Moran Wealth Management LLC Has $13.43 Million Holdings in Apple Inc. $AAPL

Moran Wealth Management LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 10.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 52,920 shares of the iPhone maker’s stock after acquiring an additional 5,174 shares during the period. Moran Wealth Management LLC’s holdings in Apple were worth $13,431,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of AAPL. Lifetime Wealth Management P.C. bought a new stake in Apple during the 4th quarter valued at approximately $41,000. ROSS JOHNSON & Associates LLC boosted its stake in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after buying an additional 180 shares in the last quarter. LSV Asset Management bought a new stake in Apple in the fourth quarter valued at about $65,000. Timmons Wealth Management LLC bought a new stake in shares of Apple in the 4th quarter valued at approximately $69,000. Finally, Inspire Investing LLC bought a new stake in Apple in the fourth quarter valued at $76,000. 67.73% of the stock is owned by institutional investors.

Apple Price Performance

Shares of NASDAQ AAPL opened at $327.50 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. The business has a 50-day moving average of $301.89 and a 200-day moving average of $276.27. The stock has a market capitalization of $4.81 trillion, a price-to-earnings ratio of 39.60, a PEG ratio of 2.74 and a beta of 1.10. Apple Inc. has a fifty-two week low of $201.50 and a fifty-two week high of $328.73.

Apple (NASDAQ:AAPLGet Free Report) last announced its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. The company had revenue of $111.18 billion for the quarter, compared to analysts’ expectations of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.65 EPS. As a group, sell-side analysts predict that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were paid a $0.27 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, May 11th. Apple’s dividend payout ratio is currently 13.06%.

Analysts Set New Price Targets

AAPL has been the subject of several recent analyst reports. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Apple in a report on Monday, June 8th. Morgan Stanley reissued an “overweight” rating on shares of Apple in a report on Friday, June 26th. UBS Group set a $250.00 price target on Apple in a research report on Tuesday. Wells Fargo & Company reissued an “overweight” rating and set a $310.00 price objective (up from $300.00) on shares of Apple in a research note on Friday, May 1st. Finally, BNP Paribas Exane raised Apple from a “neutral” rating to an “outperform” rating and set a $300.00 target price for the company in a research note on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.26.

Check Out Our Latest Stock Analysis on AAPL

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

Insiders Place Their Bets

In related news, insider Ben Borders sold 116 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the sale, the insider owned 38,713 shares in the company, valued at approximately $11,425,754.82. This represents a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevan Parekh sold 1,534 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total transaction of $421,850.00. Following the sale, the chief financial officer owned 13,366 shares of the company’s stock, valued at approximately $3,675,650. This represents a 10.30% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 2,924 shares of company stock worth $825,546. 0.06% of the stock is owned by company insiders.

Apple Company Profile

(Free Report)

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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