Iron Horse Wealth Management LLC Purchases 863 Shares of Apple Inc. $AAPL

Iron Horse Wealth Management LLC boosted its position in Apple Inc. (NASDAQ:AAPL) by 17.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,906 shares of the iPhone maker’s stock after purchasing an additional 863 shares during the quarter. Apple makes up approximately 0.4% of Iron Horse Wealth Management LLC’s investment portfolio, making the stock its 20th largest holding. Iron Horse Wealth Management LLC’s holdings in Apple were worth $1,212,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Mascoma Wealth Management LLC raised its holdings in Apple by 9.5% in the second quarter. Mascoma Wealth Management LLC now owns 23,054 shares of the iPhone maker’s stock worth $4,730,000 after purchasing an additional 2,005 shares in the last quarter. Simplicity Wealth LLC grew its stake in shares of Apple by 72.7% during the second quarter. Simplicity Wealth LLC now owns 160,567 shares of the iPhone maker’s stock worth $32,944,000 after acquiring an additional 67,605 shares during the last quarter. OLD National Bancorp IN grew its stake in shares of Apple by 12.8% during the second quarter. OLD National Bancorp IN now owns 669,401 shares of the iPhone maker’s stock worth $137,341,000 after acquiring an additional 75,937 shares during the last quarter. Olistico Wealth LLC grew its stake in shares of Apple by 0.5% during the second quarter. Olistico Wealth LLC now owns 58,718 shares of the iPhone maker’s stock worth $12,047,000 after acquiring an additional 286 shares during the last quarter. Finally, Carolina Wealth Advisors LLC grew its stake in shares of Apple by 20.7% during the second quarter. Carolina Wealth Advisors LLC now owns 5,874 shares of the iPhone maker’s stock worth $1,205,000 after acquiring an additional 1,008 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Trading Up 2.3%

Shares of NASDAQ:AAPL opened at $268.81 on Tuesday. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $269.12. The company has a market capitalization of $3.99 trillion, a PE ratio of 40.79, a PEG ratio of 2.56 and a beta of 1.09. The business has a 50 day moving average of $244.91 and a two-hundred day moving average of $220.14. 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 (NASDAQ:AAPL) last announced its quarterly earnings results 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 company had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same period in the previous year, the company posted $1.40 earnings per share. Apple’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders 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 is presently 15.78%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AAPL shares. HSBC set a $220.00 price target on Apple and gave the stock a “hold” rating in a research note on Monday, September 8th. UBS Group restated a “neutral” rating on shares of Apple in a research note on Monday, September 8th. Weiss Ratings restated a “hold (c+)” rating on shares of Apple in a research note on Wednesday, October 8th. Monness Crespi & Hardt boosted their price target on Apple from $245.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Finally, Loop Capital upgraded Apple from a “hold” rating to a “buy” rating and boosted their price target for the stock from $226.00 to $315.00 in a research note on Monday, October 20th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $252.83.

Insiders Place Their Bets

In other news, CFO Kevan Parekh sold 4,199 shares of the company’s stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the completion of the transaction, the chief financial officer directly owned 8,765 shares of the company’s stock, valued at $2,168,373.35. This represents a 32.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Katherine L. Adams sold 47,125 shares of the company’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 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. Corporate insiders own 0.06% of the company’s stock.

Apple Company 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.