Private Wealth Management Group LLC Has $10.32 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Private Wealth Management Group LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 134.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 41,214 shares of the iPhone maker’s stock after buying an additional 23,638 shares during the quarter. Apple comprises approximately 4.0% of Private Wealth Management Group LLC’s investment portfolio, making the stock its 10th largest holding. Private Wealth Management Group LLC’s holdings in Apple were worth $10,321,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AAPL. Drystone LLC bought a new position in Apple during the fourth quarter worth $25,000. Bull Oak Capital LLC raised its position in shares of Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after acquiring an additional 111 shares in the last quarter. SPX Gestao de Recursos Ltda acquired a new position in shares of Apple in the 3rd quarter valued at about $71,000. Teachers Insurance & Annuity Association of America bought a new stake in shares of Apple during the 3rd quarter valued at about $77,000. Finally, ARK Investment Management LLC acquired a new stake in Apple during the third quarter worth approximately $110,000. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

AAPL has been the subject of a number of research reports. Jefferies Financial Group reaffirmed an “underperform” rating on shares of Apple in a research note on Wednesday, February 19th. Argus raised Apple to a “strong-buy” rating in a research report on Friday, January 31st. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price target on shares of Apple in a report on Friday. Monness Crespi & Hardt boosted their price objective on Apple to $245.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Finally, Redburn Partners set a $230.00 target price on Apple in a report on Friday, January 31st. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $245.26.

Insider Buying and Selling

In other news, CEO Timothy D. Cook sold 108,136 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the transaction, the chief executive officer now directly owns 3,280,295 shares of the company’s stock, valued at approximately $733,637,976.75. This trade represents a 3.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the transaction, the chief operating officer now owns 390,059 shares of the company’s stock, valued at $87,377,116.59. This trade represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 182,451 shares of company stock worth $40,818,720 in the last three months. 0.06% of the stock is owned by insiders.

Apple Trading Down 7.3 %

NASDAQ AAPL opened at $188.38 on Monday. The stock has a market cap of $2.83 trillion, a P/E ratio of 29.90, a PEG ratio of 2.44 and a beta of 1.26. The company’s fifty day simple moving average is $229.45 and its 200-day simple moving average is $233.16. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. Apple Inc. has a 52 week low of $164.08 and a 52 week high of $260.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Equities research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.53%. Apple’s dividend payout ratio is currently 15.87%.

Apple 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.