Innova Wealth Partners Grows Position in Apple Inc. (NASDAQ:AAPL)

Innova Wealth Partners increased its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 13.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,292 shares of the iPhone maker’s stock after purchasing an additional 1,090 shares during the period. Apple accounts for about 1.1% of Innova Wealth Partners’ portfolio, making the stock its 10th largest position. Innova Wealth Partners’ holdings in Apple were worth $1,270,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Apple by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after purchasing an additional 8,734,393 shares in the last quarter. State Street Corp boosted its stake in Apple by 1.8% in the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after purchasing an additional 10,951,705 shares in the last quarter. Geode Capital Management LLC boosted its stake in Apple by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock worth $46,812,958,000 after purchasing an additional 4,456,954 shares in the last quarter. Norges Bank acquired a new stake in Apple in the 4th quarter worth approximately $25,228,507,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Apple by 1.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock worth $14,097,970,000 after purchasing an additional 1,155,915 shares in the last quarter. 57.72% of the stock is currently owned by institutional investors and hedge funds.

Apple Price Performance

Shares of NASDAQ AAPL opened at $152.74 on Friday. Apple Inc. has a one year low of $129.04 and a one year high of $182.94. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. The firm has a fifty day moving average of $160.31 and a 200 day moving average of $155.83. The firm has a market cap of $2.45 trillion, a PE ratio of 25.20, a PEG ratio of 2.03 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last announced its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The company had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. During the same quarter in the previous year, the company posted $1.30 EPS. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, research analysts predict that Apple Inc. will post 6.11 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, August 5th. This represents a $0.92 annualized dividend and a yield of 0.60%. Apple’s dividend payout ratio (DPR) is presently 15.18%.

Analyst Ratings Changes

A number of research firms have issued reports on AAPL. Credit Suisse Group set a $201.00 price target on shares of Apple in a research report on Thursday, September 8th. Deutsche Bank Aktiengesellschaft set a $175.00 price target on shares of Apple in a research report on Monday, August 1st. Barclays set a $169.00 price target on shares of Apple in a research report on Wednesday, September 14th. Citigroup raised their price target on shares of Apple from $175.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Finally, Fundamental Research set a $177.07 price target on shares of Apple and gave the stock a “buy” rating in a research report on Thursday, August 4th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.68.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the sale, the senior vice president now owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the transaction, the senior vice president now directly owns 427,334 shares in the company, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

Apple Company Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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