Moran Wealth Management LLC Acquires 2,669 Shares of Apple Inc. $AAPL

Moran Wealth Management LLC raised its holdings in Apple Inc. (NASDAQ:AAPL) by 7.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,882 shares of the iPhone maker’s stock after purchasing an additional 2,669 shares during the quarter. Moran Wealth Management LLC’s holdings in Apple were worth $7,567,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in AAPL. First National Bank of Hutchinson lifted its position in shares of 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 purchasing an additional 6,982 shares in the last quarter. Eagle Capital Management LLC increased its holdings in shares of Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after purchasing an additional 272 shares in the last quarter. Brighton Jones LLC raised its position in Apple by 14.8% in 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 during the last quarter. Revolve Wealth Partners LLC lifted its holdings in Apple by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after buying an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE lifted its holdings in Apple by 2.4% during the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after buying an additional 1,155 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the subject of a number of recent research reports. Melius boosted their target price on Apple from $290.00 to $345.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Robert W. Baird set a $300.00 price objective on Apple in a research report on Friday, October 31st. CLSA upgraded shares of Apple to a “strong-buy” rating in a research report on Sunday, October 5th. Evercore ISI raised their target price on shares of Apple from $290.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Finally, Phillip Securities downgraded shares of Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price target for the company. in a research note on Thursday, September 11th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $278.22.

Apple Price Performance

AAPL opened at $275.25 on Wednesday. The stock has a market cap of $4.07 trillion, a P/E ratio of 41.77, a P/E/G ratio of 2.62 and a beta of 1.08. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $277.32. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The company has a fifty day simple moving average of $253.91 and a 200 day simple moving average of $225.75.

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

Apple Announces Dividend

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

Insiders Place Their Bets

In other news, CFO Kevan Parekh sold 4,199 shares of the company’s 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 transaction, the chief financial officer owned 8,765 shares in the company, valued at $2,168,373.35. This represents a 32.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Deirdre O’brien sold 43,013 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the sale, the senior vice president directly owned 136,687 shares of the company’s stock, valued at $35,181,866.93. This represents a 23.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 224,300 shares of company stock valued at $57,586,933 in the last quarter. 0.06% of the stock is owned by company insiders.

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.