Palacios Wealth Management LLC Has $5.88 Million Stock Holdings in Apple Inc. $AAPL

Palacios Wealth Management LLC lifted its stake in Apple Inc. (NASDAQ:AAPL) by 127.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,646 shares of the iPhone maker’s stock after acquiring an additional 16,056 shares during the period. Apple makes up about 4.8% of Palacios Wealth Management LLC’s holdings, making the stock its 3rd largest holding. Palacios Wealth Management LLC’s holdings in Apple were worth $5,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ryan Investment Management Inc. purchased a new stake in shares of Apple in the second quarter worth $31,000. ROSS JOHNSON & Associates LLC increased its holdings in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after buying an additional 180 shares during the period. Conquis Financial LLC purchased a new position in shares of Apple in the fourth quarter worth about $63,000. LSV Asset Management purchased a new position in shares of Apple in the fourth quarter worth about $65,000. Finally, Elite Financial Inc. purchased a new position in shares of Apple in the first quarter worth about $58,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several research firms have recently commented on AAPL. Moffett Nathanson upgraded Apple from a “sell” rating to a “neutral” rating and set a $225.00 price objective on the stock in a report on Thursday, September 4th. Barclays raised their target price on Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a research note on Friday, August 1st. Needham & Company LLC reissued a “hold” rating on shares of Apple in a research note on Friday, July 25th. Evercore ISI set a $290.00 target price on Apple and gave the stock an “outperform” rating in a research note on Friday. Finally, Bank of America raised their target price on Apple from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $245.51.

Apple Stock Performance

Shares of AAPL opened at $254.63 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The business’s 50 day moving average price is $230.51 and its 200-day moving average price is $213.80. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The stock has a market cap of $3.78 trillion, a P/E ratio of 38.64, a P/E/G ratio of 2.64 and a beta of 1.11.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. During the same period in the previous year, the business earned $1.40 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were paid a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis 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.