Daymark Wealth Partners LLC Increases Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Daymark Wealth Partners LLC raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 10.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 907,902 shares of the iPhone maker’s stock after acquiring an additional 84,076 shares during the quarter. Apple makes up about 6.9% of Daymark Wealth Partners LLC’s portfolio, making the stock its biggest position. Daymark Wealth Partners LLC’s holdings in Apple were worth $191,222,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of AAPL. Access Investment Management LLC purchased a new stake in shares of Apple during the 1st quarter valued at $140,000. Hoese & Co LLP lifted its holdings in shares of Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 57 shares during the last quarter. Sage Financial Group Inc. purchased a new stake in shares of Apple during the 2nd quarter valued at $206,000. Benchmark Wealth Management LLC purchased a new stake in shares of Apple during the 2nd quarter valued at $208,000. Finally, SMH Capital Advisors Inc. purchased a new stake in shares of Apple during the 2nd quarter valued at $209,000. Institutional investors own 60.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Monness Crespi & Hardt reiterated a “buy” rating and set a $245.00 price objective on shares of Apple in a report on Monday, September 9th. Melius Research reiterated a “buy” rating and set a $265.00 price objective on shares of Apple in a report on Tuesday, August 27th. Oppenheimer restated a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. Raymond James raised their target price on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Moffett Nathanson initiated coverage on Apple in a research note on Monday, August 19th. They issued a “neutral” rating and a $211.00 target price for the company. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average target price of $235.51.

Apple Trading Up 0.4 %

Shares of Apple stock opened at $225.12 on Thursday. The stock has a market cap of $3.40 trillion, a P/E ratio of 37.03, a P/E/G ratio of 2.20 and a beta of 1.24. The stock’s 50 day simple moving average is $226.75 and its 200-day simple moving average is $215.45. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49. 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 (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate 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 business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.46 EPS. Analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 404,040 shares of company stock worth $91,062,512 in the last ninety days. 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.