Linscomb Wealth Inc. Purchases 2,124 Shares of Apple Inc. $AAPL

Linscomb Wealth Inc. increased its position in Apple Inc. (NASDAQ:AAPL) by 1.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 152,193 shares of the iPhone maker’s stock after acquiring an additional 2,124 shares during the quarter. Apple comprises 1.4% of Linscomb Wealth Inc.’s investment portfolio, making the stock its 13th largest holding. Linscomb Wealth Inc.’s holdings in Apple were worth $31,225,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AAPL. Kingstone Capital Partners Texas LLC lifted its stake in shares of Apple by 573,627.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock valued at $39,065,374,000 after buying an additional 205,656,808 shares in the last quarter. Nuveen LLC bought a new stake in Apple during the 1st quarter valued at $17,472,482,000. Northern Trust Corp lifted its position in shares of Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after acquiring an additional 20,079,472 shares in the last quarter. Amundi boosted its holdings in shares of Apple by 27.4% in the first quarter. Amundi now owns 68,190,569 shares of the iPhone maker’s stock worth $13,870,795,000 after acquiring an additional 14,651,321 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Apple by 14.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock valued at $26,220,566,000 after purchasing an additional 13,137,968 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Apple

In other news, CFO Kevan Parekh sold 4,199 shares of the stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the transaction, the chief financial officer directly owned 8,765 shares in the company, valued at approximately $2,168,373.35. This represents a 32.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Deirdre O’brien sold 43,013 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at $35,181,866.93. The trade was a 23.94% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 228,052 shares of company stock worth $58,604,588. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Rosenblatt Securities increased their price objective on Apple from $241.00 to $250.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Morgan Stanley upped their price target on Apple from $298.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Tigress Financial raised their price objective 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. Melius upped their target price on shares of Apple from $290.00 to $345.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, JPMorgan Chase & Co. increased their target price on shares of Apple from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $278.22.

Apple Trading Up 1.5%

Shares of Apple stock opened at $283.10 on Tuesday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $283.42. The firm has a market cap of $4.18 trillion, a PE ratio of 42.96, a PEG ratio of 2.62 and a beta of 1.09. The company has a 50 day simple moving average of $263.81 and a two-hundred day simple moving average of $232.37.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.11. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm had revenue of $102.47 billion for the quarter, compared to analysts’ expectations of $101.65 billion. During the same quarter last year, the company posted $1.64 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis. Analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

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

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.