Arista Wealth Management LLC Has $7.58 Million Position in Apple Inc. (NASDAQ:AAPL)

Arista Wealth Management LLC grew its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 193.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,995 shares of the iPhone maker’s stock after acquiring an additional 23,708 shares during the period. Apple accounts for approximately 2.0% of Arista Wealth Management LLC’s investment portfolio, making the stock its 11th biggest holding. Arista Wealth Management LLC’s holdings in Apple were worth $7,581,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Nkcfo LLC grew its holdings in Apple by 4.4% during the 2nd quarter. Nkcfo LLC now owns 55,650 shares of the iPhone maker’s stock worth $11,721,000 after acquiring an additional 2,350 shares during the period. TPG Advisors LLC acquired a new stake in shares of Apple in the 2nd quarter valued at about $5,540,000. Summit Trail Advisors LLC grew its stake in shares of Apple by 5.4% in the 2nd quarter. Summit Trail Advisors LLC now owns 287,178 shares of the iPhone maker’s stock valued at $60,485,000 after buying an additional 14,638 shares during the period. Investidor Profissional Gestao de Recursos Ltda. acquired a new stake in shares of Apple in the 2nd quarter valued at about $540,000. Finally, Thrivent Financial for Lutherans grew its stake in shares of Apple by 15.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 5,351,307 shares of the iPhone maker’s stock valued at $1,126,885,000 after buying an additional 703,306 shares during the period. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several research reports. Raymond James raised their target price on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. New Street Research restated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research note on Wednesday, September 25th. Cfra raised their price target on shares of Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Citigroup raised their price target on shares of Apple to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $245.00 price target on shares of Apple in a research report on Monday, September 9th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.51.

Apple Stock Down 0.1 %

Apple stock opened at $226.96 on Friday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49. The firm has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 37.33, a P/E/G ratio of 2.18 and a beta of 1.24. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The firm has a 50 day simple moving average of $226.82 and a 200 day simple moving average of $214.03.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same period in the previous year, the business earned $1.46 EPS. Apple’s revenue was up 6.1% compared to the same quarter last year. On average, analysts predict that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple’s dividend payout ratio is 16.45%.

Insider Activity at Apple

In other news, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the transaction, the senior vice president now directly owns 187,043 shares in the company, valued at $42,309,126.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the transaction, the senior vice president now owns 187,043 shares of the company’s stock, valued at $42,309,126.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 412,746 shares of company stock worth $93,021,362. Corporate insiders own 0.06% of the company’s stock.

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.