Affinity Wealth Management LLC Has $5.43 Million Holdings in Apple Inc. $AAPL

Affinity Wealth Management LLC decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 0.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,469 shares of the iPhone maker’s stock after selling 55 shares during the quarter. Apple makes up 0.9% of Affinity Wealth Management LLC’s investment portfolio, making the stock its 24th biggest holding. Affinity Wealth Management LLC’s holdings in Apple were worth $5,431,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Advanced Portfolio Management LLC raised its stake in Apple by 0.3% in the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock valued at $3,260,000 after buying an additional 47 shares during the last quarter. Salus Financial Advisors LLC boosted its holdings in Apple by 3.9% during the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock worth $291,000 after buying an additional 49 shares in the last quarter. Sharpepoint LLC raised its position in Apple by 3.5% during the first quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker’s stock worth $322,000 after acquiring an additional 51 shares during the period. Redwood Financial Network Corp raised its position in Apple by 0.6% during the fourth quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker’s stock worth $2,184,000 after acquiring an additional 53 shares during the period. Finally, Mission Hills Financial Advisory LLC raised its position in shares of Apple by 1.3% in the first quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker’s stock valued at $892,000 after buying an additional 53 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Stock Down 0.1%

Shares of Apple stock opened at $256.48 on Wednesday. The stock has a 50-day simple moving average of $234.84 and a 200-day simple moving average of $215.25. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market cap of $3.81 trillion, a price-to-earnings ratio of 38.92, a P/E/G ratio of 2.50 and a beta of 1.09.

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

Apple Dividend Announcement

The firm 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. 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 dividend payout ratio (DPR) is currently 15.78%.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the completion of the transaction, the senior vice president directly owned 179,158 shares in the company, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 129,963 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the sale, the chief executive officer directly owned 3,280,295 shares of the company’s stock, valued at approximately $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 254,922 shares of company stock worth $64,320,190. 0.06% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Evercore ISI set a $290.00 target price on shares of Apple and gave the stock an “outperform” rating in a research note on Friday, September 26th. Tigress Financial lifted their target price on shares of Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 17th. HSBC set a $220.00 target price on shares of Apple and gave the stock a “hold” rating in a research report on Monday, September 8th. Raymond James Financial reissued an “outperform” rating and issued a $240.00 target price (up previously from $230.00) on shares of Apple in a research note on Friday, August 1st. Finally, JPMorgan Chase & Co. boosted their target price on Apple from $255.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, September 19th. Three investment 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $247.49.

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.