PFG Private Wealth Management LLC Boosts Position in Apple Inc. (NASDAQ:AAPL)

PFG Private Wealth Management LLC boosted its position in shares of Apple Inc. (NASDAQ:AAPL) by 21.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,058 shares of the iPhone maker’s stock after acquiring an additional 1,234 shares during the quarter. Apple accounts for 0.9% of PFG Private Wealth Management LLC’s portfolio, making the stock its 18th biggest holding. PFG Private Wealth Management LLC’s holdings in Apple were worth $1,359,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Atlantic Private Wealth LLC bought a new stake in Apple during the first quarter valued at about $30,000. Wyrmwood Management LLC grew its holdings in Apple by 69.0% during the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after purchasing an additional 69 shares during the period. Gilfoyle & Co LLC grew its holdings in Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after purchasing an additional 118 shares during the period. Summit Wealth Group LLC grew its holdings in Apple by 16,252.3% during the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 6,949,659 shares during the period. Finally, HBC Financial Services PLLC grew its holdings in Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares during the period. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Trading Down 1.2 %

Shares of NASDAQ AAPL opened at $165.00 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.02 and a current ratio of 1.07. The business’s 50 day moving average price is $174.67 and its 200-day moving average price is $182.04. Apple Inc. has a fifty-two week low of $162.80 and a fifty-two week high of $199.62. The company has a market cap of $2.55 trillion, a price-to-earnings ratio of 25.70, a PEG ratio of 2.03 and a beta of 1.27.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.09. Apple had a return on equity of 156.04% and a net margin of 26.16%. The firm had revenue of $119.60 billion for the quarter, compared to the consensus estimate of $117.99 billion. During the same period in the prior year, the business posted $1.88 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, sell-side analysts expect that Apple Inc. will post 6.54 earnings per share for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were issued a dividend of $0.24 per share. The ex-dividend date was Friday, February 9th. This represents a $0.96 annualized dividend and a yield of 0.58%. Apple’s payout ratio is currently 14.95%.

Wall Street Analyst Weigh In

Several analysts have issued reports on AAPL shares. Barclays cut their price target on Apple from $160.00 to $158.00 and set an “underweight” rating for the company in a report on Friday, February 2nd. Oppenheimer reissued an “outperform” rating and set a $200.00 price target on shares of Apple in a report on Friday, February 2nd. DZ Bank reissued a “hold” rating and set a $180.00 price target on shares of Apple in a report on Thursday, March 28th. The Goldman Sachs Group upped their price objective on Apple from $223.00 to $232.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Finally, Citigroup reaffirmed a “buy” rating and issued a $225.00 price objective on shares of Apple in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $203.34.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O’brien sold 54,732 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the transaction, the senior vice president now directly owns 136,572 shares in the company, valued at approximately $23,068,376.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the sale, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at approximately $574,260,512.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Deirdre O’brien sold 54,732 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the sale, the senior vice president now directly owns 136,572 shares in the company, valued at approximately $23,068,376.52. The disclosure for this sale can be found here. Insiders have sold 366,271 shares of company stock worth $63,653,887 in the last ninety days. 0.06% of the stock is owned by company insiders.

About Apple

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.