Allegiance Financial Group Advisory Services LLC Has $2.83 Million Stake in Apple Inc. (NASDAQ:AAPL)

Allegiance Financial Group Advisory Services LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,692 shares of the iPhone maker’s stock after buying an additional 328 shares during the period. Apple accounts for approximately 1.3% of Allegiance Financial Group Advisory Services LLC’s investment portfolio, making the stock its 20th biggest position. Allegiance Financial Group Advisory Services LLC’s holdings in Apple were worth $2,829,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Atlantic Private Wealth LLC acquired a new position in shares of Apple in the first quarter valued at $30,000. Wyrmwood Management LLC increased its holdings in shares of Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after purchasing an additional 69 shares during the last quarter. Gilfoyle & Co LLC increased its holdings in shares of Apple by 118.0% in the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after purchasing an additional 118 shares during the last quarter. Summit Wealth Group LLC increased its holdings in shares of Apple by 16,252.3% in the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 6,949,659 shares during the last quarter. Finally, HBC Financial Services PLLC increased its holdings in shares of Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Apple

In other news, CFO Luca Maestri sold 53,194 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the completion of the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $18,768,046.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $18,768,046.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total value of $18,094,000.00. Following the sale, the director now owns 4,434,576 shares in the company, valued at $802,392,181.44. The disclosure for this sale can be found here. Insiders sold a total of 366,271 shares of company stock valued at $63,653,887 in the last quarter. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on AAPL. Maxim Group initiated coverage on shares of Apple in a report on Wednesday. They issued a “hold” rating and a $178.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and issued a $220.00 price target on shares of Apple in a research note on Tuesday. JPMorgan Chase & Co. decreased their price target on shares of Apple from $215.00 to $210.00 and set an “overweight” rating on the stock in a research note on Thursday, April 11th. Piper Sandler Companies downgraded shares of Apple to a “neutral” rating and decreased their price target for the company from $220.00 to $205.00 in a research note on Thursday, January 4th. Finally, Morgan Stanley restated an “overweight” rating and issued a $220.00 price target on shares of Apple in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $203.34.

Apple Stock Performance

NASDAQ:AAPL opened at $165.00 on Friday. The company has a market capitalization of $2.55 trillion, a PE ratio of 25.70, a P/E/G ratio of 2.03 and a beta of 1.27. Apple Inc. has a fifty-two week low of $162.80 and a fifty-two week high of $199.62. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.02 and a current ratio of 1.07. The company has a 50 day simple moving average of $174.67 and a two-hundred day simple moving average of $182.04.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, topping the consensus estimate of $2.09 by $0.09. The company had revenue of $119.60 billion during the quarter, compared to the consensus estimate of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.88 EPS. Research analysts anticipate that Apple Inc. will post 6.54 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s dividend payout ratio (DPR) is 14.95%.

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.