Midwest Wealth Management Inc. increased its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,322 shares of the iPhone maker’s stock after purchasing an additional 708 shares during the quarter. Apple accounts for 3.0% of Midwest Wealth Management Inc.’s holdings, making the stock its largest holding. Midwest Wealth Management Inc.’s holdings in Apple were worth $4,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Donald L. Hagan LLC lifted its position in shares of Apple by 0.3% during the first quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock worth $3,181,000 after purchasing an additional 61 shares in the last quarter. Goodwin Daniel L lifted its position in shares of Apple by 0.5% during the first quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock worth $2,230,000 after purchasing an additional 62 shares in the last quarter. Opus Capital Group LLC lifted its position in shares of Apple by 0.3% during the first quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock worth $3,332,000 after purchasing an additional 63 shares in the last quarter. Norwood Financial Corp lifted its position in shares of Apple by 0.9% during the first quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock worth $1,227,000 after purchasing an additional 65 shares in the last quarter. Finally, Investors Research Corp lifted its position in shares of Apple by 0.4% during the first quarter. Investors Research Corp now owns 16,117 shares of the iPhone maker’s stock worth $2,814,000 after purchasing an additional 66 shares in the last quarter. 57.72% of the stock is owned by institutional investors and hedge funds.
Apple Stock Down 1.9 %
Apple stock opened at $152.37 on Friday. The company has a market cap of $2.45 trillion, a P/E ratio of 25.14, a price-to-earnings-growth ratio of 1.99 and a beta of 1.23. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The company has a fifty day simple moving average of $159.46 and a 200 day simple moving average of $156.26. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63.
Apple (NASDAQ:AAPL – Get Rating) last released its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. The business had revenue of $82.96 billion during the quarter, compared to the consensus estimate of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.30 earnings per share. Research analysts anticipate that Apple Inc. will post 6.11 earnings per share for the current fiscal year.
Apple Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Friday, August 5th. Apple’s dividend payout ratio is currently 15.18%.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on AAPL. Evercore ISI upped their target price on shares of Apple from $180.00 to $185.00 in a research report on Friday, July 29th. KeyCorp increased their price objective on shares of Apple from $177.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, August 19th. Wedbush increased their price objective on shares of Apple from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, August 17th. Credit Suisse Group set a $201.00 price objective on shares of Apple in a report on Thursday, September 8th. Finally, Oppenheimer restated an “outperform” rating and issued a $190.00 price objective on shares of Apple in a report on Wednesday, June 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.52.
Insider Buying and Selling at Apple
In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the sale, the senior vice president now owns 427,334 shares in the company, valued at $70,411,823.18. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Luca Maestri sold 96,735 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the completion of the sale, the chief financial officer now owns 110,673 shares in the company, valued at approximately $19,362,241.35. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the sale, the senior vice president now owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. 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. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.
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