Palumbo Wealth Management LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 3.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,658 shares of the iPhone maker’s stock after acquiring an additional 1,313 shares during the quarter. Apple comprises about 5.3% of Palumbo Wealth Management LLC’s investment portfolio, making the stock its 6th biggest position. Palumbo Wealth Management LLC’s holdings in Apple were worth $8,662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently added to or reduced their stakes in the company. Atlantic Private Wealth LLC purchased a new position in shares of Apple during the first quarter valued at approximately $30,000. Cheyne Capital Management UK LLP boosted its holdings in shares of Apple by 200.0% in the third quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock valued at $212,000 after purchasing an additional 550 shares during the period. HBC Financial Services PLLC boosted 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 period. Clear Perspectives Financial Planning LLC boosted its holdings in shares of Apple by 27.3% in the first quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock valued at $172,000 after purchasing an additional 211 shares during the period. Finally, NNS Holding purchased a new stake in shares of Apple in the second quarter valued at approximately $193,000. 58.51% of the stock is owned by institutional investors.
Analysts Set New Price Targets
AAPL has been the subject of a number of research reports. Evercore ISI reiterated an “outperform” rating and issued a $210.00 price target on shares of Apple in a report on Thursday, September 28th. Morgan Stanley reiterated an “overweight” rating and issued a $210.00 price target on shares of Apple in a report on Friday. UBS Group reiterated a “neutral” rating and issued a $190.00 price target on shares of Apple in a report on Wednesday, September 27th. Robert W. Baird boosted their price target on Apple from $180.00 to $204.00 and gave the company an “outperform” rating in a report on Tuesday, August 1st. Finally, Piper Sandler Companies upped their target price on Apple from $180.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, July 31st. Ten investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $197.82.
Apple Price Performance
NASDAQ AAPL opened at $176.65 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.98 and a quick ratio of 0.92. The stock’s fifty day moving average price is $176.84 and its 200 day moving average price is $179.30. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $198.23. The company has a market cap of $2.76 trillion, a price-to-earnings ratio of 29.69, a PEG ratio of 2.42 and a beta of 1.30.
Apple (NASDAQ:AAPL – Get Free Report) last released its earnings results on Thursday, November 2nd. The iPhone maker reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.07. Apple had a return on equity of 164.92% and a net margin of 24.68%. The firm had revenue of $89.50 billion for the quarter, compared to the consensus estimate of $89.34 billion. During the same period in the prior year, the firm earned $1.29 EPS. The firm’s revenue was down .7% on a year-over-year basis. As a group, equities research analysts forecast that Apple Inc. will post 6.05 earnings per share for the current year.
Apple Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Monday, November 13th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Friday, November 10th. Apple’s payout ratio is 16.13%.
Insider Activity at Apple
In other Apple news, CFO Luca Maestri sold 31,685 shares of the stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $178.69, for a total transaction of $5,661,792.65. Following the sale, the chief financial officer now directly owns 107,661 shares of the company’s stock, valued at approximately $19,237,944.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Apple news, SVP Deirdre O’brien sold 65,536 shares of the stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $172.11, for a total transaction of $11,279,400.96. Following the sale, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at approximately $23,483,548.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Luca Maestri sold 31,685 shares of the stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $178.69, for a total value of $5,661,792.65. Following the sale, the chief financial officer now directly owns 107,661 shares in the company, valued at $19,237,944.09. The disclosure for this sale can be found here. Insiders have sold a total of 455,004 shares of company stock valued at $79,238,767 in the last ninety days. Company insiders own 0.06% of the company’s stock.
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.
Featured Stories
- Five stocks we like better than Apple
- 2 Fintech Stocks to Buy Now and 1 to Avoid
- Shocking uranium play that hedge funds kept hidden
- Overbought Stocks Explained: Should You Trade Them?
- Dependable dividends: Why utility stocks are on fire
- How to Use the MarketBeat Stock Screener
- Realtor verdict, poor revenue guidance send Zillow stock plunging
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL – Free Report).
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.
