Opes Wealth Management LLC Has $55.41 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

5 months ago
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Opes Wealth Management LLC grew its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 2.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 323,629 shares of the iPhone maker’s stock after buying an additional 7,774 shares during the period. Apple accounts for about 15.3% of Opes Wealth Management LLC’s holdings, making the stock its biggest holding. Opes Wealth Management LLC’s holdings in Apple were worth $55,409,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. West Coast Financial LLC raised its position in shares of Apple by 1.1% in the third quarter. West Coast Financial LLC now owns 150,997 shares of the iPhone maker’s stock valued at $25,852,000 after buying an additional 1,616 shares during the last quarter. Lincoln Capital Corp increased its position in Apple by 0.5% during the third quarter. Lincoln Capital Corp now owns 55,586 shares of the iPhone maker’s stock worth $9,517,000 after purchasing an additional 277 shares during the last quarter. Hartford Funds Management Co LLC increased its position in Apple by 6.7% during the third quarter. Hartford Funds Management Co LLC now owns 12,693 shares of the iPhone maker’s stock worth $2,173,000 after purchasing an additional 796 shares during the last quarter. Envision Financial Planning LLC acquired a new stake in Apple during the third quarter worth about $296,000. Finally, Advisor OS LLC increased its position in Apple by 10.7% during the third quarter. Advisor OS LLC now owns 91,927 shares of the iPhone maker’s stock worth $15,739,000 after purchasing an additional 8,859 shares during the last quarter. 58.51% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group raised their price objective on shares of Apple from $223.00 to $232.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Rosenblatt Securities reiterated a “neutral” rating and set a $189.00 price target on shares of Apple in a research report on Wednesday, January 31st. Monness Crespi & Hardt lifted their price target on shares of Apple from $189.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Redburn Partners cut shares of Apple to a “neutral” rating and set a $200.00 price target for the company. in a research report on Wednesday, January 10th. Finally, Robert W. Baird lifted their price target on shares of Apple from $186.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $205.27.

In other news, insider Chris Kondo sold 5,513 shares of Apple stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $192.00, for a total value of $1,058,496.00. Following the transaction, the insider now directly owns 29,174 shares of the company’s stock, valued at approximately $5,601,408. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Shares of NASDAQ:AAPL opened at $184.37 on Friday. The company has a market capitalization of $2.85 trillion, a PE ratio of 28.72, a P/E/G ratio of 2.19 and a beta of 1.31. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28. Apple Inc. has a twelve month low of $143.90 and a twelve month high of $199.62. The firm has a 50 day simple moving average of $188.59 and a 200-day simple moving average of $183.61.

Apple (NASDAQ:AAPL – Get Free Report) last issued its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.09. The business had revenue of $119.60 billion during the quarter, compared to the consensus estimate of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.88 EPS. On average, equities analysts predict that Apple Inc. will post 6.56 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were issued a $0.24 dividend. The ex-dividend date was Friday, February 9th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.52%. Apple’s payout ratio is 14.95%.

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.
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