Apple Inc. (NASDAQ:AAPL) is Pacific Wealth Strategies Group Inc.’s Largest Position

Pacific Wealth Strategies Group Inc. increased its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.1% in the first quarter, HoldingsChannel.com reports. The fund owned 143,465 shares of the iPhone maker’s stock after acquiring an additional 112 shares during the period. Apple comprises about 10.5% of Pacific Wealth Strategies Group Inc.’s portfolio, making the stock its largest holding. Pacific Wealth Strategies Group Inc.’s holdings in Apple were worth $25,050,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. S.E.E.D. Planning Group LLC increased its holdings in shares of Apple by 1.1% during the fourth quarter. S.E.E.D. Planning Group LLC now owns 67,401 shares of the iPhone maker’s stock valued at $11,968,000 after acquiring an additional 708 shares in the last quarter. JTC Employer Solutions Trustee Ltd increased its holdings in Apple by 0.7% in the 4th quarter. JTC Employer Solutions Trustee Ltd now owns 101,849 shares of the iPhone maker’s stock worth $18,088,000 after buying an additional 683 shares in the last quarter. Financial Council Asset Management Inc increased its holdings in Apple by 0.5% in the 4th quarter. Financial Council Asset Management Inc now owns 38,065 shares of the iPhone maker’s stock worth $6,759,000 after buying an additional 200 shares in the last quarter. Pennsylvania Capital Management Inc. ADV increased its holdings in Apple by 47.5% in the 4th quarter. Pennsylvania Capital Management Inc. ADV now owns 332,109 shares of the iPhone maker’s stock worth $58,972,000 after buying an additional 106,971 shares in the last quarter. Finally, Baskin Financial Services Inc. increased its holdings in Apple by 0.5% in the 4th quarter. Baskin Financial Services Inc. now owns 488,436 shares of the iPhone maker’s stock worth $86,732,000 after buying an additional 2,337 shares in the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on AAPL. Oppenheimer reiterated an “outperform” rating and issued a $190.00 price objective on shares of Apple in a report on Wednesday, June 8th. Deutsche Bank Rese… set a $210.00 price target on Apple in a research note on Friday, April 8th. JPMorgan Chase & Co. set a $200.00 price target on Apple in a research note on Friday, July 1st. Wells Fargo & Company cut their price target on Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, July 20th. Finally, Sanford C. Bernstein set a $170.00 price target on Apple in a research note on Monday, May 2nd. Nine equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $182.73.

Apple Stock Down 0.8 %

Shares of AAPL opened at $154.09 on Monday. The stock has a market capitalization of $2.49 trillion, a price-to-earnings ratio of 25.01, a price-to-earnings-growth ratio of 2.00 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’s 50 day simple moving average is $142.90 and its 200-day simple moving average is $157.81. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.93 and a quick ratio of 0.88.

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

Apple Increases Dividend

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

Apple declared that its board has authorized a stock buyback plan on Thursday, April 28th that authorizes the company to buyback $90.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other 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 transaction of $4,043,000.00. Following the transaction, the senior vice president now owns 452,334 shares of the company’s stock, valued at approximately $73,151,454.48. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.06% of the company’s stock.

About Apple

(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

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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