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

PBMares Wealth Management LLC increased its stake in Apple Inc. (NASDAQ:AAPL) by 1.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,812 shares of the iPhone maker’s stock after purchasing an additional 547 shares during the quarter. Apple accounts for 2.3% of PBMares Wealth Management LLC’s portfolio, making the stock its 11th largest position. PBMares Wealth Management LLC’s holdings in Apple were worth $7,665,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in AAPL. Turtle Creek Wealth Advisors LLC bought a new position in shares of Apple during the 4th quarter valued at $9,208,000. Windmill Hill Asset Management Ltd bought a new position in Apple in the fourth quarter valued at about $339,000. White Pine Investment CO boosted its position in Apple by 2.4% in the fourth quarter. White Pine Investment CO now owns 45,630 shares of the iPhone maker’s stock worth $8,785,000 after purchasing an additional 1,090 shares during the last quarter. Dearborn Partners LLC grew its stake in shares of Apple by 1.2% during the 4th quarter. Dearborn Partners LLC now owns 766,306 shares of the iPhone maker’s stock valued at $147,537,000 after purchasing an additional 9,392 shares during the period. Finally, Bernardo Wealth Planning LLC increased its position in shares of Apple by 1.5% during the 4th quarter. Bernardo Wealth Planning LLC now owns 37,750 shares of the iPhone maker’s stock valued at $7,268,000 after purchasing an additional 568 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on AAPL. Barclays boosted their target price on shares of Apple from $158.00 to $164.00 and gave the company an “underweight” rating in a research report on Friday. Bank of America upped their price objective on Apple from $225.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday. UBS Group reiterated a “hold” rating and set a $190.00 target price on shares of Apple in a research report on Monday, March 25th. Sanford C. Bernstein upgraded Apple from a “market perform” rating to an “outperform” rating and set a $195.00 price target for the company in a research report on Monday, April 29th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Apple in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $204.00.

Insider Buying and Selling

In other news, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the transaction, the director now owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the completion of the sale, the senior vice president now owns 136,572 shares in the company, valued at approximately $23,068,376.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the completion of the transaction, the director now owns 4,434,576 shares in the company, valued at $802,392,181.44. The disclosure for this sale can be found here. Insiders have sold 366,271 shares of company stock valued at $63,653,887 in the last ninety days. 0.06% of the stock is owned by company insiders.

Apple Stock Up 6.0 %

Shares of NASDAQ:AAPL opened at $183.38 on Friday. The company has a market cap of $2.83 trillion, a price-to-earnings ratio of 28.52, a PEG ratio of 2.09 and a beta of 1.26. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $199.62. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28. The company has a 50-day moving average price of $172.17 and a 200 day moving average price of $181.60.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.02. The business had revenue of $90.75 billion during the quarter, compared to analyst estimates of $90.37 billion. Apple had a return on equity of 153.25% and a net margin of 26.31%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period last year, the company earned $1.52 EPS. As a group, equities research analysts predict that Apple Inc. will post 6.53 earnings per share for the current year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 13th will be given a dividend of $0.25 per share. This is a boost from Apple’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.55%. Apple’s payout ratio is 14.93%.

Apple announced that its Board of Directors has initiated a share repurchase plan on Thursday, May 2nd that permits the company to repurchase $110.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Apple Company 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.