Belpointe Asset Management LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 123.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 93,060 shares of the iPhone maker’s stock after purchasing an additional 51,323 shares during the period. Apple accounts for approximately 3.3% of Belpointe Asset Management LLC’s portfolio, making the stock its 3rd largest position. Belpointe Asset Management LLC’s holdings in Apple were worth $21,007,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. Spectrum Management Group Inc. grew its position in shares of Apple by 16.4% during the second quarter. Spectrum Management Group Inc. now owns 27,028 shares of the iPhone maker’s stock worth $5,003,000 after buying an additional 3,800 shares in the last quarter. MainStreet Investment Advisors LLC grew its position in shares of Apple by 4.5% during the second quarter. MainStreet Investment Advisors LLC now owns 93,342 shares of the iPhone maker’s stock worth $17,279,000 after buying an additional 3,996 shares in the last quarter. Parallel Advisors LLC lifted its stake in Apple by 3.6% during the second quarter. Parallel Advisors LLC now owns 96,213 shares of the iPhone maker’s stock worth $17,810,000 after purchasing an additional 3,336 shares during the last quarter. Capital Wealth Management LLC lifted its stake in Apple by 24.1% during the second quarter. Capital Wealth Management LLC now owns 1,633 shares of the iPhone maker’s stock worth $302,000 after purchasing an additional 317 shares during the last quarter. Finally, Aperio Group LLC lifted its stake in Apple by 2.5% during the second quarter. Aperio Group LLC now owns 3,428,167 shares of the iPhone maker’s stock worth $634,588,000 after purchasing an additional 84,108 shares during the last quarter. Institutional investors own 57.29% of the company’s stock.
Several equities analysts recently issued reports on AAPL shares. JPMorgan Chase & Co. restated a “buy” rating and set a $228.00 price objective on shares of Apple in a research note on Friday, January 11th. Royal Bank of Canada restated a “buy” rating and set a $185.00 price objective on shares of Apple in a research note on Friday, January 18th. Rosenblatt Securities set a $165.00 target price on Apple and gave the company a “neutral” rating in a research note on Thursday, December 6th. ValuEngine cut Apple from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Finally, Loop Capital cut Apple from a “buy” rating to a “hold” rating and set a $145.69 target price on the stock. in a research note on Thursday, January 3rd. One research analyst has rated the stock with a sell rating, twenty-one have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $196.90.
Shares of NASDAQ AAPL opened at $191.05 on Monday. The company has a market capitalization of $939.04 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 1.96 and a beta of 1.13. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.79. Apple Inc. has a 12 month low of $142.00 and a 12 month high of $233.47.
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, January 29th. The iPhone maker reported $4.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.17 by $0.01. The business had revenue of $84.31 billion for the quarter, compared to analysts’ expectations of $84.07 billion. Apple had a return on equity of 50.92% and a net margin of 22.72%. On average, research analysts forecast that Apple Inc. will post 11.38 earnings per share for the current fiscal year.
In other news, Director Arthur D. Levinson sold 1,521 shares of the business’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $167.71, for a total transaction of $255,086.91. Following the sale, the director now directly owns 1,134,804 shares in the company, valued at $190,317,978.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.05% of the company’s stock.
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Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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