 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. 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $245.51.

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.