Nova R Wealth Inc. Buys 595 Shares of Apple Inc. (NASDAQ:AAPL)

Nova R Wealth Inc. lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,104 shares of the iPhone maker’s stock after purchasing an additional 595 shares during the period. Apple comprises 3.9% of Nova R Wealth Inc.’s investment portfolio, making the stock its 9th biggest position. Nova R Wealth Inc.’s holdings in Apple were worth $7,946,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. Swedbank AB acquired a new stake in Apple in the 1st quarter valued at about $3,026,492,000. Strategic Financial Concepts LLC increased its holdings in shares of Apple by 14,145.8% in the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after purchasing an additional 7,558,826 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in Apple by 158.3% during the first quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock worth $1,977,582,000 after buying an additional 7,067,379 shares in the last quarter. Lazard Asset Management LLC boosted its stake in Apple by 161.2% during the first quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock worth $1,502,068,000 after buying an additional 5,405,542 shares during the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in Apple in the 2nd quarter valued at $834,368,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AAPL. Moffett Nathanson dropped their price objective on shares of Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a report on Tuesday, November 19th. Rosenblatt Securities increased their price target on shares of Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, November 1st. New Street Research reaffirmed a “neutral” rating and set a $225.00 price target on shares of Apple in a research report on Wednesday, September 25th. UBS Group reiterated a “neutral” rating and issued a $236.00 price objective on shares of Apple in a research report on Monday. Finally, Evercore ISI restated a “buy” rating and issued a $250.00 target price on shares of Apple in a research report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $235.68.

Apple Trading Up 0.0 %

Shares of AAPL opened at $243.04 on Friday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $244.54. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $3.67 trillion, a P/E ratio of 39.97, a PEG ratio of 2.38 and a beta of 1.23. The firm’s 50-day moving average is $230.23 and its two-hundred day moving average is $221.05.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.46 EPS. On average, research analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. Apple’s dividend payout ratio is presently 16.45%.

Insider Activity at Apple

In other news, insider Chris Kondo sold 4,130 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the transaction, the chief operating officer now owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This represents a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 408,170 shares of company stock valued at $92,007,745. Insiders own 0.06% of the company’s stock.

About Apple

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.