Prestige Wealth Management Group LLC Has $19.64 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Prestige Wealth Management Group LLC cut its position in Apple Inc. (NASDAQ:AAPLFree Report) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,526 shares of the iPhone maker’s stock after selling 2,995 shares during the quarter. Apple comprises approximately 4.2% of Prestige Wealth Management Group LLC’s holdings, making the stock its 6th biggest position. Prestige Wealth Management Group LLC’s holdings in Apple were worth $19,639,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Yeomans Consulting Group Inc. bought a new position in Apple during the fourth quarter worth $1,713,000. Raleigh Capital Management Inc. boosted its position in Apple by 11.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock worth $2,986,000 after purchasing an additional 1,643 shares during the period. Headinvest LLC boosted its position in Apple by 1.7% during the third quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock worth $9,236,000 after purchasing an additional 872 shares during the period. GLOBALT Investments LLC GA bought a new position in Apple during the fourth quarter worth $38,406,000. Finally, Barden Capital Management Inc. boosted its position in Apple by 132.8% during the fourth quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock worth $6,283,000 after purchasing an additional 18,615 shares during the period. 60.41% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 59,162 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $172.22, for a total value of $10,188,879.64. Following the transaction, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $84,378,155.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Luca Maestri sold 53,194 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total value of $9,262,139.28. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $18,768,046.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Jeffrey E. Williams sold 59,162 shares of the stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $172.22, for a total value of $10,188,879.64. Following the completion of the sale, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $84,378,155.68. The disclosure for this sale can be found here. Insiders have sold a total of 192,355 shares of company stock worth $34,771,329 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AAPL shares. Maxim Group boosted their target price on shares of Apple from $178.00 to $195.00 and gave the company a “hold” rating in a research report on Tuesday, June 25th. Loop Capital reduced their target price on shares of Apple from $185.00 to $170.00 and set a “hold” rating for the company in a research report on Monday, April 1st. JPMorgan Chase & Co. boosted their target price on shares of Apple from $225.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, June 18th. Canaccord Genuity Group boosted their target price on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Saturday, May 4th. Finally, Evercore ISI reissued a “buy” rating and issued a $250.00 target price on shares of Apple in a research report on Thursday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $215.71.

Check Out Our Latest Report on AAPL

Apple Price Performance

Apple stock opened at $226.34 on Monday. The stock has a market capitalization of $3.47 trillion, a price-to-earnings ratio of 35.20, a PEG ratio of 2.75 and a beta of 1.24. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $226.45. The stock’s 50 day moving average price is $197.44 and its two-hundred day moving average price is $186.18. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04.

Apple (NASDAQ:AAPLGet 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. On average, equities analysts predict that Apple Inc. will post 6.59 earnings per share for the current year.

Apple announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 2nd that allows the company to buyback $110.00 billion in shares. This buyback authorization allows the iPhone maker to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were issued a $0.25 dividend. This is a boost from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Friday, May 10th. Apple’s dividend payout ratio (DPR) is currently 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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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