Apple Inc. (NASDAQ:AAPL) is Parisi Gray Wealth Management’s 6th Largest Position

Parisi Gray Wealth Management grew its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 53,536 shares of the iPhone maker’s stock after purchasing an additional 78 shares during the quarter. Apple makes up approximately 4.3% of Parisi Gray Wealth Management’s investment portfolio, making the stock its 6th largest position. Parisi Gray Wealth Management’s holdings in Apple were worth $13,407,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pallas Capital Advisors LLC boosted its position in shares of Apple by 3.1% during the 4th quarter. Pallas Capital Advisors LLC now owns 231,017 shares of the iPhone maker’s stock valued at $57,851,000 after acquiring an additional 7,035 shares during the last quarter. Miracle Mile Advisors LLC increased its stake in Apple by 37.0% in the fourth quarter. Miracle Mile Advisors LLC now owns 698,798 shares of the iPhone maker’s stock worth $174,993,000 after purchasing an additional 188,807 shares during the period. Northstar Advisory Group LLC increased its stake in Apple by 2.6% in the fourth quarter. Northstar Advisory Group LLC now owns 34,795 shares of the iPhone maker’s stock worth $8,713,000 after purchasing an additional 895 shares during the period. Conrad Siegel Investment Advisors Inc. increased its stake in shares of Apple by 2.0% during the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 10,653 shares of the iPhone maker’s stock valued at $2,668,000 after buying an additional 204 shares during the period. Finally, Horizon Wealth Management LLC boosted its position in Apple by 1.7% during the fourth quarter. Horizon Wealth Management LLC now owns 55,439 shares of the iPhone maker’s stock valued at $13,883,000 after purchasing an additional 914 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

AAPL opened at $245.55 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $3.69 trillion, a PE ratio of 38.98, a P/E/G ratio of 2.44 and a beta of 1.20. The firm has a 50 day moving average of $240.47 and a two-hundred day moving average of $232.72. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $260.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.41%. The ex-dividend date was Monday, February 10th. Apple’s payout ratio is 15.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Maxim Group lifted their target price on Apple to $215.00 and gave the stock a “hold” rating in a report on Friday. JPMorgan Chase & Co. boosted their price objective on Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Monness Crespi & Hardt increased their price objective on Apple to $245.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Needham & Company LLC reissued a “buy” rating and issued a $260.00 target price on shares of Apple in a research report on Friday, January 31st. Finally, Jefferies Financial Group reissued an “underperform” rating on shares of Apple in a research note on Wednesday. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.85.

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.