Apple Inc. (NASDAQ:AAPL) Shares Purchased by Sendero Wealth Management LLC

Sendero Wealth Management LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 258.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,756 shares of the iPhone maker’s stock after purchasing an additional 45,245 shares during the quarter. Apple accounts for approximately 2.2% of Sendero Wealth Management LLC’s holdings, making the stock its 8th biggest position. Sendero Wealth Management LLC’s holdings in Apple were worth $13,218,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AAPL. Christopher J. Hasenberg Inc acquired a new position in shares of Apple in the 1st quarter valued at $35,000. Fidelis Capital Partners LLC raised its stake in shares of Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after buying an additional 31,278 shares in the last quarter. A.P. Gilfoyle & Co. L.P. acquired a new position in shares of Apple in the 4th quarter valued at $39,000. University of Texas Texas AM Investment Managment Co. raised its stake in shares of Apple by 657.1% in the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after buying an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. acquired a new position in shares of Apple in the 4th quarter valued at $85,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $229.00 on Tuesday. The company has a market capitalization of $3.51 trillion, a price-to-earnings ratio of 35.61, a P/E/G ratio of 2.69 and a beta of 1.24. The firm’s 50 day simple moving average is $222.30 and its 200 day simple moving average is $196.25. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The business had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. Apple’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the company posted $1.26 EPS. As a group, sell-side analysts forecast that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were given a $0.25 dividend. The ex-dividend date of this dividend 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 15.55%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AAPL. Monness Crespi & Hardt increased their target price on shares of Apple from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Piper Sandler reiterated a “neutral” rating and set a $225.00 target price on shares of Apple in a research report on Tuesday, August 27th. The Goldman Sachs Group increased their target price on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Tigress Financial increased their target price on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 28th. Finally, Loop Capital upgraded shares of Apple from a “hold” rating to a “buy” rating and increased their target price for the stock from $170.00 to $300.00 in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $237.30.

Insider Activity at Apple

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