Parcion Private Wealth LLC Has $32.34 Million Position in Apple Inc. $AAPL

Parcion Private Wealth LLC lifted its holdings in Apple Inc. (NASDAQ:AAPL) by 1.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 157,606 shares of the iPhone maker’s stock after acquiring an additional 1,502 shares during the period. Apple makes up approximately 1.7% of Parcion Private Wealth LLC’s portfolio, making the stock its 13th biggest position. Parcion Private Wealth LLC’s holdings in Apple were worth $32,336,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Apple by 0.4% in the first quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker’s stock valued at $311,157,662,000 after buying an additional 5,005,297 shares during the period. Kingstone Capital Partners Texas LLC grew its position in shares of Apple by 573,627.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock worth $39,065,374,000 after buying an additional 205,656,808 shares during the period. Northern Trust Corp increased its stake in shares of Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after acquiring an additional 20,079,472 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Apple by 14.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock valued at $26,220,566,000 after acquiring an additional 13,137,968 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Apple by 1.0% during the first quarter. Goldman Sachs Group Inc. now owns 98,099,909 shares of the iPhone maker’s stock worth $21,790,933,000 after acquiring an additional 984,157 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

Shares of Apple stock opened at $271.49 on Friday. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $277.32. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The business has a 50 day moving average price of $259.49 and a 200-day moving average price of $229.13. The company has a market cap of $4.01 trillion, a PE ratio of 41.20, a price-to-earnings-growth ratio of 2.62 and a beta of 1.09.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.11. The business had revenue of $102.47 billion during the quarter, compared to the consensus estimate of $101.65 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.Apple’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.64 earnings per share. Equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 10th were issued a $0.26 dividend. The ex-dividend date was Monday, November 10th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio is currently 13.92%.

Insider Activity at Apple

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of the company’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the sale, the senior vice president directly owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. This represents a 20.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Kevan Parekh sold 4,199 shares of the stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the completion of the sale, the chief financial officer owned 8,765 shares of the company’s stock, valued at approximately $2,168,373.35. This trade represents a 32.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 228,052 shares of company stock valued at $58,604,588 over the last three months. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on AAPL. CLSA raised shares of Apple to a “strong-buy” rating in a research note on Sunday, October 5th. Bank of America raised their target price on Apple from $270.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Citigroup reaffirmed a “buy” rating and issued a $315.00 target price (up from $245.00) on shares of Apple in a research report on Friday, October 31st. Loop Capital upgraded Apple from a “hold” rating to a “buy” rating and increased their price target for the stock from $226.00 to $315.00 in a report on Monday, October 20th. Finally, TD Cowen raised their price objective on Apple from $275.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $278.22.

Apple 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.