Shira Ridge Wealth Management Has $6.10 Million Stock Position in Apple Inc. $AAPL

Shira Ridge Wealth Management decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,751 shares of the iPhone maker’s stock after selling 281 shares during the quarter. Apple makes up approximately 2.8% of Shira Ridge Wealth Management’s holdings, making the stock its 10th largest holding. Shira Ridge Wealth Management’s holdings in Apple were worth $6,104,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in AAPL. ROSS JOHNSON & Associates LLC grew its position in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after buying an additional 180 shares during the period. Conquis Financial LLC acquired a new position in Apple in the fourth quarter valued at approximately $63,000. LSV Asset Management bought a new position in Apple in the fourth quarter valued at approximately $65,000. Elite Financial Inc. bought a new position in Apple in the first quarter valued at approximately $58,000. Finally, HFM Investment Advisors LLC acquired a new stake in Apple during the 1st quarter worth $99,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple

In related news, SVP Deirdre O’brien sold 34,821 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the transaction, the senior vice president directly owned 136,687 shares in the company, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Apple Stock Up 1.8%

Apple stock opened at $256.87 on Friday. The company has a 50 day moving average of $227.98 and a 200-day moving average of $212.99. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The stock has a market capitalization of $3.81 trillion, a PE ratio of 38.98, a price-to-earnings-growth ratio of 2.62 and a beta of 1.11.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the business posted $1.40 earnings per share. On average, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple’s payout ratio is 15.78%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Apple from $255.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, September 19th. HSBC set a $220.00 target price on Apple and gave the company a “hold” rating in a research note on Monday, September 8th. Phillip Securities lowered Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 target price for the company. in a research report on Thursday, September 11th. Tigress Financial increased their price target on shares of Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a research report on Wednesday, September 17th. Finally, Bank of America lifted their price objective on shares of Apple from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $244.66.

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.