Apple Inc. (NASDAQ:AAPL) Shares Acquired by Pitti Group Wealth Management LLC

Pitti Group Wealth Management LLC lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 5.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,928 shares of the iPhone maker’s stock after buying an additional 362 shares during the period. Apple makes up about 1.4% of Pitti Group Wealth Management LLC’s investment portfolio, making the stock its 21st largest holding. Pitti Group Wealth Management LLC’s holdings in Apple were worth $1,334,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AAPL. Verus Financial Partners Inc. increased its position in Apple by 0.3% during the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after purchasing an additional 48 shares in the last quarter. Brown Financial Advisory increased its position in Apple by 3.8% during the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after purchasing an additional 50 shares in the last quarter. Core Wealth Management Inc. increased its position in Apple by 1.7% during the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after purchasing an additional 50 shares in the last quarter. Lowery Thomas LLC increased its position in Apple by 0.7% during the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after purchasing an additional 50 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. increased its position in Apple by 1.1% during the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after purchasing an additional 51 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AAPL has been the subject of a number of research analyst reports. Bank of America reiterated a “buy” rating and set a $256.00 price objective on shares of Apple in a research report on Thursday, October 3rd. New Street Research reiterated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research report on Wednesday, September 25th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $265.00 price objective on shares of Apple in a research report on Tuesday, September 10th. Cfra raised their price target on shares of Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, Citigroup raised their price target on shares of Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $235.51.

Apple Price Performance

AAPL stock opened at $222.01 on Tuesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The stock has a market cap of $3.38 trillion, a PE ratio of 36.51, a P/E/G ratio of 2.41 and a beta of 1.24. The firm has a 50 day simple moving average of $227.07 and a two-hundred day simple moving average of $213.03.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 145.09%. The business had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the previous year, the company earned $1.46 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, analysts predict that Apple Inc. will post 7.48 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. Apple’s payout ratio is 16.45%.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction on Friday, August 9th. The shares were 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 in the company, valued at approximately $5,223,062.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 417,924 shares of company stock worth $94,142,399. 0.06% of the stock is currently owned by insiders.

About Apple

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.