Iams Wealth Management LLC Has $2.82 Million Stake in Apple Inc. $AAPL

Iams Wealth Management LLC lowered its position in Apple Inc. (NASDAQ:AAPL) by 14.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 13,765 shares of the iPhone maker’s stock after selling 2,340 shares during the period. Apple accounts for approximately 1.3% of Iams Wealth Management LLC’s portfolio, making the stock its 15th largest position. Iams Wealth Management LLC’s holdings in Apple were worth $2,824,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Ryan Investment Management Inc. acquired a new position in shares of Apple during the second quarter worth approximately $31,000. ROSS JOHNSON & Associates LLC increased its stake in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares in the last quarter. Life Planning Partners Inc acquired a new position in Apple during the fourth quarter worth $47,000. Elite Financial Inc. bought a new position in shares of Apple in the first quarter valued at $58,000. Finally, Conquis Financial LLC acquired a new position in shares of Apple during the fourth quarter valued at about $63,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple

In other news, SVP Deirdre O’brien sold 34,821 shares of Apple stock in a transaction dated 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 sale, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

AAPL has been the topic of a number of analyst reports. BMO Capital Markets restated a “buy” rating on shares of Apple in a report on Wednesday, August 13th. JPMorgan Chase & Co. increased their price objective on Apple from $255.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. Raymond James Financial restated an “outperform” rating and issued a $240.00 target price (up previously from $230.00) on shares of Apple in a report on Friday, August 1st. Wedbush set a $310.00 price target on Apple and gave the stock an “outperform” rating in a report on Monday, September 22nd. Finally, Evercore ISI set a $290.00 price objective on Apple and gave the company an “outperform” rating in a research note on Friday, September 26th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $245.51.

Apple Trading Up 0.3%

Shares of AAPL opened at $255.45 on Thursday. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The firm has a market cap of $3.79 trillion, a P/E ratio of 38.76, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. 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 business has a 50-day moving average of $231.34 and a 200 day moving average of $214.08.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.14. The firm had revenue of $94.04 billion for 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 business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.40 earnings per share. As a group, research analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were given 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 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.