Prospect Financial Group LLC Has $2.09 Million Stock Holdings in Apple Inc. $AAPL

Key Points

• Prospect Financial Group LLC increased its holdings in Apple Inc. by 12.9% in the first quarter, owning 9,398 shares valued at approximately $2.1 million.
• Several large investors, including Caliber Wealth Management LLC and Denver PWM LLC, also made significant changes to their Apple positions during the first quarter.
• Apple's stock recently reached $239.78, with analysts maintaining positive ratings and suggesting a consensus target price of $239.05.

Prospect Financial Group LLC grew its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 12.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,398 shares of the iPhone maker's stock after purchasing an additional 1,072 shares during the period. Apple makes up approximately 2.7% of Prospect Financial Group LLC's holdings, making the stock its 11th largest holding. Prospect Financial Group LLC's holdings in Apple were worth $2,088,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of AAPL. Advanced Portfolio Management LLC grew its stake in Apple by 0.3% in the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock worth $3,260,000 after acquiring an additional 47 shares in the last quarter. Salus Financial Advisors LLC grew its position in Apple by 3.9% during the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker's stock valued at $291,000 after buying an additional 49 shares during the period. Disciplined Investments LLC grew its position in shares of Apple by 0.7% in the fourth quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker's stock valued at $1,794,000 after purchasing an additional 51 shares during the period. Sharpepoint LLC raised its stake in Apple by 3.5% during the first quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker's stock worth $322,000 after purchasing an additional 51 shares during the period. Finally, Redwood Financial Network Corp raised its stake in shares of Apple by 0.6% in the 4th quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker's stock valued at $2,184,000 after acquiring an additional 53 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wedbush restated an "outperform" rating and issued a $270.00 target price on shares of Apple in a report on Wednesday. Monness Crespi & Hardt raised their target price on shares of Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Moffett Nathanson raised shares of Apple from a "sell" rating to a "neutral" rating and set a $225.00 price target on the stock in a research note on Thursday. Rosenblatt Securities restated a "neutral" rating and issued a $217.00 price target on shares of Apple in a research note on Tuesday, July 29th. Finally, JPMorgan Chase & Co. upped their price target on shares of Apple from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $239.05.

Insider Buying and Selling

In related news, SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the transaction, the senior vice president directly owned 136,687 shares of the company's stock, valued at $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Apple Stock Down 0.0%

NASDAQ:AAPL traded down $0.09 during mid-day trading on Friday, reaching $239.69. The stock had a trading volume of 54,829,143 shares, compared to its average volume of 47,688,568. The business's 50 day moving average is $219.28 and its 200 day moving average is $212.86. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The stock has a market cap of $3.56 trillion, a P/E ratio of 36.37, a PEG ratio of 2.50 and a beta of 1.11. 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 announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. The firm had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company's revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.40 earnings per share. As a group, sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were given 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 15.78%.

Apple 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.