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Private Wealth Management Group LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 3.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,264 shares of the iPhone maker’s stock after purchasing an additional 570 shares during the period. Apple accounts for about 1.5% of Private Wealth Management Group LLC’s investment portfolio, making the stock its 15th biggest holding. Private Wealth Management Group LLC’s holdings in Apple were worth $3,303,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Flagstone Financial Management increased its holdings in Apple by 0.9% in the 4th quarter. Flagstone Financial Management now owns 6,092 shares of the iPhone maker’s stock valued at $1,173,000 after buying an additional 56 shares during the period. High Pines Wealth Management LLC increased its stake in Apple by 0.7% in the fourth quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock valued at $1,638,000 after acquiring an additional 58 shares during the last quarter. Asset Planning Corporation raised its position in Apple by 1.0% during the fourth quarter. Asset Planning Corporation now owns 6,135 shares of the iPhone maker’s stock valued at $1,181,000 after purchasing an additional 59 shares in the last quarter. Columbus Macro LLC lifted its stake in Apple by 0.5% during the fourth quarter. Columbus Macro LLC now owns 11,224 shares of the iPhone maker’s stock worth $2,120,000 after purchasing an additional 59 shares during the last quarter. Finally, Stableford Capital II LLC boosted its holdings in shares of Apple by 0.3% in the 1st quarter. Stableford Capital II LLC now owns 17,156 shares of the iPhone maker’s stock valued at $2,942,000 after purchasing an additional 59 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors.
Insider Activity
In other news, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the sale, the director now directly owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Chris Kondo sold 4,999 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total transaction of $951,809.60. Following the transaction, the insider now directly owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arthur D. Levinson sold 75,000 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the transaction, the director now owns 4,359,576 shares in the company, valued at $835,207,570.08. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have recently commented on the company. Maxim Group boosted their price target on Apple from $178.00 to $195.00 and gave the stock a “hold” rating in a report on Tuesday, June 25th. Morgan Stanley boosted their target price on Apple from $216.00 to $273.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Cfra raised their price target on shares of Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Loop Capital upgraded shares of Apple from a “hold” rating to a “buy” rating and upped their price objective for the stock from $170.00 to $300.00 in a research report on Monday, July 15th. Finally, Oppenheimer raised their target price on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $225.69.
View Our Latest Analysis on Apple
Apple Trading Up 0.1 %
NASDAQ AAPL opened at $224.31 on Monday. The stock has a market capitalization of $3.44 trillion, a P/E ratio of 34.88, a P/E/G ratio of 2.73 and a beta of 1.24. The business has a 50 day simple moving average of $207.64 and a 200 day simple moving average of $188.84. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99. Apple Inc. has a one year low of $164.07 and a one year high of $237.23.
Apple (NASDAQ:AAPL – Get Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The firm had revenue of $90.75 billion for the quarter, compared to analysts’ expectations of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.52 EPS. Research analysts expect that Apple Inc. will post 6.59 earnings per share for the current year.
Apple declared that its board has authorized a stock buyback program on Thursday, May 2nd that allows the company to buyback $110.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
Apple Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. This is a boost from Apple’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, May 10th. Apple’s dividend payout ratio (DPR) is presently 15.55%.
Apple Profile
(Free Report)
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.
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