Refined Wealth Management grew its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 2.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 12,398 shares of the iPhone maker’s stock after buying an additional 301 shares during the quarter. Apple accounts for approximately 1.8% of Refined Wealth Management’s portfolio, making the stock its 14th biggest position. Refined Wealth Management’s holdings in Apple were worth $2,044,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. St. James Investment Advisors LLC grew its position in shares of Apple by 98.3% during the fourth quarter. St. James Investment Advisors LLC now owns 236 shares of the iPhone maker’s stock worth $31,000 after buying an additional 117 shares in the last quarter. Cheyne Capital Management UK LLP lifted its stake in Apple by 200.0% during the third quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $212,000 after purchasing an additional 550 shares during the last quarter. Align Wealth Management LLC purchased a new stake in Apple during the fourth quarter worth approximately $55,000. HBC Financial Services PLLC lifted its stake in Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares during the last quarter. Finally, PayPay Securities Corp purchased a new stake in Apple during the fourth quarter worth approximately $60,000. 57.89% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Apple
In related news, CFO Luca Maestri sold 69,996 shares of the stock in a transaction on Thursday, April 13th. The stock was sold at an average price of $165.25, for a total transaction of $11,566,839.00. Following the sale, the chief financial officer now owns 107,661 shares of the company’s stock, valued at $17,790,980.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Chris Kondo sold 4,092 shares of the 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 transaction, the insider now directly owns 33,946 shares in the company, valued at $5,881,483.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Luca Maestri sold 69,996 shares of the stock in a transaction dated Thursday, April 13th. The stock was sold at an average price of $165.25, for a total value of $11,566,839.00. Following the transaction, the chief financial officer now owns 107,661 shares in the company, valued at $17,790,980.25. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.
Wall Street Analysts Forecast Growth
Apple Stock Up 0.3 %
Apple stock opened at $191.81 on Friday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.88 and a current ratio of 0.94. The firm has a market capitalization of $3.02 trillion, a price-to-earnings ratio of 32.57, a price-to-earnings-growth ratio of 2.57 and a beta of 1.28. Apple Inc. has a fifty-two week low of $124.17 and a fifty-two week high of $194.48. The stock’s fifty day moving average is $179.31 and its two-hundred day moving average is $159.54.
Apple (NASDAQ:AAPL – Free Report) last posted its earnings results on Thursday, May 4th. The iPhone maker reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.08. The company had revenue of $94.84 billion for the quarter, compared to analyst estimates of $92.84 billion. Apple had a return on equity of 165.72% and a net margin of 24.49%. Apple’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.52 earnings per share. Analysts predict that Apple Inc. will post 6 EPS for the current fiscal year.
Apple declared that its board has authorized a stock buyback program on Thursday, May 4th that allows the company to buyback $90.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to purchase up to 3.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
Apple Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 18th. Investors of record on Monday, May 15th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, May 12th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.50%. This is a positive change from Apple’s previous quarterly dividend of $0.23. Apple’s dividend payout ratio (DPR) is presently 16.30%.
Apple Profile
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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