High Net Worth Advisory Group LLC Grows Stock Holdings in Apple Inc. (NASDAQ:AAPL)

High Net Worth Advisory Group LLC grew its position in Apple Inc. (NASDAQ:AAPL) by 1.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,015 shares of the iPhone maker’s stock after buying an additional 1,066 shares during the quarter. Apple accounts for about 4.1% of High Net Worth Advisory Group LLC’s portfolio, making the stock its 3rd largest holding. High Net Worth Advisory Group LLC’s holdings in Apple were worth $14,916,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Swedbank AB acquired a new stake in Apple in the first quarter valued at about $3,026,492,000. Strategic Financial Concepts LLC lifted its holdings in shares of Apple by 14,145.8% in the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after acquiring an additional 7,558,826 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Apple by 158.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after purchasing an additional 7,067,379 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of Apple by 161.2% during the 1st quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock valued at $1,502,068,000 after purchasing an additional 5,405,542 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new position in Apple during the 2nd quarter worth approximately $834,368,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wedbush restated an “outperform” rating and issued a $300.00 target price on shares of Apple in a research report on Friday, November 29th. UBS Group reissued a “neutral” rating and set a $236.00 price objective on shares of Apple in a report on Monday. Evercore ISI reaffirmed a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Thursday, September 26th. Bank of America reissued a “buy” rating and set a $256.00 price target on shares of Apple in a research note on Thursday, October 3rd. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $235.68.

Apple Stock Up 1.3 %

Shares of NASDAQ AAPL opened at $242.65 on Wednesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The company has a 50-day moving average price of $229.59 and a 200-day moving average price of $220.74. The stock has a market capitalization of $3.67 trillion, a P/E ratio of 39.91, a P/E/G ratio of 2.35 and a beta of 1.23. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $242.76.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data 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 return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same period in the previous year, the company posted $1.46 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities research analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the transaction, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 408,170 shares of company stock valued at $92,007,745 in the last three months. 0.06% of the stock is currently owned by insiders.

Apple 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.