Elite Wealth Management Inc. Acquires 1,875 Shares of Apple Inc. (AAPL)

Elite Wealth Management Inc. increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 5.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,509 shares of the iPhone maker’s stock after acquiring an additional 1,875 shares during the quarter. Apple makes up about 2.5% of Elite Wealth Management Inc.’s holdings, making the stock its 4th largest position. Elite Wealth Management Inc.’s holdings in Apple were worth $7,128,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Delphi Private Advisors LLC bought a new stake in shares of Apple in the second quarter valued at $120,000. Quattro Financial Advisors LLC bought a new stake in shares of Apple in the first quarter valued at $133,000. CX Institutional bought a new stake in shares of Apple in the second quarter valued at $135,000. Gainplan LLC bought a new stake in shares of Apple in the first quarter valued at $200,000. Finally, Chessman Wealth Strategies RIA bought a new stake in shares of Apple in the first quarter valued at $205,000. Institutional investors and hedge funds own 57.14% of the company’s stock.

Apple stock opened at $168.49 on Friday. Apple Inc. has a 52 week low of $150.24 and a 52 week high of $233.47. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.12 and a quick ratio of 1.09. The stock has a market cap of $868.46 billion, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 1.27 and a beta of 1.20.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, November 1st. The iPhone maker reported $2.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.78 by $0.13. Apple had a return on equity of 48.68% and a net margin of 22.41%. The business had revenue of $62.90 billion during the quarter, compared to analysts’ expectations of $61.55 billion. During the same period in the previous year, the business earned $2.07 earnings per share. The firm’s revenue was up 19.6% on a year-over-year basis. As a group, equities research analysts predict that Apple Inc. will post 13.32 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Monday, November 12th were given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Thursday, November 8th. Apple’s payout ratio is 24.52%.

In related news, insider Chris Kondo sold 3,408 shares of the business’s stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $190.00, for a total transaction of $647,520.00. Following the completion of the transaction, the insider now directly owns 8,940 shares in the company, valued at $1,698,600. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Angela J. Ahrendts sold 25,000 shares of the business’s stock in a transaction dated Wednesday, October 3rd. The stock was sold at an average price of $232.66, for a total value of $5,816,500.00. Following the transaction, the senior vice president now owns 105,538 shares of the company’s stock, valued at $24,554,471.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 204,845 shares of company stock valued at $47,015,677. 0.08% of the stock is owned by company insiders.

Several analysts have issued reports on the company. ValuEngine lowered Apple from a “buy” rating to a “hold” rating in a research note on Wednesday, November 21st. Bank of America restated a “neutral” rating and issued a $220.00 target price on shares of Apple in a research note on Wednesday, November 21st. Rosenblatt Securities set a $200.00 target price on Apple and gave the company a “hold” rating in a research note on Wednesday, November 21st. Nomura set a $185.00 target price on Apple and gave the company a “neutral” rating in a research note on Wednesday, November 21st. Finally, UBS Group restated a “buy” rating and issued a $225.00 target price on shares of Apple in a research note on Tuesday, November 27th. Four equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $219.95.

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Apple Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

Read More: Why is the ex-dividend date different from the record date?

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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