Shulman DeMeo Asset Management LLC Acquires 88 Shares of Apple Inc. (NASDAQ:AAPL)

Shulman DeMeo Asset Management LLC raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.1% during the third quarter, Holdings Channel reports. The firm owned 70,043 shares of the iPhone maker’s stock after buying an additional 88 shares during the period. Apple comprises 4.0% of Shulman DeMeo Asset Management LLC’s holdings, making the stock its 3rd biggest holding. Shulman DeMeo Asset Management LLC’s holdings in Apple were worth $16,466,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Verus Financial Partners Inc. boosted its holdings in shares of Apple by 0.3% in the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after purchasing an additional 48 shares during the period. Brown Financial Advisory lifted its position in Apple by 3.8% in the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after buying an additional 50 shares during the last quarter. Core Wealth Management Inc. boosted its stake in Apple by 1.7% during the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after buying an additional 50 shares during the period. Lowery Thomas LLC increased its position in Apple by 0.7% during the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock valued at $1,602,000 after acquiring an additional 50 shares during the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. lifted its holdings in shares of Apple by 1.1% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after acquiring an additional 51 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on AAPL. Melius Research reissued a “buy” rating and issued a $265.00 price objective on shares of Apple in a research report on Tuesday, August 27th. Jefferies Financial Group lowered Apple from a “buy” rating to a “hold” rating and raised their price target for the stock from $205.00 to $212.92 in a research note on Monday, October 7th. KeyCorp lowered Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price on the stock. in a research note on Friday, October 25th. UBS Group reissued a “neutral” rating and set a $236.00 target price on shares of Apple in a research note on Monday. Finally, Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $245.00 price target on shares of Apple in a research note on Monday, September 9th. Two equities 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $235.68.

Apple Stock Up 0.0 %

Shares of AAPL stock opened at $243.04 on Friday. The stock’s fifty day moving average price is $230.23 and its 200 day moving average price is $221.05. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $244.54. The company has a market cap of $3.67 trillion, a price-to-earnings ratio of 39.97, a price-to-earnings-growth ratio of 2.38 and a beta of 1.23.

Apple (NASDAQ:AAPL) last issued 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 analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.46 earnings per share. On average, research analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.41%. Apple’s dividend payout ratio is currently 16.45%.

Insider Transactions at Apple

In other news, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the sale, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This represents a 10.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 408,170 shares of company stock worth $92,007,745. Company insiders own 0.06% of the company’s stock.

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.