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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 Channel.com 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

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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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