Parisi Gray Wealth Management Grows Stock Position in Apple Inc. (NASDAQ:AAPL)

Parisi Gray Wealth Management boosted its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 59,999 shares of the iPhone maker’s stock after acquiring an additional 100 shares during the period. Apple accounts for about 3.1% of Parisi Gray Wealth Management’s investment portfolio, making the stock its 7th largest position. Parisi Gray Wealth Management’s holdings in Apple were worth $7,329,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AAPL. Richard P Slaughter Associates Inc raised its position in shares of Apple by 141.5% during the first quarter. Richard P Slaughter Associates Inc now owns 23,855 shares of the iPhone maker’s stock valued at $2,913,000 after buying an additional 13,976 shares during the last quarter. Budros Ruhlin & Roe Inc. raised its position in shares of Apple by 4.8% during the first quarter. Budros Ruhlin & Roe Inc. now owns 170,753 shares of the iPhone maker’s stock valued at $20,858,000 after buying an additional 7,761 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Apple by 2.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 415,669 shares of the iPhone maker’s stock valued at $55,155,000 after buying an additional 11,807 shares during the last quarter. Prosperity Planning Inc. raised its position in shares of Apple by 324.9% during the first quarter. Prosperity Planning Inc. now owns 11,760 shares of the iPhone maker’s stock valued at $1,436,000 after buying an additional 8,992 shares during the last quarter. Finally, Saratoga Research & Investment Management raised its position in shares of Apple by 0.4% during the first quarter. Saratoga Research & Investment Management now owns 687,726 shares of the iPhone maker’s stock valued at $84,006,000 after buying an additional 2,830 shares during the last quarter. Institutional investors own 56.20% of the company’s stock.

Shares of AAPL opened at $145.40 on Thursday. The stock has a market capitalization of $2.43 trillion, a price-to-earnings ratio of 32.64, a P/E/G ratio of 2.22 and a beta of 1.21. Apple Inc. has a 12-month low of $89.14 and a 12-month high of $150.00. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.14 and a quick ratio of 1.09. The company’s fifty day moving average is $133.11.

Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, April 27th. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.41. The firm had revenue of $89.58 billion during the quarter, compared to analyst estimates of $76.84 billion. Apple had a net margin of 23.45% and a return on equity of 111.80%. The business’s revenue was up 53.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 earnings per share. As a group, equities analysts forecast that Apple Inc. will post 5.19 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, May 13th. Stockholders of record on Monday, May 10th were paid a dividend of $0.22 per share. This is a positive change from Apple’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Friday, May 7th. Apple’s payout ratio is currently 26.83%.

Several equities research analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Apple from $155.00 to $166.00 and gave the company a “buy” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $165.00 price objective on shares of Apple in a research report on Monday. Sanford C. Bernstein set a $132.00 price target on shares of Apple and gave the stock a “neutral” rating in a research report on Tuesday, May 11th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $175.00 price target (up previously from $170.00) on shares of Apple in a research report on Wednesday, July 14th. Finally, Needham & Company LLC restated a “buy” rating and issued a $170.00 price target on shares of Apple in a research report on Wednesday, April 21st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-six have assigned a buy rating to the stock. Apple has an average rating of “Buy” and an average price target of $149.63.

In related news, SVP Katherine L. Adams sold 17,000 shares of Apple stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $132.80, for a total value of $2,257,600.00. Following the completion of the sale, the senior vice president now directly owns 333,044 shares in the company, valued at $44,228,243.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 121,072 shares of Apple stock in a transaction dated Monday, May 3rd. The shares were sold at an average price of $132.81, for a total value of $16,079,572.32. Following the completion of the sale, the chief financial officer now owns 143,961 shares of the company’s stock, valued at $19,119,460.41. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Apple Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. 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, HomePod, iPod touch, and other Apple-branded and third-party accessories.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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