Mitchell & Pahl Private Wealth LLC Has $6.97 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Mitchell & Pahl Private Wealth LLC raised its position in Apple Inc. (NASDAQ:AAPL) by 2.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,925 shares of the iPhone maker’s stock after acquiring an additional 790 shares during the quarter. Apple makes up 3.2% of Mitchell & Pahl Private Wealth LLC’s portfolio, making the stock its biggest holding. Mitchell & Pahl Private Wealth LLC’s holdings in Apple were worth $6,972,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AAPL. Good Life Advisors LLC boosted its stake in shares of Apple by 3.3% during the 3rd quarter. Good Life Advisors LLC now owns 179,865 shares of the iPhone maker’s stock worth $41,912,000 after acquiring an additional 5,803 shares during the last quarter. nVerses Capital LLC raised its holdings in Apple by 19.0% in the 3rd quarter. nVerses Capital LLC now owns 2,500 shares of the iPhone maker’s stock worth $582,000 after purchasing an additional 400 shares during the period. Financial Advisors LLC lifted its position in Apple by 2.3% during the third quarter. Financial Advisors LLC now owns 25,446 shares of the iPhone maker’s stock valued at $5,929,000 after purchasing an additional 581 shares in the last quarter. Orin Green Financial LLC grew its holdings in Apple by 31.8% during the third quarter. Orin Green Financial LLC now owns 11,275 shares of the iPhone maker’s stock valued at $2,627,000 after purchasing an additional 2,718 shares during the period. Finally, One Wealth Advisors LLC increased its position in Apple by 7.7% in the third quarter. One Wealth Advisors LLC now owns 197,106 shares of the iPhone maker’s stock worth $45,926,000 after buying an additional 14,032 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Performance

Apple stock opened at $246.75 on Tuesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market capitalization of $3.73 trillion, a P/E ratio of 40.58, a price-to-earnings-growth ratio of 2.38 and a beta of 1.23. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $247.24. The company’s 50-day moving average is $230.80 and its 200 day moving average is $222.26.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the prior year, the business posted $1.46 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Research analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Insider Transactions at Apple

In related news, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at $24,416,137.76. The trade was a 35.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 408,170 shares of company stock worth $92,007,745. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on AAPL shares. Piper Sandler reiterated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research note on Wednesday, October 9th. New Street Research reiterated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research report on Wednesday, September 25th. Loop Capital decreased their price objective on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Moffett Nathanson dropped their target price on shares of Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a report on Tuesday, November 19th. Finally, Citigroup raised their price target on Apple to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $236.78.

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.