Evergreen Private Wealth LLC Has $5.50 Million Stock Position in Apple Inc. $AAPL

Evergreen Private Wealth LLC raised its position in Apple Inc. (NASDAQ:AAPL) by 4.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,797 shares of the iPhone maker’s stock after acquiring an additional 1,218 shares during the period. Apple comprises approximately 2.3% of Evergreen Private Wealth LLC’s holdings, making the stock its 15th largest holding. Evergreen Private Wealth LLC’s holdings in Apple were worth $5,498,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Ryan Investment Management Inc. acquired a new position in shares of Apple in the 2nd quarter worth approximately $31,000. ROSS JOHNSON & Associates LLC raised its holdings in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after buying an additional 180 shares in the last quarter. Elite Financial Inc. acquired a new position in shares of Apple in the 1st quarter worth approximately $58,000. LSV Asset Management acquired a new position in shares of Apple in the 4th quarter worth approximately $65,000. Finally, HFM Investment Advisors LLC acquired a new position in shares of Apple in the 1st quarter worth approximately $99,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Bank of America raised their price target on Apple from $260.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Jefferies Financial Group cut Apple from a “hold” rating to an “underperform” rating and dropped their price target for the company from $205.82 to $205.16 in a report on Friday, October 3rd. Barclays raised their price target on Apple from $173.00 to $180.00 and gave the company an “underweight” rating in a report on Friday, August 1st. Tigress Financial raised their price target on Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 17th. Finally, Melius Research set a $290.00 price target on Apple and gave the company a “buy” rating in a report on Wednesday, September 10th. Four analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $248.29.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O’brien sold 43,013 shares of Apple stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the transaction, the senior vice president directly owned 136,687 shares in the company, valued at approximately $35,181,866.93. The trade was a 23.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the transaction, the senior vice president owned 179,158 shares in the company, valued at approximately $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 254,922 shares of company stock worth $64,320,190. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

AAPL stock opened at $245.27 on Friday. The business’s 50-day moving average price is $237.61 and its two-hundred day moving average price is $215.92. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The firm has a market cap of $3.64 trillion, a PE ratio of 37.22, a P/E/G ratio of 2.47 and a beta of 1.09. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10.

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

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a dividend of $0.26 per share. The ex-dividend date 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%.

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.