Moran Wealth Management LLC Has $7.57 Million Stock Position in Apple Inc. $AAPL

Moran Wealth Management LLC grew its holdings in Apple Inc. (NASDAQ:AAPL) by 7.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,882 shares of the iPhone maker’s stock after purchasing an additional 2,669 shares during the period. Moran Wealth Management LLC’s holdings in Apple were worth $7,567,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. First National Bank of Hutchinson raised its holdings in Apple by 24.6% during the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after acquiring an additional 6,982 shares in the last quarter. Eagle Capital Management LLC increased its position in shares of Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after purchasing an additional 272 shares during the last quarter. Brighton Jones LLC raised its stake in shares of Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after purchasing an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Apple by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock valued at $16,742,000 after buying an additional 2,695 shares during the last quarter. Finally, Highview Capital Management LLC DE grew its stake in shares of Apple by 2.4% in the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock valued at $12,587,000 after buying an additional 1,155 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on AAPL. Sanford C. Bernstein set a $325.00 price target on shares of Apple in a research report on Monday, November 3rd. DA Davidson upped their target price on shares of Apple from $250.00 to $270.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Raymond James Financial reiterated an “outperform” rating and set a $240.00 price target (up previously from $230.00) on shares of Apple in a report on Friday, August 1st. Robert W. Baird set a $300.00 price objective on Apple in a research note on Friday, October 31st. Finally, Bank of America raised their price objective on Apple from $270.00 to $320.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $278.22.

Apple Price Performance

Shares of NASDAQ AAPL opened at $275.25 on Wednesday. The firm has a market cap of $4.07 trillion, a P/E ratio of 41.77, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08. The business’s 50 day moving average is $253.91 and its 200-day moving average is $225.75. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $277.32.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. The firm had revenue of $102.47 billion for the quarter, compared to analyst estimates of $101.65 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.64 EPS. Equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Monday, November 10th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, November 10th. Apple’s dividend payout ratio (DPR) is currently 13.92%.

Insider Buying and Selling at Apple

In other news, CFO Kevan Parekh sold 4,199 shares of Apple stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $247.39, for a total value of $1,038,790.61. Following the completion of the sale, the chief financial officer directly owned 8,765 shares in the company, valued at approximately $2,168,373.35. The trade was a 32.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total value of $33,375,798.03. Following the sale, the chief executive officer directly owned 3,280,295 shares in the company, valued at $842,412,558.95. This represents a 3.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 224,300 shares of company stock worth $57,586,933 over the last quarter. Company 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.