Signify Wealth Boosts Stock Position in Apple Inc. (NASDAQ:AAPL)

Signify Wealth increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,320 shares of the iPhone maker’s stock after buying an additional 167 shares during the period. Apple comprises approximately 7.1% of Signify Wealth’s holdings, making the stock its 6th largest holding. Signify Wealth’s holdings in Apple were worth $4,912,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Investment Planning Advisors Inc. purchased a new position in Apple during the second quarter valued at approximately $629,000. Ayrshire Capital Management LLC lifted its holdings in Apple by 3.7% during the second quarter. Ayrshire Capital Management LLC now owns 33,414 shares of the iPhone maker’s stock worth $7,038,000 after buying an additional 1,193 shares during the period. Commerzbank Aktiengesellschaft FI boosted its position in Apple by 5.0% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 439,289 shares of the iPhone maker’s stock valued at $92,523,000 after acquiring an additional 20,754 shares in the last quarter. Capital Investment Counsel Inc increased its holdings in shares of Apple by 19.6% in the 2nd quarter. Capital Investment Counsel Inc now owns 590,475 shares of the iPhone maker’s stock valued at $124,366,000 after acquiring an additional 96,698 shares during the period. Finally, Summit Global Investments increased its holdings in shares of Apple by 28.3% in the 2nd quarter. Summit Global Investments now owns 89,915 shares of the iPhone maker’s stock valued at $18,938,000 after acquiring an additional 19,853 shares during the period. 60.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AAPL has been the subject of a number of analyst reports. Morgan Stanley restated an “overweight” rating and set a $273.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Wedbush reissued an “outperform” rating and set a $285.00 price target on shares of Apple in a research report on Monday, September 9th. Oppenheimer reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of Apple in a research report on Tuesday, September 10th. Erste Group Bank upgraded shares of Apple from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Finally, UBS Group raised their target price on shares of Apple from $190.00 to $236.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $239.17.

Apple Trading Down 0.3 %

Shares of Apple stock opened at $228.20 on Friday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.23. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The stock has a market cap of $3.50 trillion, a PE ratio of 35.49, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. The firm has a fifty day moving average price of $222.41 and a 200 day moving average price of $200.19.

Apple (NASDAQ:AAPL) last released its quarterly earnings data 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. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. During the same quarter last year, the business posted $1.26 EPS. The company’s revenue was up 4.9% on a year-over-year basis. Equities research analysts predict that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Announces Dividend

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

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 100,000 shares of Apple 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 completion of the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction 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 of the company’s stock, valued at $39,542,136.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chris Kondo sold 5,178 shares of Apple 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 completion of the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,884 shares of company stock worth $23,723,887. Corporate 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.