Proactive Wealth Strategies LLC acquired a new stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 20,662 shares of the iPhone maker's stock, valued at approximately $4,814,000. Apple accounts for 2.7% of Proactive Wealth Strategies LLC's portfolio, making the stock its 5th biggest holding.
Other hedge funds also recently bought and sold shares of the company. High Net Worth Advisory Group LLC raised its stake in shares of Apple by 1.7% during the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker's stock valued at $14,916,000 after acquiring an additional 1,066 shares in the last quarter. Granite Investment Partners LLC raised its position in Apple by 2.7% during the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker's stock valued at $60,958,000 after purchasing an additional 7,606 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of Apple by 1.8% in the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker's stock worth $1,473,224,000 after buying an additional 126,210 shares during the period. Sterling Investment Counsel LLC grew its position in shares of Apple by 3.8% during the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker's stock worth $16,269,000 after buying an additional 2,565 shares in the last quarter. Finally, Silicon Valley Capital Partners increased its stake in shares of Apple by 12.8% during the third quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker's stock valued at $59,122,000 after buying an additional 28,799 shares during the period. Institutional investors own 67.73% of the company's stock.
Apple Stock Performance
Shares of AAPL stock traded up $1.72 during trading hours on Monday, hitting $229.98. The company's stock had a trading volume of 68,239,505 shares, compared to its average volume of 41,481,172. The stock has a market cap of $3.48 trillion, a PE ratio of 37.83, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $260.10. The company has a 50 day moving average of $241.01 and a 200 day moving average of $230.79. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.
Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm's revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.46 earnings per share. On average, sell-side analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal year.
Apple Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.43%. The ex-dividend date was Friday, November 8th. Apple's dividend payout ratio (DPR) is 16.45%.
Insider Activity at Apple
In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares of the company's stock, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chris Kondo sold 4,130 shares of the company's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares of the company's stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.
Analysts Set New Price Targets
Several brokerages have issued reports on AAPL. Morgan Stanley reiterated an "overweight" rating and set a $273.00 target price on shares of Apple in a report on Friday, December 13th. Loop Capital dropped their price objective on shares of Apple from $300.00 to $275.00 and set a "buy" rating on the stock in a research note on Monday, November 4th. Jefferies Financial Group downgraded shares of Apple from a "buy" rating to a "hold" rating and boosted their price objective for the stock from $205.00 to $212.92 in a research note on Monday, October 7th. Maxim Group increased their target price on Apple from $203.00 to $215.00 and gave the company a "hold" rating in a research report on Friday, November 1st. Finally, Citigroup boosted their price target on Apple to $185.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $239.85.
Read Our Latest Analysis on AAPL
Apple Company Profile
(
Free Report)
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.
See Also
Before you consider Apple, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Apple wasn't on the list.
While Apple currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
