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Apple Inc. (NASDAQ:AAPL) Stock Position Raised by PRW Wealth Management LLC

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PRW Wealth Management LLC increased its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 6.2% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 27,266 shares of the iPhone maker’s stock after purchasing an additional 1,582 shares during the quarter. Apple makes up about 2.1% of PRW Wealth Management LLC’s investment portfolio, making the stock its 8th largest position. PRW Wealth Management LLC’s holdings in Apple were worth $4,761,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Daniels&Tansey LLP raised its position in shares of Apple by 1.6% during the 4th quarter. Daniels&Tansey LLP now owns 3,858 shares of the iPhone maker’s stock valued at $685,000 after buying an additional 60 shares in the last quarter. Donald L. Hagan LLC grew its holdings in Apple by 0.3% during the 1st quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock valued at $3,181,000 after purchasing an additional 61 shares during the last quarter. Goodwin Daniel L grew its holdings in Apple by 0.5% during the 1st quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock valued at $2,230,000 after purchasing an additional 62 shares during the last quarter. Opus Capital Group LLC grew its holdings in Apple by 0.3% during the 1st quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock valued at $3,332,000 after purchasing an additional 63 shares during the last quarter. Finally, Norwood Financial Corp grew its holdings in Apple by 0.9% during the 1st quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock valued at $1,227,000 after purchasing an additional 65 shares during the last quarter. 57.98% of the stock is currently owned by hedge funds and other institutional investors.

Apple Trading Up 3.8 %

NASDAQ AAPL opened at $166.13 on Thursday. The company has a fifty day simple moving average of $145.58 and a two-hundred day simple moving average of $157.20. The stock has a market cap of $2.69 trillion, a P/E ratio of 27.41, a P/E/G ratio of 2.09 and a beta of 1.23. Apple Inc. has a 12-month low of $129.04 and a 12-month high of $182.94. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63.

Apple (NASDAQ:AAPLGet Rating) last issued its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The firm had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. During the same quarter last year, the company posted $1.30 earnings per share. The firm’s revenue was up 1.9% compared to the same quarter last year. On average, analysts forecast that Apple Inc. will post 6.11 earnings per share for the current year.

Apple declared that its Board of Directors has initiated a stock buyback program on Thursday, April 28th that allows the company to buyback $90.00 billion in shares. This buyback authorization allows the iPhone maker to reacquire up to 3.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Monday, August 8th will be issued a dividend of $0.23 per share. The ex-dividend date is Friday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 0.55%. Apple’s dividend payout ratio (DPR) is presently 15.18%.

Analysts Set New Price Targets

Several equities analysts recently commented on AAPL shares. set a $175.00 price target on shares of Apple in a report on Friday, July 29th. Wells Fargo & Company cut their price target on shares of Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, July 20th. Raymond James cut their price target on shares of Apple from $190.00 to $185.00 and set a “maintains” rating on the stock in a report on Friday, July 29th. Deutsche Bank Aktiengesellschaft set a $175.00 target price on shares of Apple in a research note on Monday. Finally, UBS Group set a $185.00 target price on shares of Apple in a research note on Thursday, July 21st. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $179.21.

About Apple

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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.

See Also

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPLGet Rating).

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