Bannerman Wealth Management Group LLC Purchases 472 Shares of Apple Inc. $AAPL

Bannerman Wealth Management Group LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 35.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,816 shares of the iPhone maker’s stock after purchasing an additional 472 shares during the quarter. Apple accounts for 0.3% of Bannerman Wealth Management Group LLC’s portfolio, making the stock its 28th largest position. Bannerman Wealth Management Group LLC’s holdings in Apple were worth $373,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Boyce & Associates Wealth Consulting Inc. increased its position in shares of Apple by 0.9% in the 2nd quarter. Boyce & Associates Wealth Consulting Inc. now owns 9,704 shares of the iPhone maker’s stock valued at $2,012,000 after buying an additional 87 shares in the last quarter. Accurate Wealth Management LLC increased its holdings in shares of Apple by 3.9% in the second quarter. Accurate Wealth Management LLC now owns 104,642 shares of the iPhone maker’s stock worth $22,222,000 after acquiring an additional 3,934 shares in the last quarter. Maseco LLP acquired a new stake in shares of Apple during the second quarter worth about $2,614,000. Main Street Group LTD lifted its holdings in shares of Apple by 1.6% during the 2nd quarter. Main Street Group LTD now owns 17,290 shares of the iPhone maker’s stock valued at $3,547,000 after purchasing an additional 268 shares in the last quarter. Finally, Axis Wealth Partners LLC lifted its holdings in shares of Apple by 5.3% during the 2nd quarter. Axis Wealth Partners LLC now owns 10,910 shares of the iPhone maker’s stock valued at $2,238,000 after purchasing an additional 550 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Moffett Nathanson upgraded shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price on the stock in a report on Thursday, September 4th. Citigroup restated a “buy” rating on shares of Apple in a report on Wednesday, September 10th. HSBC set a $220.00 target price on shares of Apple and gave the stock a “hold” rating in a research note on Monday, September 8th. Monness Crespi & Hardt lifted their price target on Apple from $245.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Finally, Needham & Company LLC restated a “hold” rating on shares of Apple in a report on Friday, July 25th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $247.49.

Insider Buying and Selling at Apple

In related news, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president directly owned 179,158 shares in the company, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Deirdre O’brien sold 43,013 shares of the firm’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the transaction, the senior vice president owned 136,687 shares in the company, valued at approximately $35,181,866.93. This trade represents a 23.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,922 shares of company stock valued at $64,320,190 in the last quarter. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of NASDAQ AAPL opened at $258.02 on Monday. The firm has a market cap of $3.83 trillion, a P/E ratio of 39.15, a price-to-earnings-growth ratio of 2.51 and a beta of 1.09. The business’s 50 day moving average is $233.09 and its 200-day moving average is $214.69. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.14. The business 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 firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.40 EPS. Equities research analysts predict that Apple Inc. will post 7.28 earnings per share 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 paid a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple’s payout ratio is 15.78%.

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.