Apple Inc. (NASDAQ:AAPL) Stake Lifted by Strategic Wealth Investment Group LLC

Strategic Wealth Investment Group LLC raised its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 9.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,885 shares of the iPhone maker’s stock after purchasing an additional 9,737 shares during the quarter. Apple comprises about 4.8% of Strategic Wealth Investment Group LLC’s investment portfolio, making the stock its 5th biggest position. Strategic Wealth Investment Group LLC’s holdings in Apple were worth $20,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of AAPL. Norges Bank purchased a new stake in shares of Apple during the fourth quarter worth about $25,228,507,000. State Street Corp increased its position in shares of Apple by 1.8% during the fourth quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after acquiring an additional 10,951,705 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Apple during the fourth quarter worth about $1,461,735,000. Capital Research Global Investors increased its position in shares of Apple by 38.1% during the fourth quarter. Capital Research Global Investors now owns 29,549,427 shares of the iPhone maker’s stock worth $5,247,094,000 after acquiring an additional 8,154,171 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in shares of Apple by 41.8% during the fourth quarter. ProShare Advisors LLC now owns 20,866,567 shares of the iPhone maker’s stock worth $3,705,275,000 after acquiring an additional 6,154,422 shares during the last quarter. 57.98% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

NASDAQ AAPL opened at $156.79 on Thursday. The stock has a market capitalization of $2.54 trillion, a P/E ratio of 25.45, a P/E/G 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’s fifty day moving average is $143.41 and its two-hundred day moving average is $157.62. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.88 and a current ratio of 0.93.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.09. The company 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 firm’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.40 earnings per share. On average, research analysts forecast that Apple Inc. will post 6.09 earnings per share for the current fiscal year.

Apple announced that its Board of Directors has initiated a stock repurchase plan on Thursday, April 28th that permits the company to buyback $90.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Apple

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

Analysts Set New Price Targets

A number of research firms recently commented on AAPL. Bank of America decreased their price target on Apple from $200.00 to $185.00 in a research note on Tuesday. KeyCorp decreased their price target on Apple from $191.00 to $173.00 and set an “overweight” rating for the company in a research note on Tuesday, July 12th. Citigroup decreased their price target on Apple from $200.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday, July 13th. StockNews.com began coverage on Apple in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Deutsche Bank Rese… set a $210.00 price target on Apple in a research note on Friday, April 8th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $179.64.

Apple Profile

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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.

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