PACK Private Wealth LLC Acquires 121 Shares of Apple Inc. (NASDAQ:AAPL)

PACK Private Wealth LLC grew its holdings in Apple Inc. (NASDAQ:AAPL) by 4.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,700 shares of the iPhone maker’s stock after purchasing an additional 121 shares during the period. Apple comprises about 0.4% of PACK Private Wealth LLC’s investment portfolio, making the stock its 18th biggest holding. PACK Private Wealth LLC’s holdings in Apple were worth $569,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of AAPL. Capital International Investors grew its holdings in shares of Apple by 7.1% in the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after acquiring an additional 2,474,887 shares during the period. Jennison Associates LLC grew its holdings in shares of Apple by 1.7% in the first quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock worth $5,061,296,000 after acquiring an additional 485,873 shares during the period. Swedbank AB grew its holdings in shares of Apple by 13.4% in the second quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after acquiring an additional 2,359,409 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Apple by 16.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,993,042 shares of the iPhone maker’s stock worth $3,085,427,000 after acquiring an additional 2,594,138 shares during the period. Finally, Nordea Investment Management AB grew its holdings in shares of Apple by 2.5% in the first quarter. Nordea Investment Management AB now owns 17,247,950 shares of the iPhone maker’s stock worth $2,951,297,000 after acquiring an additional 415,186 shares during the period. Institutional investors own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several research analyst reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $273.00 price objective on shares of Apple in a report on Tuesday, September 10th. Monness Crespi & Hardt reiterated a “buy” rating and set a $245.00 target price on shares of Apple in a research report on Monday, September 9th. KeyCorp reiterated a “hold” rating and set a $247.61 target price on shares of Apple in a research report on Wednesday, August 28th. Maxim Group reiterated a “hold” rating and set a $203.00 target price on shares of Apple in a research report on Tuesday, September 10th. Finally, Barclays reiterated an “underweight” rating and set a $186.00 target price on shares of Apple in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.27.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction that occurred on 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 owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 517,924 shares of company stock valued at $114,786,399 over the last ninety days. 0.06% of the stock is owned by insiders.

Apple Price Performance

NASDAQ:AAPL opened at $235.00 on Friday. The business’s 50-day moving average is $225.78 and its 200 day moving average is $208.11. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The company has a market capitalization of $3.60 trillion, a P/E ratio of 36.55, a P/E/G ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. During the same period in the previous year, the firm posted $1.26 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities research analysts forecast that Apple Inc. will post 6.65 earnings per share for the current fiscal year.

Apple Announces Dividend

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

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.