Apple Inc. (NASDAQ:AAPL) is Private Advisor Group LLC’s 3rd Largest Position

Private Advisor Group LLC raised its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 567,559 shares of the iPhone maker’s stock after acquiring an additional 37,930 shares during the period. Apple makes up about 2.2% of Private Advisor Group LLC’s portfolio, making the stock its 3rd biggest position. Private Advisor Group LLC’s holdings in Apple were worth $89,499,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in AAPL. Gradient Capital Advisors LLC increased its stake in Apple by 0.3% during the fourth quarter. Gradient Capital Advisors LLC now owns 25,288 shares of the iPhone maker’s stock worth $3,989,000 after purchasing an additional 69 shares during the period. New Potomac Partners LLC increased its stake in shares of Apple by 0.5% during the fourth quarter. New Potomac Partners LLC now owns 14,501 shares of the iPhone maker’s stock worth $2,287,000 after buying an additional 70 shares during the period. Connecticut Wealth Management LLC increased its stake in shares of Apple by 1.0% during the fourth quarter. Connecticut Wealth Management LLC now owns 7,209 shares of the iPhone maker’s stock worth $1,137,000 after buying an additional 70 shares during the period. Beacon Wealthcare Inc increased its stake in shares of Apple by 5.0% during the fourth quarter. Beacon Wealthcare Inc now owns 1,502 shares of the iPhone maker’s stock worth $237,000 after buying an additional 71 shares during the period. Finally, First Bank & Trust increased its stake in shares of Apple by 1.6% during the fourth quarter. First Bank & Trust now owns 5,768 shares of the iPhone maker’s stock worth $910,000 after buying an additional 89 shares during the period. Institutional investors and hedge funds own 58.54% of the company’s stock.

A number of analysts recently weighed in on the stock. BidaskClub lowered shares of Apple from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th. Wedbush restated an “outperform” rating and set a $235.00 target price on shares of Apple in a research note on Friday. Deutsche Bank assumed coverage on shares of Apple in a research note on Wednesday, June 19th. They set a “hold” rating and a $205.00 target price on the stock. Morgan Stanley set a $220.00 target price on shares of Apple and gave the stock a “buy” rating in a research note on Tuesday, March 26th. Finally, Credit Suisse Group restated a “neutral” rating and set a $209.00 target price on shares of Apple in a research note on Tuesday, May 21st. Three investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $209.12.

In related news, insider Luca Maestri sold 51,138 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $196.61, for a total transaction of $10,054,242.18. Following the transaction, the insider now directly owns 27,448 shares of the company’s stock, valued at $5,396,551.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 56,411 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $210.36, for a total value of $11,866,617.96. Following the completion of the transaction, the chief operating officer now directly owns 151,187 shares in the company, valued at $31,803,697.32. The disclosure for this sale can be found here. Insiders have sold 142,549 shares of company stock worth $29,300,960 over the last ninety days. 0.05% of the stock is owned by insiders.

AAPL stock traded up $3.63 during midday trading on Monday, hitting $201.55. 24,891,887 shares of the company’s stock were exchanged, compared to its average volume of 29,917,178. The company has a quick ratio of 1.26, a current ratio of 1.32 and a debt-to-equity ratio of 0.85. Apple Inc. has a 12-month low of $142.00 and a 12-month high of $233.47. The business has a 50 day moving average of $189.22. The firm has a market capitalization of $910.64 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 1.68 and a beta of 1.23.

Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, April 30th. The iPhone maker reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.09. The company had revenue of $58.02 billion for the quarter, compared to analyst estimates of $57.40 billion. Apple had a return on equity of 51.29% and a net margin of 22.12%. Apple’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.73 earnings per share. On average, sell-side analysts forecast that Apple Inc. will post 11.47 earnings per share for the current fiscal year.

Apple declared that its Board of Directors has authorized a stock repurchase program on Tuesday, April 30th that permits the company to repurchase $75.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Apple Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

Further Reading: Why investors pay attention to retained earnings

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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