Tanager Wealth Management LLP Acquires 1,162 Shares of Apple Inc. (NASDAQ:AAPL)

Tanager Wealth Management LLP lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.3% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 90,376 shares of the iPhone maker’s stock after buying an additional 1,162 shares during the period. Apple comprises about 2.8% of Tanager Wealth Management LLP’s portfolio, making the stock its 13th biggest holding. Tanager Wealth Management LLP’s holdings in Apple were worth $19,035,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Yeomans Consulting Group Inc. bought a new stake in Apple in the fourth quarter valued at approximately $1,713,000. Raleigh Capital Management Inc. increased its position in shares of Apple by 11.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock worth $2,986,000 after buying an additional 1,643 shares during the period. GLOBALT Investments LLC GA bought a new position in Apple during the fourth quarter worth $38,406,000. Barden Capital Management Inc. lifted its holdings in Apple by 132.8% in the fourth quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock valued at $6,283,000 after buying an additional 18,615 shares during the period. Finally, Sunpointe LLC bought a new stake in Apple during the fourth quarter valued at $4,782,000. 60.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AAPL has been the topic of a number of recent analyst reports. TD Cowen boosted their price objective on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Raymond James increased their price target on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. New Street Research reiterated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research note on Wednesday, September 25th. Cfra increased their target price on shares of Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, Morgan Stanley restated an “overweight” rating and issued a $273.00 price target on shares of Apple in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.76.

Apple Trading Up 0.1 %

NASDAQ AAPL opened at $227.79 on Monday. The stock’s fifty day moving average price is $222.19 and its 200-day moving average price is $202.38. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The stock has a market cap of $3.49 trillion, a P/E ratio of 35.43, a P/E/G ratio of 2.66 and a beta of 1.24. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. The business had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.26 earnings per share. As a group, equities analysts forecast that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were paid a $0.25 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s dividend payout ratio is presently 15.55%.

Insider Activity

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the sale, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The disclosure for this sale can be found here. Insiders sold 113,884 shares of company stock valued at $23,723,887 over the last three months. Insiders own 0.06% of the company’s stock.

About Apple

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.