NRI Wealth Management LC Acquires 516 Shares of Apple Inc. $AAPL

NRI Wealth Management LC increased its holdings in Apple Inc. (NASDAQ:AAPL) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 34,595 shares of the iPhone maker’s stock after acquiring an additional 516 shares during the quarter. Apple makes up 4.3% of NRI Wealth Management LC’s portfolio, making the stock its 6th biggest position. NRI Wealth Management LC’s holdings in Apple were worth $7,098,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Ryan Investment Management Inc. acquired a new stake in Apple during the second quarter valued at approximately $31,000. ROSS JOHNSON & Associates LLC raised its stake in Apple by 1,800.0% during the first 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. LSV Asset Management acquired a new stake in Apple during the fourth quarter valued at approximately $65,000. Elite Financial Inc. acquired a new stake in Apple during the first quarter valued at approximately $58,000. Finally, HFM Investment Advisors LLC acquired a new stake in Apple during the first quarter valued at approximately $99,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Performance

Shares of AAPL stock opened at $262.24 on Tuesday. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $264.38. The firm has a market capitalization of $3.89 trillion, a price-to-earnings ratio of 39.79, a price-to-earnings-growth ratio of 2.46 and a beta of 1.09. The business has a 50 day simple moving average of $241.83 and a 200 day simple moving average of $217.42. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (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 analyst estimates of $88.64 billion. During the same period in the prior year, the company posted $1.40 EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current 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 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 (DPR) is presently 15.78%.

Analyst Ratings Changes

Several brokerages have issued reports on AAPL. HSBC set a $220.00 price objective on Apple and gave the company a “hold” rating in a research note on Monday, September 8th. Bank of America upped their target price on Apple from $260.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Citigroup reaffirmed a “buy” rating on shares of Apple in a report on Wednesday, September 10th. Morgan Stanley set a $298.00 target price on Apple and gave the company an “overweight” rating in a report on Thursday, October 2nd. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $240.00 target price (up from $230.00) on shares of Apple in a report on Friday, August 1st. Four analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $251.47.

Insider Transactions at Apple

In other Apple news, SVP Deirdre O’brien sold 43,013 shares of the 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 transaction, the senior vice president directly owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. This trade represents a 23.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction on 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 directly owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 259,121 shares of company stock valued at $65,358,981. Company insiders own 0.06% of the company’s stock.

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.