PBMares Wealth Management LLC Increases Holdings in Apple Inc. (NASDAQ:AAPL)

PBMares Wealth Management LLC boosted its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 1.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 38,760 shares of the iPhone maker’s stock after buying an additional 424 shares during the period. Apple comprises about 2.3% of PBMares Wealth Management LLC’s investment portfolio, making the stock its 11th largest holding. PBMares Wealth Management LLC’s holdings in Apple were worth $5,357,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AAPL. Bluestem Financial Advisors LLC increased its holdings in Apple by 5,935.2% during the second quarter. Bluestem Financial Advisors LLC now owns 233,803 shares of the iPhone maker’s stock valued at $35,000 after buying an additional 229,929 shares during the period. HBC Financial Services PLLC increased its holdings in shares of Apple by 21.7% in the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after acquiring an additional 80 shares during the period. Ramsey Quantitative Systems bought a new position in shares of Apple in the 2nd quarter worth $55,000. Morgan Dempsey Capital Management LLC purchased a new stake in shares of Apple during the 3rd quarter worth $55,000. Finally, Newfound Research LLC purchased a new position in Apple in the third quarter valued at about $67,000. 57.60% of the stock is currently owned by hedge funds and other institutional investors.

Apple Trading Up 2.4 %

Shares of Apple stock opened at $141.11 on Tuesday. The firm has a 50-day simple moving average of $138.57 and a two-hundred day simple moving average of $148.14. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.85 and a current ratio of 0.88. Apple Inc. has a fifty-two week low of $124.17 and a fifty-two week high of $179.61. The company has a market cap of $2.23 trillion, a P/E ratio of 23.09, a price-to-earnings-growth ratio of 1.78 and a beta of 1.24.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. The company had revenue of $90.15 billion for the quarter, compared to the consensus estimate of $88.77 billion. Apple had a return on equity of 160.90% and a net margin of 25.31%. Apple’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.24 earnings per share. As a group, equities analysts predict that Apple Inc. will post 6.19 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend was Friday, November 4th. Apple’s payout ratio is 15.06%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $170.00 price target on shares of Apple in a report on Tuesday, November 8th. Citigroup reaffirmed a “buy” rating and issued a $175.00 price target on shares of Apple in a report on Tuesday, November 8th. Rosenblatt Securities decreased their price objective on Apple from $189.00 to $165.00 and set a “buy” rating for the company in a report on Friday, January 13th. Bank of America dropped their target price on Apple from $160.00 to $154.00 and set a “neutral” rating on the stock in a research note on Monday, November 7th. Finally, StockNews.com cut Apple from a “buy” rating to a “hold” rating in a research note on Saturday, November 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $166.44.

Insider Activity

In related news, CFO Luca Maestri sold 176,299 shares of the firm’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $155.95, for a total value of $27,493,829.05. Following the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $17,259,454.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Chris Kondo sold 20,200 shares of the stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total value of $3,004,144.00. Following the completion of the transaction, the insider now directly owns 31,505 shares of the company’s stock, valued at approximately $4,685,423.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Luca Maestri sold 176,299 shares of Apple stock in a transaction on Friday, October 28th. The stock was sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $17,259,454.35. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Apple 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; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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