Apple Inc. (NASDAQ:AAPL) is Wealth Advisory Solutions LLC's 5th Largest Position

Wealth Advisory Solutions LLC lifted its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,514 shares of the iPhone maker's stock after acquiring an additional 1,399 shares during the quarter. Apple makes up 4.7% of Wealth Advisory Solutions LLC's portfolio, making the stock its 5th biggest holding. Wealth Advisory Solutions LLC's holdings in Apple were worth $16,656,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. O Connor Financial Group LLC boosted its stake in shares of Apple by 1.2% in the fourth quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker's stock valued at $896,000 after purchasing an additional 41 shares during the period. Menard Financial Group LLC boosted its stake in shares of Apple by 0.4% in the third quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker's stock valued at $2,848,000 after purchasing an additional 48 shares during the period. Hanseatic Management Services Inc. boosted its stake in shares of Apple by 1.3% in the fourth quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock valued at $945,000 after purchasing an additional 48 shares during the period. Family Capital Management Inc. boosted its stake in shares of Apple by 0.3% in the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock valued at $4,235,000 after purchasing an additional 48 shares during the period. Finally, Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in shares of Apple by 0.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock valued at $4,178,000 after purchasing an additional 48 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

Shares of Apple stock traded down $0.88 during trading on Thursday, hitting $211.45. 43,910,127 shares of the stock were exchanged, compared to its average volume of 55,930,688. The stock's fifty day moving average is $206.60 and its 200 day moving average is $226.99. The stock has a market cap of $3.16 trillion, a PE ratio of 33.56, a P/E/G ratio of 2.44 and a beta of 1.27. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping the consensus estimate of $1.62 by $0.03. The business had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The company's quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.53 earnings per share. As a group, sell-side analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple declared that its board has authorized a stock buyback plan on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 12th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is currently 16.20%.

Insider Activity at Apple

In other news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the transaction, the insider now owns 15,533 shares in the company, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the transaction, the chief financial officer now owns 4,569 shares of the company's stock, valued at approximately $941,214. This trade represents a 50.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,507 shares of company stock worth $42,694,080 in the last 90 days. Corporate insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AAPL shares. JPMorgan Chase & Co. decreased their target price on shares of Apple from $270.00 to $245.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. China Renaissance started coverage on shares of Apple in a report on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 price target on the stock. The Goldman Sachs Group cut their price target on shares of Apple from $259.00 to $256.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. TD Cowen cut their price target on shares of Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Barclays cut their price target on shares of Apple from $197.00 to $173.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Apple currently has a consensus rating of "Hold" and an average price target of $235.80.

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.