Signature Wealth Management Group Increases Share Holdings in Apple Inc. (NASDAQ:AAPL)

VaselineSeptember 8, 2024

0 5 minutes read

Signature Wealth Management Group raised its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 4.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,129 shares of the iPhone maker’s stock after purchasing an additional 386 shares during the quarter. Signature Wealth Management Group’s holdings in Apple were worth $1,923,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Apple by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock worth $253,766,929,000 after acquiring an additional 18,067,216 shares during the period. Norges Bank acquired a new stake in Apple in the 4th quarter valued at approximately $33,912,466,000. Wellington Management Group LLP boosted its holdings in Apple by 3.6% in the 4th quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock valued at $11,677,190,000 after buying an additional 2,096,360 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Apple by 2.0% during the 4th quarter. Fisher Asset Management LLC now owns 54,702,300 shares of the iPhone maker’s stock worth $10,531,834,000 after bought an additional 1,067,587 shares in the last quarter. Finally, Capital International Investors boosted its stake in Apple by 7.1% in the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after buying an additional 2,474,887 shares during the last quarter. 60.41% of the shares are owned by institutional investors and hedge funds.

Apple’s price performance

Shares of AAPL opened at $220.82 on Friday. The firm has a market cap of $3.39 trillion, a P/E ratio of 34.34, a price-to-earnings-growth ratio of 2.69 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91, and a current ratio of 0.95. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.23. The stock has a 50-day simple moving average of $223.09 and a 200-day simple moving average of $197.26.

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Apple (NASDAQ:AAPL – Get Free Report ) last issued its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. In the same quarter last year, the company earned $1.26 per share. Apple’s revenue for the quarter was up 4.9% year over year. On average, equities analysts predict that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple announces dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a $0.25 dividend. The ex-dividend date was Monday, August 12. This represents a dividend of $1.00 on an annualized basis and a yield of 0.45%. Apple’s dividend payout ratio is currently 15.55%.

Insider buying and selling at Apple

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred 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 in the company, valued at approximately $39,542,136.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the company’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 completion of the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a filing with the SEC, which is available via this hyperlink. Also, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The disclosure for this sale can be found here. Insiders have sold a total of 113,884 shares of company stock worth $23,723,887 over the last ninety days. Insiders own 0.06% of the company’s shares.

Analysts on Wall Street are forecasting an increase

A number of brokerages recently weighed in on AAPL. Evercore ISI reaffirmed an “outperform” rating and set a $250.00 price objective on shares of Apple in a report on Tuesday, August 27th. DA Davidson upgraded shares of Apple from a “neutral” rating to a “buy” rating and upped their target price for the company from $200.00 to $230.00 in a report on Tuesday, June 11th. Robert W. Baird boosted their price objective on shares of Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Tigress Financial boosted their target price on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Apple from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. Apple has an average rating of “Moderate Buy” and a consensus price target of $238.62, according to MarketBeat.com.

Check out our latest analysis of AAPL

About Apple

(Free report)

Apple Inc designs, manufactures and markets smartphones, personal computers, tablets, wearable devices and accessories worldwide. The company offers the iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multifunction tablets; and wearables, home and accessories including AirPods, Apple TV, Apple Watch, Beats products and HomePod.