Wrapmanager Inc. Has $13.62 Million Position in Apple Inc. (NASDAQ:AAPL)

Wrapmanager Inc. boosted its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 54,402 shares of the iPhone maker's stock after buying an additional 1,592 shares during the quarter. Apple makes up approximately 3.5% of Wrapmanager Inc.'s holdings, making the stock its 4th largest holding. Wrapmanager Inc.'s holdings in Apple were worth $13,624,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Drystone LLC acquired a new stake in Apple in the fourth quarter valued at $25,000. SPX Gestao de Recursos Ltda bought a new position in Apple during the third quarter worth $71,000. Teachers Insurance & Annuity Association of America bought a new stake in shares of Apple during the 3rd quarter worth about $77,000. Compass Planning Associates Inc acquired a new position in Apple in the 4th quarter valued at about $96,000. Finally, ARK Investment Management LLC bought a new position in Apple in the 3rd quarter valued at about $110,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Trading Down 3.1 %

Shares of NASDAQ AAPL traded down $6.46 during trading on Monday, reaching $198.89. The company had a trading volume of 67,364,869 shares, compared to its average volume of 56,243,494. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company's fifty day moving average price is $212.15 and its 200-day moving average price is $228.58. The stock has a market cap of $2.99 trillion, a P/E ratio of 31.57, a PEG ratio of 2.44 and a beta of 1.26. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.

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

Apple Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 12th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. This is a positive change from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, May 12th. Apple's dividend payout ratio is presently 15.87%.

Apple declared that its Board of Directors has approved a share repurchase program on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AAPL. Redburn Partners set a $230.00 price objective on Apple in a report on Friday, January 31st. KeyCorp upgraded Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. The Goldman Sachs Group dropped their price objective on shares of Apple from $259.00 to $256.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Needham & Company LLC reaffirmed a "buy" rating and set a $225.00 target price on shares of Apple in a report on Friday. Finally, Loop Capital cut their price target on Apple from $230.00 to $215.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $235.80.

Insider Transactions at Apple

In other Apple news, COO Jeffrey E. Williams sold 35,493 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the sale, the chief operating officer now owns 390,059 shares of the company's stock, valued at $87,377,116.59. The trade was a 8.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the sale, the chief financial officer now directly owns 4,569 shares in the company, valued at $941,214. This trade represents a 50.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 187,021 shares of company stock valued at $41,760,140 over the last ninety days. 0.06% of the stock is currently owned by insiders.

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.