Pioneer Wealth Management Group acquired a new stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,539 shares of the iPhone maker's stock, valued at approximately $316,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ryan Investment Management Inc. acquired a new stake in shares of Apple in the 2nd quarter valued at $31,000. ROSS JOHNSON & Associates LLC increased its stake 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 valued at $42,000 after acquiring an additional 180 shares during the last quarter. Life Planning Partners Inc bought a new stake in shares of Apple in the 4th quarter valued at about $47,000. Elite Financial Inc. bought a new position in Apple in the first quarter valued at approximately $58,000. Finally, Conquis Financial LLC bought a new position in shares of Apple during the 4th quarter worth approximately $63,000. Institutional investors own 67.73% of the company's stock.
Insider Transactions at Apple
In other Apple news, SVP Deirdre O'brien sold 34,821 shares of Apple stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the transaction, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. This trade represents a 20.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.06% of the company's stock.
Apple Price Performance
Shares of Apple stock opened at $255.46 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The firm has a market cap of $3.79 trillion, a PE ratio of 38.76, a P/E/G ratio of 2.65 and a beta of 1.11. The business has a 50-day moving average price of $228.87 and a 200 day moving average price of $213.20.
Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same quarter in the previous year, the company earned $1.40 EPS. The business's revenue for the quarter was up 9.6% compared to the same quarter last year. Sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were given a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple's dividend payout ratio is currently 15.78%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on AAPL shares. The Goldman Sachs Group reissued a "buy" rating and set a $266.00 target price on shares of Apple in a report on Tuesday, August 26th. Wedbush set a $310.00 target price on Apple and gave the stock an "outperform" rating in a research report on Monday, September 22nd. Barclays increased their price target on Apple from $173.00 to $180.00 and gave the stock an "underweight" rating in a research note on Friday, August 1st. Monness Crespi & Hardt raised their price target on Apple from $245.00 to $270.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, Citigroup reissued a "buy" rating on shares of Apple in a report on Wednesday, September 10th. Two 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 given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $245.66.
Check Out Our Latest Report on AAPL
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Apple, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Apple wasn't on the list.
While Apple currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
