Apple Inc. $AAPL Shares Acquired by HRC Wealth Management LLC

HRC Wealth Management LLC grew its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,670 shares of the iPhone maker’s stock after buying an additional 266 shares during the quarter. Apple accounts for 2.6% of HRC Wealth Management LLC’s investment portfolio, making the stock its 7th largest holding. HRC Wealth Management LLC’s holdings in Apple were worth $4,856,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Burkett Financial Services LLC raised its position in Apple by 0.6% during the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock worth $3,199,000 after buying an additional 93 shares during the last quarter. Avid Wealth Partners LLC raised its position in Apple by 28.3% during the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock worth $935,000 after buying an additional 930 shares during the last quarter. Bell & Brown Wealth Advisors LLC raised its position in Apple by 0.4% during the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock worth $13,772,000 after buying an additional 240 shares during the last quarter. American National Bank & Trust raised its position in Apple by 2.4% during the 2nd quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock worth $40,107,000 after buying an additional 4,543 shares during the last quarter. Finally, Andina Capital Management LLC raised its position in Apple by 209.2% during the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock worth $1,507,000 after buying an additional 4,591 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Price Performance

Apple stock opened at $269.00 on Wednesday. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $269.89. The stock has a market capitalization of $3.99 trillion, a P/E ratio of 40.82, a P/E/G ratio of 2.61 and a beta of 1.09. The firm’s 50-day moving average is $245.68 and its two-hundred day moving average is $220.69. 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 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. Equities analysts predict that Apple Inc. will post 7.28 earnings per share 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 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%.

Insider Activity

In other Apple news, CFO Kevan Parekh sold 4,199 shares of the firm’s 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 of the company’s stock, valued at $2,168,373.35. This trade represents a 32.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Deirdre O’brien sold 43,013 shares of the firm’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 sale, the senior vice president directly owned 136,687 shares in the company, valued at $35,181,866.93. This represents a 23.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 259,121 shares of company stock valued at $65,358,981 over the last quarter. 0.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Morgan Stanley set a $298.00 price objective on shares of Apple and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Melius Research set a $290.00 price target on shares of Apple and gave the company a “buy” rating in a report on Wednesday, September 10th. Cowen reiterated a “buy” rating on shares of Apple in a report on Monday. Jefferies Financial Group downgraded shares of Apple from a “moderate sell” rating to a “strong sell” rating in a report on Monday, October 20th. Finally, Tigress Financial increased their price target on shares of Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 17th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $253.76.

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.