Refined Wealth Management Raises Stock Position in Apple Inc. (NASDAQ:AAPL)

Refined Wealth Management boosted its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,639 shares of the iPhone maker’s stock after acquiring an additional 384 shares during the period. Apple accounts for about 2.1% of Refined Wealth Management’s holdings, making the stock its 14th biggest position. Refined Wealth Management’s holdings in Apple were worth $2,662,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Apple by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after acquiring an additional 18,067,216 shares in the last quarter. Norges Bank purchased a new position in Apple during the fourth quarter valued at approximately $33,912,466,000. Wellington Management Group LLP grew its stake in Apple by 3.6% during the fourth quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock valued at $11,677,190,000 after acquiring an additional 2,096,360 shares in the last quarter. Fisher Asset Management LLC grew its stake in Apple by 2.0% during the fourth quarter. Fisher Asset Management LLC now owns 54,702,300 shares of the iPhone maker’s stock valued at $10,531,834,000 after acquiring an additional 1,067,587 shares in the last quarter. Finally, Capital International Investors grew its stake in Apple by 7.1% during the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock valued at $6,369,852,000 after acquiring an additional 2,474,887 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on AAPL shares. UBS Group boosted their price objective on shares of Apple from $190.00 to $236.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Morgan Stanley reiterated an “overweight” rating and set a $273.00 target price on shares of Apple in a research report on Tuesday, September 10th. Needham & Company LLC reiterated a “buy” rating and set a $260.00 target price on shares of Apple in a research report on Tuesday, September 10th. Piper Sandler reiterated a “neutral” rating and set a $225.00 target price on shares of Apple in a research report on Tuesday, September 10th. Finally, Monness Crespi & Hardt reiterated a “buy” rating and set a $245.00 target price on shares of Apple in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $239.17.

Apple Trading Down 2.8 %

NASDAQ:AAPL opened at $216.32 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The company has a fifty day moving average of $222.91 and a 200 day moving average of $199.00. The firm has a market capitalization of $3.32 trillion, a P/E ratio of 33.64, a P/E/G ratio of 2.62 and a beta of 1.24. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.23.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The business had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.26 EPS. On average, research analysts predict that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s payout ratio is currently 15.55%.

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the sale, 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. In the last ninety days, insiders have sold 113,884 shares of company stock valued at $23,723,887. 0.06% of the stock is currently owned by company insiders.

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.