Wealth Alliance Advisory Group LLC Acquires 3,235 Shares of Apple Inc. (NASDAQ:AAPL)

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Wealth Alliance Advisory Group LLC boosted its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 7.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,154 shares of the iPhone maker’s stock after buying an additional 3,235 shares during the period. Apple makes up about 3.0% of Wealth Alliance Advisory Group LLC’s investment portfolio, making the stock its 8th biggest position. Wealth Alliance Advisory Group LLC’s holdings in Apple were worth $6,447,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Elk River Wealth Management LLC raised its holdings in Apple by 49.0% in the first quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock worth $29,181,000 after purchasing an additional 54,989 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Apple by 8.3% in the first quarter. EverSource Wealth Advisors LLC now owns 74,619 shares of the iPhone maker’s stock worth $13,029,000 after purchasing an additional 5,703 shares during the period. Piscataqua Savings Bank raised its holdings in Apple by 1.5% in the first quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock worth $8,302,000 after purchasing an additional 684 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in Apple in the first quarter worth $171,000. Finally, Chico Wealth RIA acquired a new stake in Apple in the first quarter worth $7,794,000. 57.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AAPL. Monness Crespi & Hardt began coverage on shares of Apple in a report on Thursday, September 8th. They issued a “buy” rating and a $174.00 target price on the stock. Credit Suisse Group set a $201.00 price objective on shares of Apple in a report on Thursday, September 8th. Itau BBA Securities initiated coverage on shares of Apple in a report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price objective on the stock. Deutsche Bank Aktiengesellschaft set a $175.00 price objective on shares of Apple in a report on Monday, August 1st. Finally, Wedbush raised their price objective on shares of Apple from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, August 17th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $181.52.

Insider Activity

In other news, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the sale, the senior vice president now owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Luca Maestri sold 96,735 shares of the stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $19,362,241.35. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Apple Price Performance

Shares of NASDAQ AAPL opened at $154.48 on Tuesday. Apple Inc. has a twelve month low of $129.04 and a twelve month high of $182.94. The business’s 50 day moving average price is $159.65 and its two-hundred day moving average price is $155.94. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63. The company has a market cap of $2.48 trillion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 1.95 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last posted its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The company had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. During the same quarter in the prior year, the business earned $1.30 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, analysts predict that Apple Inc. will post 6.11 EPS for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.60%. The ex-dividend date was Friday, August 5th. Apple’s payout ratio is 15.18%.

Apple Profile

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Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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