Apple Inc. $AAPL Shares Bought by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 697,826 shares of the iPhone maker’s stock after acquiring an additional 14,955 shares during the quarter. Apple makes up 11.2% of Elevation Point Wealth Partners LLC’s holdings, making the stock its biggest holding. Elevation Point Wealth Partners LLC’s holdings in Apple were worth $143,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC raised its stake in Apple by 573,627.2% during the second quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock worth $39,065,374,000 after buying an additional 205,656,808 shares during the last quarter. Nuveen LLC acquired a new stake in Apple during the 1st quarter worth about $17,472,482,000. PKS Advisory Services LLC raised its position in shares of Apple by 98,917.0% in the 2nd quarter. PKS Advisory Services LLC now owns 57,956,620 shares of the iPhone maker’s stock worth $12,106,000 after acquiring an additional 57,898,088 shares in the last quarter. Laurel Wealth Advisors LLC raised its position in shares of Apple by 20,464.8% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker’s stock worth $5,553,753,000 after acquiring an additional 26,937,401 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after purchasing an additional 20,079,472 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Up 0.6%

Apple stock opened at $278.78 on Thursday. The firm has a market capitalization of $4.12 trillion, a price-to-earnings ratio of 37.32, a price-to-earnings-growth ratio of 2.59 and a beta of 1.10. The firm’s fifty day moving average price is $267.42 and its two-hundred day moving average price is $235.90. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $288.62. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 1.06.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, topping the consensus estimate of $1.74 by $0.11. Apple had a net margin of 26.92% and a return on equity of 164.05%. The company had revenue of $102.47 billion during the quarter, compared to the consensus estimate of $101.65 billion. During the same period in the previous year, the firm posted $1.64 earnings per share. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 10th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio is 13.92%.

Insider Buying and Selling

In related news, CEO Timothy D. Cook sold 129,963 shares of Apple stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the transaction, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 completion of the sale, the senior vice president directly owned 179,158 shares of the company’s stock, valued at $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 228,052 shares of company stock valued at $58,604,588. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AAPL has been the subject of several recent analyst reports. Monness Crespi & Hardt raised their target price on Apple from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Wells Fargo & Company set a $300.00 price target on Apple and gave the stock an “overweight” rating in a report on Friday, October 31st. Barclays lifted their price objective on shares of Apple from $180.00 to $230.00 and gave the company an “underweight” rating in a research note on Friday, October 31st. TD Cowen boosted their target price on shares of Apple from $275.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Apple in a report on Wednesday, December 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $282.51.

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.