Palladium Partners LLC Has $164.46 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Palladium Partners LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 2.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 941,885 shares of the iPhone maker’s stock after selling 19,483 shares during the quarter. Apple makes up approximately 7.2% of Palladium Partners LLC’s holdings, making the stock its largest position. Palladium Partners LLC’s holdings in Apple were worth $164,462,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Elk River Wealth Management LLC grew its holdings in Apple by 49.0% in the first quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock worth $29,181,000 after purchasing an additional 54,989 shares during the period. Piscataqua Savings Bank grew its stake in shares of Apple by 1.5% in the 1st quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock worth $8,302,000 after buying an additional 684 shares during the last quarter. Fountainhead AM LLC increased its position in Apple by 11.6% during the 4th quarter. Fountainhead AM LLC now owns 45,544 shares of the iPhone maker’s stock valued at $7,732,000 after buying an additional 4,738 shares in the last quarter. Primoris Wealth Advisors LLC purchased a new position in Apple during the fourth quarter valued at $4,282,000. Finally, Red Door Wealth Management LLC boosted its holdings in Apple by 3.3% in the first quarter. Red Door Wealth Management LLC now owns 96,983 shares of the iPhone maker’s stock worth $16,934,000 after acquiring an additional 3,087 shares in the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.

Apple Trading Up 3.4 %

Shares of Apple stock opened at $156.79 on Thursday. Apple Inc. has a twelve month low of $129.04 and a twelve month high of $182.94. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 1.53. The business has a 50-day moving average price of $143.41 and a 200-day moving average price of $157.62. The firm has a market cap of $2.54 trillion, a price-to-earnings ratio of 25.45, a PEG ratio of 1.98 and a beta of 1.19.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.09. The business had revenue of $97.28 billion during the quarter, compared to analysts’ expectations of $93.99 billion. Apple had a return on equity of 152.88% and a net margin of 26.41%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.40 EPS. Equities research analysts anticipate that Apple Inc. will post 6.09 EPS for the current fiscal year.

Apple announced that its board has authorized a share repurchase program on Thursday, April 28th that allows the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AAPL shares. Deutsche Bank Aktiengesellschaft lowered their price target on Apple from $200.00 to $175.00 in a research report on Tuesday, June 14th. Itau BBA Securities assumed coverage on shares of Apple in a research note on Tuesday. They issued an “underperform” rating and a $136.00 target price on the stock. Rosenblatt Securities reduced their price target on shares of Apple from $184.00 to $168.00 and set a “neutral” rating for the company in a research report on Monday, May 2nd. KeyCorp cut their target price on Apple from $191.00 to $173.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 12th. Finally, Loop Capital decreased their price target on Apple from $210.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, May 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $179.64.

Insider Activity

In related news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total value of $4,043,000.00. Following the sale, the senior vice president now owns 452,334 shares in the company, valued at $73,151,454.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.06% of the company’s stock.

Apple Company Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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