Tower Wealth Partners Inc. Acquires 456 Shares of Apple Inc. $AAPL

Tower Wealth Partners Inc. increased its stake in Apple Inc. (NASDAQ:AAPL) by 4.5% during the 2nd quarter, Holdings Channel reports. The firm owned 10,537 shares of the iPhone maker’s stock after purchasing an additional 456 shares during the quarter. Apple comprises approximately 1.3% of Tower Wealth Partners Inc.’s portfolio, making the stock its 13th biggest holding. Tower Wealth Partners Inc.’s holdings in Apple were worth $2,162,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Avid Wealth Partners LLC increased its holdings in shares of Apple by 28.3% in the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock worth $935,000 after buying an additional 930 shares during the period. Bell & Brown Wealth Advisors LLC boosted its holdings in Apple by 0.4% during the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock valued at $13,772,000 after acquiring an additional 240 shares during the period. American National Bank & Trust grew its position in Apple by 2.4% during the 2nd quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock worth $40,107,000 after acquiring an additional 4,543 shares during the last quarter. Andina Capital Management LLC increased its stake in Apple by 209.2% in the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock worth $1,507,000 after purchasing an additional 4,591 shares during the period. Finally, Plum Street Advisors LLC lifted its position in Apple by 4.0% in the first quarter. Plum Street Advisors LLC now owns 7,889 shares of the iPhone maker’s stock valued at $1,752,000 after purchasing an additional 301 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Bank of America boosted their price objective on shares of Apple from $270.00 to $320.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Barclays increased their price objective on Apple from $180.00 to $230.00 and gave the stock an “underweight” rating in a report on Friday, October 31st. Raymond James Financial reissued an “outperform” rating and set a $240.00 target price (up from $230.00) on shares of Apple in a research note on Friday, August 1st. Seaport Res Ptn raised Apple to a “strong-buy” rating in a research note on Wednesday, October 1st. Finally, Cowen reaffirmed a “buy” rating on shares of Apple in a research note on Monday, October 27th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average price target of $278.22.

Insider Activity at Apple

In related news, insider Chris Kondo sold 3,752 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $271.23, for a total value of $1,017,654.96. Following the sale, the insider owned 15,098 shares in the company, valued at approximately $4,095,030.54. This trade represents a 19.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kevan Parekh sold 4,199 shares of Apple stock in a transaction on Thursday, October 16th. The stock was 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 of the company’s stock, valued at $2,168,373.35. The trade was a 32.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 228,052 shares of company stock valued at $58,604,588 over the last quarter. 0.06% of the stock is owned by company insiders.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $272.95 on Friday. The business has a fifty day moving average price of $255.27 and a 200-day moving average price of $226.41. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The company has a market capitalization of $4.03 trillion, a PE ratio of 41.42, a PEG ratio of 2.62 and a beta of 1.09. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $277.32.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, beating the consensus estimate of $1.74 by $0.11. The company had revenue of $102.47 billion for the quarter, compared to the consensus estimate of $101.65 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. Apple’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. As a group, equities analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 10th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, November 10th. Apple’s payout ratio is presently 13.92%.

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.