Oakwell Private Wealth Management LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,628 shares of the iPhone maker’s stock after selling 188 shares during the quarter. Apple comprises 0.5% of Oakwell Private Wealth Management LLC’s holdings, making the stock its 26th largest holding. Oakwell Private Wealth Management LLC’s holdings in Apple were worth $1,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in the stock. Robinson Value Management Ltd. acquired a new stake in shares of Apple in the third quarter worth approximately $28,000. Hanseatic Management Services Inc. raised its holdings in Apple by 75.4% in the third quarter. Hanseatic Management Services Inc. now owns 249 shares of the iPhone maker’s stock valued at $34,000 after acquiring an additional 107 shares in the last quarter. HBC Financial Services PLLC increased its stake in Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares during the last quarter. Align Wealth Management LLC purchased a new position in shares of Apple during the fourth quarter worth approximately $55,000. Finally, CFS Investment Advisory Services LLC grew its position in shares of Apple by 14,693.8% during the third quarter. CFS Investment Advisory Services LLC now owns 6,024,330 shares of the iPhone maker’s stock worth $65,000 after acquiring an additional 5,983,608 shares during the last quarter. Institutional investors own 57.60% of the company’s stock.
Apple Price Performance
AAPL stock opened at $173.50 on Tuesday. The company has a market capitalization of $2.75 trillion, a P/E ratio of 29.46, a price-to-earnings-growth ratio of 2.31 and a beta of 1.29. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.89 and a current ratio of 0.94. Apple Inc. has a 52-week low of $124.17 and a 52-week high of $176.15. The business has a 50-day simple moving average of $160.61 and a two-hundred day simple moving average of $149.14.
Apple Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 18th. Shareholders of record on Monday, May 15th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.55%. This is a positive change from Apple’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, May 12th. Apple’s dividend payout ratio is presently 15.62%.
Apple announced that its board has authorized a share buyback program on Thursday, May 4th that permits the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to purchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
Analyst Upgrades and Downgrades
AAPL has been the topic of a number of analyst reports. The Goldman Sachs Group initiated coverage on shares of Apple in a research report on Sunday, March 5th. They issued a “buy” rating and a $199.00 price objective on the stock. Morgan Stanley lifted their price target on Apple from $180.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday. JPMorgan Chase & Co. boosted their target price on shares of Apple from $175.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, April 19th. Rosenblatt Securities lifted their price target on Apple from $173.00 to $198.00 and gave the company a “buy” rating in a report on Friday. Finally, DA Davidson lifted their price target on Apple from $173.00 to $193.00 and gave the company a “buy” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $174.29.
Insider Buying and Selling
In other Apple news, CFO Luca Maestri sold 69,996 shares of the firm’s stock in a transaction that occurred on Thursday, April 13th. The shares were sold at an average price of $165.25, for a total transaction of $11,566,839.00. Following the completion of the transaction, the chief financial officer now owns 107,661 shares of the company’s stock, valued at $17,790,980.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Luca Maestri sold 69,996 shares of Apple stock in a transaction on Thursday, April 13th. The shares were sold at an average price of $165.25, for a total transaction of $11,566,839.00. Following the transaction, the chief financial officer now owns 107,661 shares in the company, valued at approximately $17,790,980.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 77,817 shares of Apple stock in a transaction on Tuesday, April 4th. The shares were sold at an average price of $166.11, for a total transaction of $12,926,181.87. Following the completion of the sale, the chief operating officer now owns 489,816 shares in the company, valued at $81,363,335.76. The disclosure for this sale can be found here. Insiders sold a total of 435,437 shares of company stock valued at $70,994,677 over the last three months. Corporate insiders own 0.06% of the company’s stock.
Apple Profile
Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.
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