Avior Wealth Management LLC Raises Stock Holdings in Apple Inc. $AAPL

Avior Wealth Management LLC increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 188,913 shares of the iPhone maker’s stock after acquiring an additional 3,430 shares during the quarter. Apple makes up about 1.3% of Avior Wealth Management LLC’s holdings, making the stock its 15th largest position. Avior Wealth Management LLC’s holdings in Apple were worth $38,739,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Salus Financial Advisors LLC raised its holdings in shares of Apple by 3.9% in 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 raised its stake in shares of Apple by 3.5% in the first quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker’s stock valued at $322,000 after buying an additional 51 shares during the period. Redwood Financial Network Corp lifted its position in shares of Apple by 0.6% during the 4th quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker’s stock valued at $2,184,000 after buying an additional 53 shares during the last quarter. Mission Hills Financial Advisory LLC grew its stake in shares of 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 acquiring an additional 53 shares during the period. Finally, Virginia Wealth Management Group Inc. grew its stake in shares of Apple by 0.3% during the 2nd quarter. Virginia Wealth Management Group Inc. now owns 20,946 shares of the iPhone maker’s stock worth $4,298,000 after acquiring an additional 53 shares during the period. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling at Apple

In other Apple news, CEO Timothy D. Cook sold 129,963 shares of Apple 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 completion of the sale, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the transaction, the senior vice president owned 179,158 shares in the company, valued at $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 have sold 254,922 shares of company stock worth $64,320,190 over the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of research reports. Needham & Company LLC restated a “hold” rating on shares of Apple in a research note on Friday, July 25th. Evercore ISI set a $290.00 price target on shares of Apple and gave the company an “outperform” rating in a research report on Friday, September 26th. Moffett Nathanson raised shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 price objective for the company in a report on Thursday, September 4th. Bank of America boosted their target price on shares of Apple from $260.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $240.00 price target (up from $230.00) on shares of Apple in a report on Friday, August 1st. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $248.29.

Apple Stock Up 1.0%

AAPL stock opened at $247.66 on Tuesday. The company’s 50 day moving average is $238.50 and its 200 day moving average is $216.04. The stock has a market cap of $3.68 trillion, a price-to-earnings ratio of 37.58, a price-to-earnings-growth ratio of 2.39 and a beta of 1.09. 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 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.40 EPS. Sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s dividend payout ratio 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.