Parcion Private Wealth LLC Increases Position in Apple Inc. (NASDAQ:AAPL)

Parcion Private Wealth LLC grew its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,423 shares of the iPhone maker’s stock after buying an additional 3,628 shares during the quarter. Apple makes up 3.6% of Parcion Private Wealth LLC’s portfolio, making the stock its 8th largest position. Parcion Private Wealth LLC’s holdings in Apple were worth $38,843,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Allied Investment Advisors LLC lifted its stake in Apple by 2.7% in the first quarter. Allied Investment Advisors LLC now owns 82,976 shares of the iPhone maker’s stock valued at $14,229,000 after acquiring an additional 2,166 shares during the last quarter. Capital CS Group LLC lifted its holdings in Apple by 111.6% during the 1st quarter. Capital CS Group LLC now owns 4,762 shares of the iPhone maker’s stock valued at $817,000 after purchasing an additional 45,729 shares during the last quarter. First Affirmative Financial Network grew its stake in Apple by 8.4% in the 1st quarter. First Affirmative Financial Network now owns 21,997 shares of the iPhone maker’s stock valued at $3,772,000 after buying an additional 1,700 shares during the last quarter. Ballew Advisors Inc grew its position in shares of Apple by 2.5% in the first quarter. Ballew Advisors Inc now owns 7,842 shares of the iPhone maker’s stock valued at $1,316,000 after purchasing an additional 191 shares during the last quarter. Finally, Meyer Handelman Co. increased its stake in shares of Apple by 16.0% during the first quarter. Meyer Handelman Co. now owns 604,207 shares of the iPhone maker’s stock worth $103,609,000 after purchasing an additional 83,222 shares during the period. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 517,924 shares of company stock worth $114,786,399 in the last quarter. 0.06% of the stock is owned by company insiders.

Apple Price Performance

AAPL stock opened at $230.76 on Thursday. The company has a market capitalization of $3.54 trillion, a P/E ratio of 35.89, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. The business has a 50-day simple moving average of $226.64 and a two-hundred day simple moving average of $209.48. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating the consensus estimate of $1.34 by $0.06. The firm had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $1.26 EPS. Research analysts expect that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Monday, August 12th. Apple’s payout ratio is currently 15.55%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. StockNews.com upgraded shares of Apple from a “hold” rating to a “buy” rating in a research report on Tuesday. Bank of America reaffirmed a “buy” rating and set a $256.00 target price on shares of Apple in a research note on Thursday, October 3rd. The Goldman Sachs Group increased their price target on Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Piper Sandler Companies restated a “neutral” rating and set a $225.00 price objective (up previously from $190.00) on shares of Apple in a research report on Tuesday, July 9th. Finally, New Street Research reiterated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $237.27.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.