Opal Wealth Advisors LLC Purchases 1,538 Shares of Apple Inc. $AAPL

Opal Wealth Advisors LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,407 shares of the iPhone maker’s stock after purchasing an additional 1,538 shares during the quarter. Apple makes up about 3.4% of Opal Wealth Advisors LLC’s investment portfolio, making the stock its 5th largest position. Opal Wealth Advisors LLC’s holdings in Apple were worth $12,188,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Ryan Investment Management Inc. acquired a new stake in shares of Apple during the 2nd quarter worth approximately $31,000. ROSS JOHNSON & Associates LLC boosted its stake in Apple by 1,800.0% in the 1st 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 Apple in the 4th quarter valued at $47,000. Elite Financial Inc. acquired a new stake in Apple in the 1st quarter valued at $58,000. Finally, Conquis Financial LLC acquired a new stake in Apple in the 4th quarter valued at $63,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 43,013 shares of Apple stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the completion of the sale, the senior vice president directly owned 136,687 shares of the company’s stock, valued at $35,181,866.93. The trade was a 23.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the sale, the senior vice president directly owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,922 shares of company stock valued at $64,320,190 over the last three months. Company insiders own 0.06% of the company’s stock.

Apple Stock Up 0.3%

Shares of Apple stock opened at $258.02 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The business has a fifty day simple moving average of $233.09 and a 200 day simple moving average of $214.69. The stock has a market cap of $3.83 trillion, a PE ratio of 39.15, a price-to-earnings-growth ratio of 2.49 and a beta of 1.09.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. During the same period in the previous year, the firm earned $1.40 earnings per share. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. Research analysts predict that Apple Inc. will post 7.28 EPS 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%.

Analyst Upgrades and Downgrades

Several analysts recently commented on AAPL shares. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $266.00 price target on shares of Apple in a research note on Tuesday, August 26th. Evercore ISI set a $290.00 price target on Apple and gave the company an “outperform” rating in a research note on Friday, September 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Apple in a research note on Saturday, September 27th. Moffett Nathanson raised Apple from a “sell” rating to a “neutral” rating and set a $225.00 price target on the stock in a research note on Thursday, September 4th. Finally, Tigress Financial lifted their price objective on Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a research report on Wednesday, September 17th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $247.49.

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.