Twele Capital Management Inc. Invests $253,000 in Apple Inc. (NASDAQ:AAPL)

Twele Capital Management Inc. bought a new position in shares of Apple Inc. (NASDAQ:AAPL) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,202 shares of the iPhone maker’s stock, valued at approximately $253,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tilia Fiduciary Partners Inc. grew its position in Apple by 2.9% in the second quarter. Tilia Fiduciary Partners Inc. now owns 31,160 shares of the iPhone maker’s stock valued at $6,563,000 after acquiring an additional 866 shares in the last quarter. Gunderson Capital Management Inc. grew its position in Apple by 7.0% in the second quarter. Gunderson Capital Management Inc. now owns 4,662 shares of the iPhone maker’s stock valued at $982,000 after acquiring an additional 305 shares in the last quarter. Whitcomb & Hess Inc. grew its position in Apple by 1.7% in the second quarter. Whitcomb & Hess Inc. now owns 3,540 shares of the iPhone maker’s stock valued at $746,000 after acquiring an additional 59 shares in the last quarter. Worth Asset Management LLC grew its position in Apple by 0.8% in the second quarter. Worth Asset Management LLC now owns 19,185 shares of the iPhone maker’s stock valued at $4,041,000 after acquiring an additional 143 shares in the last quarter. Finally, Ellenbecker Investment Group grew its position in Apple by 0.4% in the second quarter. Ellenbecker Investment Group now owns 36,816 shares of the iPhone maker’s stock valued at $7,754,000 after acquiring an additional 155 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Trading Down 0.3 %

Shares of NASDAQ AAPL opened at $229.00 on Friday. Apple Inc. has a one year low of $164.07 and a one year high of $237.23. The firm has a market capitalization of $3.51 trillion, a PE ratio of 35.61, a PEG ratio of 2.60 and a beta of 1.24. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The business has a 50-day moving average price of $221.88 and a two-hundred day moving average price of $195.77.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.06. The business had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. Apple had a return on equity of 145.35% and a net margin of 26.44%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.26 EPS. As a group, analysts predict that Apple Inc. will post 6.61 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s dividend payout ratio is 15.55%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AAPL shares. Needham & Company LLC reissued a “buy” rating and set a $260.00 price target on shares of Apple in a research report on Monday, August 5th. Piper Sandler reiterated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research note on Tuesday, August 27th. Evercore ISI reiterated an “outperform” rating and issued a $250.00 target price on shares of Apple in a research note on Tuesday, August 27th. Canaccord Genuity Group raised their target price on Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Saturday, May 4th. Finally, DA Davidson upgraded Apple from a “neutral” rating to a “buy” rating and raised their target price for the company from $200.00 to $230.00 in a research note on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $237.30.

Insider Activity

In related news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of 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 SEC, which can be accessed through the SEC website. Also, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the transaction, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The disclosure for this sale can be found here. Insiders sold a total of 113,884 shares of company stock worth $23,723,887 in the last three months. 0.06% of the stock is owned by insiders.

Apple 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.