Apple Inc. $AAPL Holdings Lifted by PUREfi Wealth LLC

PUREfi Wealth LLC raised its position in Apple Inc. (NASDAQ:AAPL) by 6.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,562 shares of the iPhone maker’s stock after purchasing an additional 927 shares during the period. Apple comprises about 2.6% of PUREfi Wealth LLC’s investment portfolio, making the stock its 7th largest position. PUREfi Wealth LLC’s holdings in Apple were worth $3,193,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vantage Investment Partners LLC lifted its holdings in Apple by 3.5% in the 2nd quarter. Vantage Investment Partners LLC now owns 170,785 shares of the iPhone maker’s stock valued at $35,040,000 after purchasing an additional 5,810 shares in the last quarter. Knights of Columbus Asset Advisors LLC lifted its holdings in shares of Apple by 30.1% during the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 348,151 shares of the iPhone maker’s stock worth $71,430,000 after acquiring an additional 80,607 shares during the period. Plimoth Trust Co. LLC lifted its holdings in shares of Apple by 1.1% during the 2nd quarter. Plimoth Trust Co. LLC now owns 108,508 shares of the iPhone maker’s stock worth $22,263,000 after acquiring an additional 1,157 shares during the period. DAVENPORT & Co LLC lifted its holdings in shares of Apple by 0.6% during the 2nd quarter. DAVENPORT & Co LLC now owns 1,238,490 shares of the iPhone maker’s stock worth $253,483,000 after acquiring an additional 7,318 shares during the period. Finally, David Wealth Management LLC lifted its holdings in shares of Apple by 28.2% during the 2nd quarter. David Wealth Management LLC now owns 8,275 shares of the iPhone maker’s stock worth $1,698,000 after acquiring an additional 1,822 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Performance

Shares of AAPL opened at $269.00 on Wednesday. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $269.89. The company has a market cap of $3.99 trillion, a price-to-earnings ratio of 40.82, a price-to-earnings-growth ratio of 2.61 and a beta of 1.09. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The firm has a fifty day moving average of $245.68 and a 200-day moving average of $220.69.

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 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 during the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter in the previous year, the company posted $1.40 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors 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 dividend yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple’s payout ratio is currently 15.78%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AAPL shares. Wells Fargo & Company increased their price objective on shares of Apple from $245.00 to $290.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Morgan Stanley set a $298.00 price objective on shares of Apple and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Jefferies Financial Group lowered shares of Apple from a “moderate sell” rating to a “strong sell” rating in a report on Monday, October 20th. Rosenblatt Securities increased their price objective on shares of Apple from $223.00 to $241.00 and gave the stock a “neutral” rating in a report on Wednesday, September 10th. Finally, DA Davidson reiterated a “neutral” rating and set a $250.00 price objective on shares of Apple in a report on Thursday, September 11th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $253.76.

Insider Activity at Apple

In related news, CFO Kevan Parekh sold 4,199 shares of Apple stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the sale, the chief financial officer directly owned 8,765 shares in the company, valued at $2,168,373.35. The trade was a 32.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Deirdre O’brien sold 43,013 shares of the business’s stock in a transaction dated 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 sale, the senior vice president owned 136,687 shares in the company, valued at approximately $35,181,866.93. This trade represents a 23.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 259,121 shares of company stock valued at $65,358,981 in the last ninety days. Company 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.