Amplius Wealth Advisors LLC Raises Holdings in Apple Inc. $AAPL

Amplius Wealth Advisors LLC raised its position in shares of Apple Inc. (NASDAQ:AAPL) by 6.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,956 shares of the iPhone maker’s stock after acquiring an additional 3,568 shares during the period. Apple makes up 1.2% of Amplius Wealth Advisors LLC’s portfolio, making the stock its 23rd biggest position. Amplius Wealth Advisors LLC’s holdings in Apple were worth $12,917,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AAPL. Ryan Investment Management Inc. acquired a new stake in shares of Apple in the second quarter worth $31,000. ROSS JOHNSON & Associates LLC boosted its position in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares during the period. Nexus Investment Management ULC increased its holdings in Apple by 333.3% in the 2nd quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock valued at $53,000 after purchasing an additional 200 shares in the last quarter. LSV Asset Management acquired a new stake in Apple in the 4th quarter valued at $65,000. Finally, Elite Financial Inc. purchased a new position in Apple in the first quarter valued at about $58,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Performance

Shares of AAPL stock opened at $283.10 on Tuesday. The stock has a market capitalization of $4.18 trillion, a price-to-earnings ratio of 42.96, a PEG ratio of 2.62 and a beta of 1.09. Apple Inc. has a one year low of $169.21 and a one year high of $283.42. The company’s 50-day simple moving average is $263.81 and its 200-day simple moving average is $232.37. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.11. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm had revenue of $102.47 billion for the quarter, compared to analysts’ expectations of $101.65 billion. During the same quarter in the prior year, the firm posted $1.64 earnings per share. Apple’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, November 10th were given 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, November 10th. Apple’s dividend payout ratio is currently 13.92%.

Insider Activity

In other news, SVP Deirdre O’brien sold 43,013 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total value of $11,071,116.07. Following the transaction, the senior vice president directly owned 136,687 shares in the company, valued at approximately $35,181,866.93. This trade represents a 23.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Chris Kondo sold 3,752 shares of Apple stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $271.23, for a total transaction of $1,017,654.96. Following the completion of the transaction, the insider directly owned 15,098 shares of the company’s stock, valued at $4,095,030.54. This trade represents a 19.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 228,052 shares of company stock valued at $58,604,588 over the last three months. 0.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

AAPL has been the subject of several analyst reports. Barclays upped their target price on Apple from $180.00 to $230.00 and gave the stock an “underweight” rating in a research report on Friday, October 31st. The Goldman Sachs Group boosted their price target on Apple from $279.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Melius upped their price target on Apple from $290.00 to $345.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Argus set a $325.00 price objective on shares of Apple and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, DA Davidson boosted their target price on shares of Apple from $250.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $278.22.

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.