Inman Jager Wealth Management LLC Has $1.87 Million Stake in Apple Inc. $AAPL

Inman Jager Wealth Management LLC increased its stake in Apple Inc. (NASDAQ:AAPL) by 2.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,094 shares of the iPhone maker’s stock after acquiring an additional 227 shares during the quarter. Apple accounts for approximately 1.3% of Inman Jager Wealth Management LLC’s portfolio, making the stock its 22nd largest position. Inman Jager Wealth Management LLC’s holdings in Apple were worth $1,866,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Apple by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker’s stock valued at $311,157,662,000 after buying an additional 5,005,297 shares during the period. Kingstone Capital Partners Texas LLC raised its stake in Apple by 573,627.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock worth $39,065,374,000 after buying an additional 205,656,808 shares during the period. Northern Trust Corp boosted its holdings in Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after acquiring an additional 20,079,472 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Apple by 14.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock worth $26,220,566,000 after acquiring an additional 13,137,968 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Apple by 1.0% in the first quarter. Goldman Sachs Group Inc. now owns 98,099,909 shares of the iPhone maker’s stock valued at $21,790,933,000 after acquiring an additional 984,157 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the sale, the senior vice president directly owned 179,158 shares in the company, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Timothy D. Cook sold 129,963 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. This represents a 3.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 224,300 shares of company stock valued at $57,586,933. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ AAPL opened at $268.47 on Friday. The company has a fifty day moving average price of $252.25 and a 200-day moving average price of $224.54. The firm has a market cap of $3.98 trillion, a price-to-earnings ratio of 40.74, a PEG ratio of 2.62 and a beta of 1.08. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $277.32.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.11. The business had revenue of $102.47 billion for the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.64 earnings per share. As a group, equities research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Monday, November 10th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio is currently 13.92%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AAPL. TD Cowen upped their target price on Apple from $275.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. DA Davidson boosted their price target on shares of Apple from $250.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Wedbush restated an “outperform” rating on shares of Apple in a report on Tuesday, October 21st. JPMorgan Chase & Co. raised their price objective on shares of Apple from $290.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Finally, Sanford C. Bernstein set a $325.00 price objective on shares of Apple in a report on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $278.22.

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.