Apple Inc. $AAPL Shares Acquired by Sound View Wealth Advisors Group LLC

Sound View Wealth Advisors Group LLC increased its stake in Apple Inc. (NASDAQ:AAPL) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 293,761 shares of the iPhone maker’s stock after purchasing an additional 5,818 shares during the period. Apple accounts for 4.5% of Sound View Wealth Advisors Group LLC’s portfolio, making the stock its largest holding. Sound View Wealth Advisors Group LLC’s holdings in Apple were worth $60,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Ryan Investment Management Inc. bought a new stake in Apple during the 2nd quarter worth about $31,000. ROSS JOHNSON & Associates LLC boosted its stake in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares during the last quarter. Nexus Investment Management ULC grew its position in shares of Apple by 333.3% during the 2nd quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock worth $53,000 after buying an additional 200 shares during the period. Elite Financial Inc. bought a new stake in shares of Apple during the first quarter worth approximately $58,000. Finally, LSV Asset Management acquired a new position in Apple in the fourth quarter valued at approximately $65,000. 67.73% of the stock is currently owned by institutional investors.

Apple Price Performance

NASDAQ AAPL opened at $280.70 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.86 and a current ratio of 0.89. The stock has a market cap of $4.15 trillion, a price-to-earnings ratio of 37.58, a PEG ratio of 2.65 and a beta of 1.10. The business has a 50 day simple moving average of $265.56 and a 200 day simple moving average of $233.58. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $288.62.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. Apple had a net margin of 26.92% and a return on equity of 164.05%. The firm had revenue of $102.47 billion for the quarter, compared to analyst estimates of $101.65 billion. During the same quarter in the previous year, the firm posted $1.64 earnings per share. The business’s revenue was up 8.7% on a year-over-year basis. Analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 10th were issued 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 was Monday, November 10th. Apple’s dividend payout ratio is 13.92%.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the sale, the senior vice president directly owned 179,158 shares in the company, valued at $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Chris Kondo sold 3,752 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $271.23, for a total value of $1,017,654.96. Following the transaction, the insider directly owned 15,098 shares of the company’s stock, valued at $4,095,030.54. This represents a 19.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 228,052 shares of company stock worth $58,604,588. 0.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on AAPL shares. TD Cowen lifted their target price on shares of Apple from $275.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Loop Capital restated a “buy” rating and issued a $325.00 price target (up from $315.00) on shares of Apple in a research report on Tuesday. Cowen reiterated a “buy” rating on shares of Apple in a report on Monday, October 27th. Melius Research set a $345.00 target price on Apple in a research note on Friday, October 31st. Finally, Sanford C. Bernstein set a $325.00 target price on Apple in a research report on Monday, November 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average price target of $278.53.

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.