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Apple Inc. (NASDAQ:AAPL) Stock Holdings Lifted by PBMares Wealth Management LLC

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PBMares Wealth Management LLC grew its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 11.2% in the 1st quarter, Holdings reports. The firm owned 37,351 shares of the iPhone maker’s stock after purchasing an additional 3,775 shares during the quarter. Apple makes up approximately 4.0% of PBMares Wealth Management LLC’s investment portfolio, making the stock its 5th largest position. PBMares Wealth Management LLC’s holdings in Apple were worth $6,522,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Joseph Group Capital Management bought a new position in Apple in the fourth quarter worth approximately $1,631,000. Cardinal Capital Management Inc. increased its stake in shares of Apple by 5,525.0% in the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after purchasing an additional 221 shares in the last quarter. Shore Point Advisors LLC bought a new position in Apple in the 4th quarter worth $41,000. St. James Investment Advisors LLC purchased a new position in Apple during the fourth quarter valued at $57,000. Finally, Econ Financial Services Corp bought a new stake in Apple during the fourth quarter valued at about $58,000. Institutional investors own 57.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AAPL. Oppenheimer reaffirmed an “outperform” rating and set a $190.00 price objective on shares of Apple in a research report on Wednesday, June 8th. Deutsche Bank Rese… set a $210.00 price target on shares of Apple in a report on Friday, April 8th. Piper Sandler reduced their price objective on shares of Apple from $200.00 to $195.00 in a research note on Friday, April 29th. Rosenblatt Securities lowered their target price on shares of Apple from $184.00 to $168.00 and set a “neutral” rating on the stock in a research note on Monday, May 2nd. Finally, Evercore ISI cut their price target on Apple from $210.00 to $180.00 and set an “outperform” rating for the company in a research note on Tuesday, June 28th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $179.64.

Apple Stock Performance

Shares of Apple stock opened at $156.79 on Thursday. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94. The company has a market capitalization of $2.54 trillion, a PE ratio of 25.45, a price-to-earnings-growth ratio of 1.98 and a beta of 1.19. The stock’s fifty day moving average is $143.41 and its two-hundred day moving average is $157.62. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 1.53.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.09. Apple had a net margin of 26.41% and a return on equity of 152.88%. The firm had revenue of $97.28 billion for the quarter, compared to analysts’ expectations of $93.99 billion. During the same period in the prior year, the business posted $1.40 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, analysts expect that Apple Inc. will post 6.09 earnings per share for the current year.

Apple declared that its board has initiated a share repurchase program on Thursday, April 28th that permits the company to buyback $90.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $161.72, for a total value of $4,043,000.00. Following the completion of the sale, the senior vice president now owns 452,334 shares in the company, valued at $73,151,454.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.06% of the company’s stock.

Apple Company 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; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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