Paragon Private Wealth Management LLC boosted its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,623 shares of the iPhone maker’s stock after purchasing an additional 1,444 shares during the period. Apple accounts for approximately 4.2% of Paragon Private Wealth Management LLC’s portfolio, making the stock its 2nd biggest position. Paragon Private Wealth Management LLC’s holdings in Apple were worth $4,628,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Robinson Value Management Ltd. bought a new stake in Apple in the third quarter worth $28,000. St. James Investment Advisors LLC boosted its stake in shares of Apple by 98.3% during the 4th quarter. St. James Investment Advisors LLC now owns 236 shares of the iPhone maker’s stock worth $31,000 after acquiring an additional 117 shares in the last quarter. Hanseatic Management Services Inc. increased its holdings in shares of Apple by 75.4% during the 3rd 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 during the last quarter. HBC Financial Services PLLC raised its stake in shares of Apple by 21.7% in the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after acquiring an additional 80 shares in the last quarter. Finally, Align Wealth Management LLC acquired a new stake in Apple in the 4th quarter worth approximately $55,000. Hedge funds and other institutional investors own 57.60% of the company’s stock.
Apple Stock Up 1.6 %
Shares of AAPL opened at $183.79 on Tuesday. The business’s 50 day simple moving average is $171.01 and its 200-day simple moving average is $154.16. Apple Inc. has a one year low of $124.17 and a one year high of $184.95. The company has a market capitalization of $2.89 trillion, a P/E ratio of 31.20, a PEG ratio of 2.42 and a beta of 1.29. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.94 and a quick ratio of 0.88.
Apple declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 4th that permits the company to repurchase $90.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.
Apple Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Monday, May 15th were paid a $0.24 dividend. This is a boost from Apple’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Friday, May 12th. Apple’s dividend payout ratio (DPR) is 16.30%.
Insider Transactions at Apple
In other Apple news, insider Chris Kondo sold 4,092 shares of the business’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $173.26, for a total transaction of $708,979.92. Following the completion of the sale, the insider now directly owns 33,946 shares of the company’s stock, valued at approximately $5,881,483.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Jeffrey E. Williams sold 187,730 shares of the stock in a transaction that occurred on Wednesday, March 22nd. The shares were sold at an average price of $159.76, for a total value of $29,991,744.80. Following the sale, the chief operating officer now directly owns 489,816 shares in the company, valued at approximately $78,253,004.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,092 shares of Apple stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $173.26, for a total transaction of $708,979.92. Following the transaction, the insider now directly owns 33,946 shares in the company, valued at approximately $5,881,483.96. The disclosure for this sale can be found here. Insiders sold a total of 439,529 shares of company stock worth $71,703,657 over the last 90 days. 0.06% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the stock. DA Davidson lowered shares of Apple from a “buy” rating to a “neutral” rating and dropped their price target for the company from $193.00 to $185.00 in a research report on Monday, June 5th. Wells Fargo & Company upped their price target on shares of Apple from $185.00 to $210.00 in a report on Tuesday, June 6th. Bank of America lifted their price objective on Apple from $176.00 to $190.00 in a research note on Monday, June 5th. Robert W. Baird raised their target price on Apple from $170.00 to $180.00 in a report on Tuesday, May 2nd. Finally, Monness Crespi & Hardt upped their price target on Apple from $174.00 to $188.00 and gave the stock a “buy” rating in a report on Friday, May 5th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $177.11.
About Apple
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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