Precision Wealth Strategies LLC Grows Holdings in Apple Inc. $AAPL

Key Points

• Precision Wealth Strategies LLC increased its holdings in Apple Inc. by 171.6% during the second quarter, owning a total of 11,725 shares valued at approximately $2.4 million.
• Apple's most recent earnings report showed an earnings per share of $1.57 and a revenue of $94.04 billion, exceeding consensus estimates.
• Insider selling activity was notable, with SVP Katherine L. Adams selling 47,125 shares valued over $12 million, resulting in a 20.83% decrease in her ownership.

Precision Wealth Strategies LLC grew its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 171.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,725 shares of the iPhone maker's stock after purchasing an additional 7,408 shares during the period. Precision Wealth Strategies LLC's holdings in Apple were worth $2,406,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ryan Investment Management Inc. purchased a new stake in Apple in the second quarter worth $31,000. ROSS JOHNSON & Associates LLC increased its stake in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after purchasing an additional 180 shares during the period. Elite Financial Inc. purchased a new stake in Apple in the first quarter worth $58,000. LSV Asset Management purchased a new stake in Apple in the fourth quarter worth $65,000. Finally, HFM Investment Advisors LLC purchased a new stake in Apple in the first quarter worth $99,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Price Performance

Shares of AAPL stock opened at $262.24 on Tuesday. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $264.38. The stock's 50-day moving average is $241.83 and its 200 day moving average is $217.42. The company has a market cap of $3.89 trillion, a P/E ratio of 39.79, a PEG ratio of 2.46 and a beta of 1.09. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly 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 business had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company's quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the company earned $1.40 earnings per share. Research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple's dividend payout ratio (DPR) is currently 15.78%.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of the firm's 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 completion of the sale, the senior vice president owned 179,158 shares of the company's stock, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Deirdre O'brien sold 43,013 shares of the firm's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the completion of the sale, the senior vice president directly owned 136,687 shares of the company's stock, valued at approximately $35,181,866.93. This represents a 23.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 259,121 shares of company stock worth $65,358,981 in the last three months. Insiders own 0.06% of the company's stock.

Analyst Ratings Changes

AAPL has been the subject of several recent research reports. CLSA upgraded Apple to a "strong-buy" rating in a report on Sunday, October 5th. Monness Crespi & Hardt upped their price objective on shares of Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research note on Friday, July 25th. Seaport Res Ptn raised shares of Apple to a "strong-buy" rating in a research note on Wednesday, October 1st. Finally, Wedbush set a $310.00 price objective on shares of Apple and gave the stock an "outperform" rating in a research note on Monday, September 22nd. Four analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $251.47.

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.

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