PRW Wealth Management LLC Grows Stock Holdings in Apple Inc. (NASDAQ:AAPL)

PRW Wealth Management LLC raised its stake in Apple Inc. (NASDAQ:AAPL) by 17.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,844 shares of the iPhone maker’s stock after buying an additional 3,884 shares during the period. Apple comprises 1.7% of PRW Wealth Management LLC’s holdings, making the stock its 12th biggest holding. PRW Wealth Management LLC’s holdings in Apple were worth $5,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in AAPL. Atlantic Private Wealth LLC bought a new position in shares of Apple during the 1st quarter worth approximately $30,000. Summit Wealth Group LLC lifted its position in Apple by 16,252.3% during the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 6,949,659 shares during the last quarter. HBC Financial Services PLLC lifted its position in Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after acquiring an additional 80 shares during the last quarter. Clear Perspectives Financial Planning LLC lifted its position in Apple by 27.3% during the first quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock valued at $172,000 after acquiring an additional 211 shares during the last quarter. Finally, Magellan Asset Management Ltd lifted its position in Apple by 10.6% during the second quarter. Magellan Asset Management Ltd now owns 1,323 shares of the iPhone maker’s stock valued at $181,000 after acquiring an additional 127 shares during the last quarter. 58.51% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Up 0.9 %

Shares of NASDAQ AAPL opened at $191.45 on Tuesday. The company’s 50-day simple moving average is $177.15 and its 200-day simple moving average is $181.03. Apple Inc. has a 52-week low of $124.17 and a 52-week high of $198.23. The firm has a market cap of $2.98 trillion, a price-to-earnings ratio of 31.28, a price-to-earnings-growth ratio of 2.60 and a beta of 1.30. The company has a quick ratio of 0.94, a current ratio of 0.99 and a debt-to-equity ratio of 1.53.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, November 2nd. The iPhone maker reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.07. Apple had a net margin of 25.31% and a return on equity of 160.78%. The business had revenue of $89.50 billion for the quarter, compared to analyst estimates of $89.34 billion. During the same quarter last year, the business earned $1.29 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. Equities analysts predict that Apple Inc. will post 6.56 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Monday, November 13th were given a $0.24 dividend. The ex-dividend date of this dividend was Friday, November 10th. This represents a $0.96 annualized dividend and a dividend yield of 0.50%. Apple’s dividend payout ratio (DPR) is 15.69%.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 123,448 shares of the business’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $188.79, for a total transaction of $23,305,747.92. Following the transaction, the senior vice president now directly owns 293,266 shares in the company, valued at $55,365,688.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Katherine L. Adams sold 123,448 shares of the business’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $188.79, for a total transaction of $23,305,747.92. Following the transaction, the senior vice president now directly owns 293,266 shares in the company, valued at $55,365,688.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Deirdre O’brien sold 65,536 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $172.11, for a total transaction of $11,279,400.96. Following the transaction, the senior vice president now owns 136,445 shares in the company, valued at $23,483,548.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 567,839 shares of company stock worth $100,675,794. 0.06% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on AAPL. Citigroup reissued a “buy” rating and set a $240.00 target price on shares of Apple in a research report on Friday, August 4th. StockNews.com began coverage on shares of Apple in a report on Thursday, October 5th. They issued a “hold” rating for the company. Piper Sandler raised their price target on shares of Apple from $180.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, July 31st. Evercore ISI reaffirmed an “outperform” rating and issued a $210.00 price target on shares of Apple in a report on Thursday, September 28th. Finally, Jefferies Financial Group decreased their price target on shares of Apple from $220.00 to $195.00 and set a “buy” rating for the company in a report on Tuesday, October 31st. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $198.25.

Apple Company 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.