Pursue Wealth Partners LLC Boosts Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Pursue Wealth Partners LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 4.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 27,121 shares of the iPhone maker’s stock after buying an additional 1,049 shares during the quarter. Apple accounts for 3.1% of Pursue Wealth Partners LLC’s portfolio, making the stock its 9th biggest position. Pursue Wealth Partners LLC’s holdings in Apple were worth $5,712,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AAPL. Mid American Wealth Advisory Group Inc. raised its holdings in Apple by 26.4% during the 1st quarter. Mid American Wealth Advisory Group Inc. now owns 14,193 shares of the iPhone maker’s stock valued at $2,434,000 after acquiring an additional 2,967 shares during the period. CJM Wealth Advisers Ltd. raised its holdings in Apple by 0.5% during the 1st quarter. CJM Wealth Advisers Ltd. now owns 18,528 shares of the iPhone maker’s stock valued at $3,177,000 after acquiring an additional 100 shares during the period. Rise Advisors LLC raised its holdings in Apple by 133.9% during the 1st quarter. Rise Advisors LLC now owns 4,523 shares of the iPhone maker’s stock valued at $776,000 after acquiring an additional 2,589 shares during the period. Osher Van de Voorde Investment Management raised its holdings in Apple by 10.0% during the 1st quarter. Osher Van de Voorde Investment Management now owns 101,555 shares of the iPhone maker’s stock valued at $17,415,000 after acquiring an additional 9,230 shares during the period. Finally, Alaska Permanent Fund Corp raised its holdings in Apple by 3.2% during the 1st quarter. Alaska Permanent Fund Corp now owns 26,107 shares of the iPhone maker’s stock valued at $4,477,000 after acquiring an additional 818 shares during the period. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Transactions at Apple

In related news, CFO Luca Maestri sold 59,305 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Luca Maestri sold 59,305 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 517,924 shares of company stock worth $114,786,399. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $273.00 price target on shares of Apple in a report on Tuesday, September 10th. Tigress Financial upped their price target on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. Loop Capital raised shares of Apple from a “hold” rating to a “buy” rating and upped their price target for the stock from $170.00 to $300.00 in a report on Monday, July 15th. Finally, Cfra upped their price target on shares of Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $239.27.

Apple Stock Performance

Apple stock opened at $235.00 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The firm has a 50-day moving average of $225.78 and a 200-day moving average of $208.11. The firm has a market cap 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 Inc. has a 1-year low of $164.07 and a 1-year high of $237.49.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The company had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. Apple’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.26 earnings per share. Sell-side analysts expect that Apple Inc. will post 6.65 EPS for the current year.

Apple Announces Dividend

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

Apple Company 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.