Apple Inc. (NASDAQ:AAPL) Holdings Lifted by Castle Rock Wealth Management LLC

Castle Rock Wealth Management LLC increased its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 5.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,187 shares of the iPhone maker’s stock after purchasing an additional 3,238 shares during the period. Apple accounts for 4.8% of Castle Rock Wealth Management LLC’s holdings, making the stock its biggest holding. Castle Rock Wealth Management LLC’s holdings in Apple were worth $10,410,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Elk River Wealth Management LLC increased its stake in Apple by 49.0% in the 1st quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock worth $29,181,000 after acquiring an additional 54,989 shares during the last quarter. Piscataqua Savings Bank increased its stake in Apple by 1.5% in the 1st quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock worth $8,302,000 after acquiring an additional 684 shares during the last quarter. Fountainhead AM LLC increased its stake in Apple by 11.6% in the 4th quarter. Fountainhead AM LLC now owns 45,544 shares of the iPhone maker’s stock worth $7,732,000 after acquiring an additional 4,738 shares during the last quarter. Primoris Wealth Advisors LLC bought a new stake in Apple in the 4th quarter worth approximately $4,282,000. Finally, Red Door Wealth Management LLC increased its stake in Apple by 3.3% in the 1st quarter. Red Door Wealth Management LLC now owns 96,983 shares of the iPhone maker’s stock worth $16,934,000 after acquiring an additional 3,087 shares during the last quarter. Institutional investors own 57.98% of the company’s stock.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the transaction, the senior vice president now directly owns 452,334 shares of the company’s stock, valued at approximately $73,151,454.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AAPL. Oppenheimer reaffirmed an “outperform” rating and issued a $190.00 price objective on shares of Apple in a research note on Wednesday, June 8th. Credit Suisse Group set a $169.00 target price on Apple in a research report on Friday, April 29th. Fundamental Research cut their target price on Apple from $179.32 to $175.24 and set an “average” rating on the stock in a research report on Friday, May 6th. StockNews.com assumed coverage on Apple in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Rosenblatt Securities cut their target price on Apple from $184.00 to $168.00 and set a “neutral” rating on the stock in a research report on Monday, May 2nd. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $182.73.

Apple Trading Down 0.8 %

Shares of NASDAQ AAPL opened at $154.09 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.93 and a quick ratio of 0.88. The stock has a market capitalization of $2.49 trillion, a P/E ratio of 25.01, a price-to-earnings-growth ratio of 1.98 and a beta of 1.19. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The business has a fifty day moving average price of $142.90 and a 200 day moving average price of $158.03.

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

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

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 12th. Investors of record on Monday, May 9th were given a dividend of $0.23 per share. This is a positive change from Apple’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend was Friday, May 6th. Apple’s dividend payout ratio is currently 14.94%.

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.

See Also

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