Pacific Wealth Strategies Group Inc. Has $6.54 Million Position in Apple Inc. (NASDAQ:AAPL)

Pacific Wealth Strategies Group Inc. raised its holdings in Apple Inc. (NASDAQ:AAPL) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,082 shares of the iPhone maker’s stock after acquiring an additional 475 shares during the quarter. Apple makes up 4.9% of Pacific Wealth Strategies Group Inc.’s holdings, making the stock its 7th largest holding. Pacific Wealth Strategies Group Inc.’s holdings in Apple were worth $6,543,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AAPL. Bull Oak Capital LLC lifted its holdings in shares of Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after buying an additional 111 shares during the period. Hershey Financial Advisers LLC purchased a new stake in Apple in the second quarter worth about $42,000. Christopher J. Hasenberg Inc grew 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 acquiring an additional 144 shares in the last quarter. Cordant Inc. increased its position in Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after purchasing an additional 173 shares during the period. Finally, Sage Financial Group Inc. bought a new stake in shares of Apple in the 2nd quarter valued at about $206,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Rosenblatt Securities increased their price objective on shares of Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $245.00 target price on shares of Apple in a research report on Monday, September 9th. Citigroup boosted their price target on Apple to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Loop Capital dropped their price objective on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, October 9th. 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 given a strong buy rating to the stock. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $237.47.

Apple Stock Down 2.6 %

NASDAQ:AAPL opened at $243.85 on Friday. 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 company’s fifty day moving average price is $238.41 and its 200-day moving average price is $228.58. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The firm has a market capitalization of $3.69 trillion, a P/E ratio of 40.11, a PEG ratio of 2.41 and a beta of 1.23.

Apple (NASDAQ:AAPL) last announced 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. The company had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the firm earned $1.46 EPS. As a group, equities research analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

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

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is 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.