Udine Wealth Management Inc. Raises Holdings in Apple Inc. $AAPL

Udine Wealth Management Inc. grew its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,214 shares of the iPhone maker’s stock after purchasing an additional 1,825 shares during the quarter. Apple makes up 8.4% of Udine Wealth Management Inc.’s portfolio, making the stock its 3rd largest holding. Udine Wealth Management Inc.’s holdings in Apple were worth $14,201,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ryan Investment Management Inc. bought a new position in shares of Apple in the second quarter valued at about $31,000. ROSS JOHNSON & Associates LLC grew its stake in 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 buying an additional 180 shares during the last quarter. Elite Financial Inc. acquired a new position in Apple in the 1st quarter valued at about $58,000. LSV Asset Management bought a new position in Apple in the 4th quarter valued at about $65,000. Finally, HFM Investment Advisors LLC acquired a new stake in Apple during the first quarter worth approximately $99,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Trading Down 0.5%

AAPL opened at $268.47 on Friday. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $277.32. The company has a 50-day simple moving average of $252.25 and a 200 day simple moving average of $224.54. 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 stock has a market capitalization of $3.98 trillion, a price-to-earnings ratio of 40.74, a P/E/G ratio of 2.62 and a beta of 1.08.

Apple (NASDAQ:AAPL) last released its earnings results 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 firm had revenue of $102.47 billion for the quarter, compared to analyst estimates of $101.65 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the firm earned $1.64 EPS. Analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

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

Analyst Ratings Changes

AAPL has been the topic of several research reports. HSBC set a $220.00 target price on Apple and gave the stock a “hold” rating in a research note on Monday, September 8th. DA Davidson upped their price objective on Apple from $250.00 to $270.00 and gave the company a “neutral” rating in a report on Friday, October 31st. CLSA raised Apple to a “strong-buy” rating in a report on Sunday, October 5th. UBS Group upped their price target on shares of Apple from $220.00 to $280.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Finally, Jefferies Financial Group raised shares of Apple from an “underperform” rating to a “hold” rating and raised their price target for the stock from $203.07 to $246.99 in a research report on Friday, October 31st. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $278.22.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O’brien sold 43,013 shares of the firm’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. This trade represents a 23.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the transaction, the senior vice president owned 179,158 shares in the company, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 224,300 shares of company stock valued at $57,586,933 over the last ninety days. Company insiders own 0.06% of the company’s stock.

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.