Orgel Wealth Management LLC Has $1.40 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Orgel Wealth Management LLC cut its position in Apple Inc. (NASDAQ:AAPL) by 17.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,136 shares of the iPhone maker’s stock after selling 1,741 shares during the quarter. Orgel Wealth Management LLC’s holdings in Apple were worth $1,395,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of AAPL. Kestra Private Wealth Services LLC increased its position in Apple by 6.4% during the third quarter. Kestra Private Wealth Services LLC now owns 949,836 shares of the iPhone maker’s stock worth $162,621,000 after acquiring an additional 57,418 shares during the period. Keystone Financial Services grew its position in Apple by 13.2% in the 3rd quarter. Keystone Financial Services now owns 3,913 shares of the iPhone maker’s stock worth $670,000 after purchasing an additional 455 shares during the last quarter. Valmark Advisers Inc. increased its holdings in shares of Apple by 0.3% during the 3rd quarter. Valmark Advisers Inc. now owns 169,493 shares of the iPhone maker’s stock worth $29,019,000 after purchasing an additional 445 shares during the period. Oppenheimer & Co. Inc. raised its position in shares of Apple by 0.6% during the third quarter. Oppenheimer & Co. Inc. now owns 1,158,270 shares of the iPhone maker’s stock valued at $198,307,000 after buying an additional 7,214 shares during the last quarter. Finally, Cidel Asset Management Inc. lifted its stake in shares of Apple by 2.8% in the third quarter. Cidel Asset Management Inc. now owns 32,773 shares of the iPhone maker’s stock valued at $5,611,000 after buying an additional 900 shares during the period. Institutional investors own 60.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AAPL. Loop Capital cut their target price on Apple from $185.00 to $170.00 and set a “hold” rating for the company in a research note on Monday, April 1st. Rosenblatt Securities raised Apple from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $196.00 to $260.00 in a report on Wednesday, June 26th. Evercore ISI upped their price objective on Apple from $220.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, June 25th. Barclays restated an “underweight” rating and set a $164.00 target price on shares of Apple in a research report on Tuesday, June 11th. Finally, Monness Crespi & Hardt reiterated a “buy” rating and issued a $205.00 price target on shares of Apple in a research report on Thursday, June 6th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $215.71.

Insider Transactions at Apple

In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the transaction, the director now owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Chris Kondo sold 4,999 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total transaction of $951,809.60. Following the completion of the transaction, the insider now owns 29,278 shares in the company, valued at $5,574,531.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the sale, the director now directly owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. Insiders have sold 192,355 shares of company stock worth $34,771,329 in the last three months. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $221.55 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $221.55. The stock has a market capitalization of $3.40 trillion, a P/E ratio of 34.46, a P/E/G ratio of 2.56 and a beta of 1.24. The business has a 50-day moving average price of $194.21 and a two-hundred day moving average price of $185.60.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The business had revenue of $90.75 billion during the quarter, compared to the consensus estimate of $90.37 billion. During the same period in the previous year, the firm posted $1.52 earnings per share. Apple’s revenue for the quarter was down 4.3% compared to the same quarter last year. Equities analysts predict that Apple Inc. will post 6.59 earnings per share for the current year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were paid a $0.25 dividend. The ex-dividend date was Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. This is an increase from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio is 15.55%.

Apple announced that its board has approved a share buyback plan on Thursday, May 2nd that permits the company to repurchase $110.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.