Angeles Wealth Management LLC Raises Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Angeles Wealth Management LLC boosted its holdings in Apple Inc. (NASDAQ:AAPL) by 2.2% in the 4th quarter, HoldingsChannel reports. The firm owned 129,862 shares of the iPhone maker’s stock after purchasing an additional 2,803 shares during the quarter. Apple makes up approximately 2.7% of Angeles Wealth Management LLC’s portfolio, making the stock its 9th largest holding. Angeles Wealth Management LLC’s holdings in Apple were worth $32,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in AAPL. State Street Corp grew its holdings in Apple by 10.6% during the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock valued at $136,074,372,000 after buying an additional 55,935,105 shares in the last quarter. FMR LLC boosted its position in shares of Apple by 5.3% during the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock valued at $84,779,231,000 after acquiring an additional 18,224,005 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Apple by 6.5% in the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock valued at $77,542,863,000 after purchasing an additional 20,483,787 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Apple by 6.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock worth $22,121,656,000 after purchasing an additional 5,893,741 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after purchasing an additional 93,886,664 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. UBS Group lifted their price objective on shares of Apple to $236.00 and gave the stock a “hold” rating in a research note on Tuesday, February 25th. Moffett Nathanson reiterated a “sell” rating and issued a $188.00 price target (down previously from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Loop Capital downgraded Apple from a “buy” rating to a “hold” rating and set a $230.00 price objective on the stock. in a research report on Tuesday, January 21st. Jefferies Financial Group upgraded Apple from an “underperform” rating to a “hold” rating and dropped their target price for the stock from $202.33 to $167.88 in a report on Wednesday. Finally, Evercore ISI boosted their target price on Apple from $260.00 to $275.00 and gave the company an “outperform” rating in a research report on Tuesday, March 18th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $240.26.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 38,822 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the transaction, the senior vice president now directly owns 179,158 shares of the company’s stock, valued at $40,072,269.86. This represents a 17.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Jeffrey E. Williams sold 35,493 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the sale, the chief operating officer now directly owns 390,059 shares of the company’s stock, valued at approximately $87,377,116.59. This represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 182,451 shares of company stock worth $40,818,720 in the last 90 days. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

Shares of AAPL stock opened at $198.15 on Friday. The company’s 50 day moving average is $222.87 and its 200 day moving average is $231.14. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The firm has a market cap of $2.98 trillion, a price-to-earnings ratio of 31.45, a PEG ratio of 2.44 and a beta of 1.26. Apple Inc. has a 52-week low of $164.08 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, sell-side analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Monday, February 10th. Apple’s payout ratio is currently 15.87%.

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.