PFG Private Wealth Management LLC Has $1.46 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Oct 7th, 2023

PFG Private Wealth Management LLC cut its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 1.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,546 shares of the iPhone maker’s stock after selling 98 shares during the quarter. Apple comprises approximately 0.9% of PFG Private Wealth Management LLC’s holdings, making the stock its 18th largest position. PFG Private Wealth Management LLC’s holdings in Apple were worth $1,464,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Atlantic Private Wealth LLC acquired a new stake in shares of Apple in the first quarter worth $30,000. Summit Wealth Group LLC lifted its stake 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 worth $42,000 after buying an additional 6,949,659 shares during the last quarter. HBC Financial Services PLLC lifted its stake 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 worth $49,000 after buying an additional 80 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Apple by 12.6% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,103 shares of the iPhone maker’s stock worth $143,000 after buying an additional 123 shares during the last quarter. Finally, EMC Capital Management lifted its stake in shares of Apple by 60.5% in the fourth quarter. EMC Capital Management now owns 1,327 shares of the iPhone maker’s stock worth $172,000 after buying an additional 500 shares during the last quarter. 58.51% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Up 1.5 %

Shares of NASDAQ AAPL opened at $177.49 on Friday. The firm’s 50-day simple moving average is $179.26 and its 200 day simple moving average is $177.61. The company has a market cap of $2.77 trillion, a price-to-earnings ratio of 29.83, a price-to-earnings-growth ratio of 2.33 and a beta of 1.28. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.63. Apple Inc. has a 12-month low of $124.17 and a 12-month high of $198.23.

Apple (NASDAQ:AAPL – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.07. The business had revenue of $81.80 billion for the quarter, compared to the consensus estimate of $81.79 billion. Apple had a net margin of 24.68% and a return on equity of 164.92%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 EPS. On average, research analysts expect that Apple Inc. will post 6.05 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.96 dividend on an annualized basis and a yield of 0.54%. Apple’s payout ratio is presently 16.13%.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of analyst reports. Citigroup restated a “buy” rating and issued a $240.00 price objective on shares of Apple in a research note on Friday, August 4th. Raymond James boosted their target price on shares of Apple from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Barclays reaffirmed an “equal weight” rating and set a $167.00 target price on shares of Apple in a research report on Tuesday, September 19th. Sanford C. Bernstein boosted their target price on shares of Apple from $175.00 to $195.00 and gave the stock a “market perform” rating in a research report on Thursday, July 27th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $215.00 target price on shares of Apple in a research report on Monday, September 25th. Nine research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.54.

Get Our Latest Report on Apple

Insider Buying and Selling at Apple

In other Apple news, SVP Deirdre O’brien sold 15,419 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $178.56, for a total transaction of $2,753,216.64. Following the transaction, the senior vice president now directly owns 136,445 shares in the company, valued at approximately $24,363,619.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Timothy D. Cook sold 240,569 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total value of $41,498,152.50. Following the completion of the sale, the chief executive officer now directly owns 3,280,053 shares of the company’s stock, valued at approximately $565,809,142.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Deirdre O’brien sold 15,419 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $178.56, for a total value of $2,753,216.64. Following the completion of the sale, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at $24,363,619.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 321,524 shares of company stock worth $55,530,770. Company insiders own 0.06% of the company’s stock.

About Apple

(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.