PBMares Wealth Management LLC Has $9.86 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

PBMares Wealth Management LLC grew its position in Apple Inc. (NASDAQ:AAPL) by 0.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 42,296 shares of the iPhone maker’s stock after buying an additional 214 shares during the period. Apple makes up 2.1% of PBMares Wealth Management LLC’s portfolio, making the stock its 14th largest position. PBMares Wealth Management LLC’s holdings in Apple were worth $9,855,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Bull Oak Capital LLC raised its position in shares of Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after purchasing an additional 111 shares during the period. Hershey Financial Advisers LLC bought a new stake in Apple during the 2nd quarter worth approximately $42,000. Christopher J. Hasenberg Inc raised its holdings in Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after buying an additional 144 shares during the period. Cordant Inc. lifted its stake in Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after buying an additional 173 shares in the last quarter. Finally, Sage Financial Group Inc. acquired a new position in shares of Apple in the second quarter valued at approximately $206,000. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Piper Sandler restated a “neutral” rating and set a $225.00 price objective on shares of Apple in a report on Wednesday, October 9th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $265.00 price objective on shares of Apple in a research report on Tuesday, September 10th. Rosenblatt Securities lifted their target price on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $245.00 price target on shares of Apple in a research report on Monday, September 9th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $273.00 price objective on shares of Apple in a report on Friday, December 13th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $237.47.

Apple Stock Performance

NASDAQ:AAPL opened at $255.59 on Monday. The stock has a 50 day simple moving average of $237.41 and a 200 day simple moving average of $227.89. The stock has a market cap of $3.86 trillion, a P/E ratio of 42.04, a PEG ratio of 2.41 and a beta of 1.23. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share 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 company had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter last year, the firm earned $1.46 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. Research analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.39%. Apple’s payout ratio is presently 16.45%.

Insider Transactions at Apple

In related news, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the transaction, the chief operating officer now owns 489,944 shares in the company, valued at approximately $111,148,695.84. This trade represents a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, 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 6.39 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 508,170 shares of company stock valued at $117,004,745. 0.06% of the stock is currently owned by company insiders.

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.