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Concentrum Wealth Management Increases Stake in Apple Inc. (NASDAQ:AAPL)

Concentrum Wealth Management increased its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 116,876 shares of the iPhone maker’s stock after buying an additional 915 shares during the period. Apple comprises approximately 12.7% of Concentrum Wealth Management’s portfolio, making the stock its 2nd largest position. Concentrum Wealth Management’s holdings in Apple were worth $20,408,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in AAPL. Cardinal Capital Management Inc. boosted its position in Apple by 5,525.0% during the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after buying an additional 221 shares during the period. Shore Point Advisors LLC acquired a new stake in Apple during the 4th quarter worth approximately $41,000. Emerson Wealth LLC lifted its position in shares of Apple by 363.6% in the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after purchasing an additional 320 shares during the period. Econ Financial Services Corp lifted its position in shares of Apple by 29.1% in the 1st quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock worth $74,000 after purchasing an additional 95 shares during the period. Finally, Castle Financial & Retirement Planning Associates Inc. acquired a new position in shares of Apple in the 4th quarter worth approximately $116,000. 57.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. set a $175.00 price target on shares of Apple in a research report on Friday, July 29th. Oppenheimer restated an “outperform” rating and issued a $190.00 price target on shares of Apple in a research report on Wednesday, June 8th. Citigroup boosted their price target on shares of Apple from $175.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Bank of America dropped their price target on shares of Apple from $200.00 to $185.00 in a research report on Tuesday, July 26th. Finally, JPMorgan Chase & Co. set a $200.00 price objective on shares of Apple in a research note on Monday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.18.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the transaction, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the transaction, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at $19,362,241.35. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Apple Stock Performance

NASDAQ AAPL opened at $161.38 on Tuesday. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. The firm has a market cap of $2.59 trillion, a price-to-earnings ratio of 26.63, a PEG ratio of 2.16 and a beta of 1.23. The company has a fifty day moving average price of $155.22 and a 200-day moving average price of $156.98.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The company had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.30 EPS. As a group, equities research analysts predict that Apple Inc. will post 6.1 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Friday, August 5th. Apple’s dividend payout ratio (DPR) is currently 15.18%.

Apple 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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