Pines Wealth Management LLC Has $8.91 Million Stock Position in Apple Inc. $AAPL

Pines Wealth Management LLC grew its stake in Apple Inc. (NASDAQ:AAPL) by 6.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,744 shares of the iPhone maker’s stock after buying an additional 2,616 shares during the period. Apple accounts for about 3.2% of Pines Wealth Management LLC’s holdings, making the stock its 4th biggest holding. Pines Wealth Management LLC’s holdings in Apple were worth $8,914,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in Apple during the fourth quarter worth approximately $46,868,648,000. Nuveen LLC acquired a new stake in Apple during the first quarter worth approximately $17,472,482,000. GAMMA Investing LLC grew its stake in Apple by 25,934.1% during the first quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock worth $133,425,490,000 after purchasing an additional 59,835,676 shares during the period. Vanguard Group Inc. grew its stake in Apple by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker’s stock worth $349,532,608,000 after purchasing an additional 49,168,843 shares during the period. Finally, Northern Trust Corp grew its stake in Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Buying and Selling

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the transaction, the senior vice president directly owned 136,687 shares of the company’s stock, valued at $30,508,538.40. This trade represents a 20.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on AAPL. JPMorgan Chase & Co. raised their price objective on Apple from $255.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Wedbush set a $310.00 price objective on Apple and gave the company an “outperform” rating in a research note on Monday. Monness Crespi & Hardt raised their price objective on Apple from $245.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Raymond James Financial reaffirmed an “outperform” rating and issued a $240.00 price target (up previously from $230.00) on shares of Apple in a research report on Friday, August 1st. Finally, Rosenblatt Securities lifted their price target on Apple from $223.00 to $241.00 and gave the company a “neutral” rating in a research note on Wednesday, September 10th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $244.66.

Apple Stock Down 0.8%

AAPL opened at $252.31 on Thursday. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company’s 50-day moving average price is $227.04 and its two-hundred day moving average price is $212.78. The stock has a market cap of $3.74 trillion, a price-to-earnings ratio of 38.29, a PEG ratio of 2.64 and a beta of 1.11. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. The firm had revenue of $94.04 billion for the quarter, compared to analysts’ expectations of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.40 EPS. As a group, equities analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple’s payout ratio is currently 15.78%.

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.