Glass Wealth Management Co LLC Buys 4,457 Shares of Apple Inc. (NASDAQ:AAPL)

Glass Wealth Management Co LLC lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 10.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 46,426 shares of the iPhone maker's stock after buying an additional 4,457 shares during the period. Apple makes up approximately 6.3% of Glass Wealth Management Co LLC's holdings, making the stock its 3rd largest position. Glass Wealth Management Co LLC's holdings in Apple were worth $11,626,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Drystone LLC acquired a new stake in Apple in the 4th quarter valued at about $25,000. SPX Gestao de Recursos Ltda acquired a new stake in Apple in the 3rd quarter valued at about $71,000. Teachers Insurance & Annuity Association of America acquired a new stake in Apple in the 3rd quarter valued at about $77,000. Compass Planning Associates Inc acquired a new stake in Apple in the 4th quarter valued at about $96,000. Finally, Collier Financial acquired a new stake in Apple in the 4th quarter valued at about $140,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Trading Down 0.3%

AAPL traded down $0.60 during trading on Wednesday, reaching $212.33. The company had a trading volume of 49,235,970 shares, compared to its average volume of 56,032,102. 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. The firm's 50-day simple moving average is $207.14 and its 200 day simple moving average is $227.09. The company has a market cap of $3.17 trillion, a price-to-earnings ratio of 33.70, a PEG ratio of 2.44 and a beta of 1.27.

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

Apple Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 12th will be paid a $0.26 dividend. This is a boost from Apple's previous quarterly dividend of $0.25. The ex-dividend date is Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. Apple's payout ratio is presently 16.20%.

Apple announced that its Board of Directors has approved a stock repurchase program on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AAPL shares. Wedbush lowered shares of Apple from an "outperform" rating to a "neutral" rating in a report on Friday, May 2nd. Rosenblatt Securities downgraded shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 target price for the company. in a research report on Friday, May 2nd. Redburn Partners set a $230.00 target price on shares of Apple in a research report on Friday, January 31st. TD Cowen dropped their target price on shares of Apple from $290.00 to $275.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, Maxim Group increased their target price on shares of Apple to $215.00 and gave the stock a "hold" rating in a research report on Friday, February 21st. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Apple currently has a consensus rating of "Hold" and a consensus price target of $235.80.

Insider Buying and Selling

In other news, CEO Timothy D. Cook sold 108,136 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the sale, the chief executive officer now directly owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. The trade was a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the sale, the insider now owns 15,533 shares in the company, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is currently owned by insiders.

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.