Apple Inc. $AAPL Shares Acquired by Destiny Wealth Partners LLC

Destiny Wealth Partners LLC grew its stake in Apple Inc. (NASDAQ:AAPL) by 10.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 78,984 shares of the iPhone maker’s stock after buying an additional 7,498 shares during the period. Apple accounts for 2.2% of Destiny Wealth Partners LLC’s investment portfolio, making the stock its 10th largest holding. Destiny Wealth Partners LLC’s holdings in Apple were worth $16,205,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Advanced Portfolio Management LLC boosted its stake in Apple by 0.3% during the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock worth $3,260,000 after purchasing an additional 47 shares during the period. Salus Financial Advisors LLC boosted its stake in Apple by 3.9% during the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock worth $291,000 after purchasing an additional 49 shares during the period. Sharpepoint LLC boosted its stake in Apple by 3.5% during the 1st quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker’s stock worth $322,000 after purchasing an additional 51 shares during the period. Redwood Financial Network Corp boosted its stake in Apple by 0.6% during the 4th quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker’s stock worth $2,184,000 after purchasing an additional 53 shares during the period. Finally, Mission Hills Financial Advisory LLC boosted its stake in Apple by 1.3% during the 1st quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker’s stock worth $892,000 after purchasing an additional 53 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the sale, the senior vice president directly owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This trade represents a 20.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy D. Cook sold 129,963 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the sale, the chief executive officer directly owned 3,280,295 shares in the company, valued at $842,412,558.95. This represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 254,922 shares of company stock valued at $64,320,190 in the last ninety days. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

AAPL has been the subject of a number of recent research reports. Raymond James Financial reiterated an “outperform” rating and set a $240.00 price target (up previously from $230.00) on shares of Apple in a research note on Friday, August 1st. CLSA upgraded shares of Apple to a “strong-buy” rating in a research report on Sunday, October 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Apple in a research report on Wednesday. Tigress Financial upped their price objective on shares of Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 17th. Finally, BMO Capital Markets restated a “buy” rating on shares of Apple in a research report on Wednesday, August 13th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $248.29.

Apple Stock Performance

NASDAQ:AAPL opened at $245.27 on Friday. 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 firm has a 50-day moving average price of $237.61 and a two-hundred day moving average price of $215.92. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a market capitalization of $3.64 trillion, a P/E ratio of 37.22, a price-to-earnings-growth ratio of 2.47 and a beta of 1.09.

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, topping the consensus estimate of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $94.04 billion for the quarter, compared to analysts’ expectations of $88.64 billion. During the same period last year, the company earned $1.40 EPS. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s dividend payout ratio (DPR) is currently 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.