NRI Wealth Management LC Makes New Investment in Apple Inc. (NASDAQ:AAPL)

NRI Wealth Management LC bought a new position in Apple Inc. (NASDAQ:AAPL - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 30,420 shares of the iPhone maker's stock, valued at approximately $6,407,000. Apple accounts for about 5.0% of NRI Wealth Management LC's investment portfolio, making the stock its 6th largest position.

Other hedge funds have also added to or reduced their stakes in the company. Private Management Group Inc. raised its holdings in Apple by 9.4% in the 2nd quarter. Private Management Group Inc. now owns 18,721 shares of the iPhone maker's stock worth $3,943,000 after purchasing an additional 1,612 shares during the period. Stonekeep Investments LLC purchased a new stake in Apple in the second quarter worth about $1,376,000. DDFG Inc raised its stake in shares of Apple by 0.3% in the second quarter. DDFG Inc now owns 27,014 shares of the iPhone maker's stock worth $5,690,000 after buying an additional 79 shares during the period. X Square Capital LLC lifted its position in shares of Apple by 14.1% during the 2nd quarter. X Square Capital LLC now owns 13,629 shares of the iPhone maker's stock valued at $2,871,000 after buying an additional 1,685 shares in the last quarter. Finally, Adapt Wealth Advisors LLC grew its stake in shares of Apple by 25.2% during the 2nd quarter. Adapt Wealth Advisors LLC now owns 6,337 shares of the iPhone maker's stock valued at $1,335,000 after acquiring an additional 1,276 shares during the period. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on AAPL shares. Piper Sandler Companies restated a "neutral" rating and set a $225.00 target price (up previously from $190.00) on shares of Apple in a research note on Tuesday, July 9th. The Goldman Sachs Group raised their price objective on shares of Apple from $265.00 to $275.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Piper Sandler reaffirmed a "neutral" rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, October 9th. Robert W. Baird raised their price target on Apple from $200.00 to $240.00 and gave the company an "outperform" rating in a report on Thursday, July 25th. Finally, Barclays reaffirmed an "underweight" rating and issued a $186.00 price objective on shares of Apple in a research note on Tuesday, October 1st. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Apple has a consensus rating of "Moderate Buy" and a consensus price target of $235.91.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of the firm's stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares of the company's stock, valued at $39,542,136.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Katherine L. Adams sold 100,000 shares of the business's stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares of the company's stock, valued at $39,542,136.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the firm's stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares of the company's stock, valued at $736,269,202.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 517,924 shares of company stock valued at $114,786,399. Corporate insiders own 0.06% of the company's stock.

Apple Trading Up 0.4 %

Shares of AAPL stock traded up $0.84 on Friday, reaching $231.41. 38,802,304 shares of the company's stock were exchanged, compared to its average volume of 59,638,496. The company's fifty day simple moving average is $226.86 and its 200 day simple moving average is $210.06. The stock has a market capitalization of $3.55 trillion, a PE ratio of 35.99, a P/E/G ratio of 2.40 and a beta of 1.24. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.34 by $0.06. The firm had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business's revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.26 earnings per share. As a group, analysts forecast that Apple Inc. will post 6.65 EPS for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Monday, August 12th. Apple's dividend payout ratio is currently 15.55%.

Apple Company 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.